Chapter 215, INSURANCE

(215 ILCS 5/179E-5) Sec. 179E-5. Purpose. This Article is adopted to provide for the creation of Special Purpose Reinsurance Vehicles ("SPRV") exclusively to facilitate the securitization of one or more ceding insurers' risk as a means of accessing alternative sources of capital …

(215 ILCS 5/179E-50) Sec. 179E-50. Dividends. An SPRV may not declare or pay dividends in any form to its owners unless the dividends do not decrease the capital of the SPRV below $5,000, and after giving effect to the dividends, the assets of the SPRV, including assets held in t…

(215 ILCS 5/179E-55) Sec. 179E-55. Records and financial reports. (a) The records of the SPRV must be maintained in this State and must be available for examination by the Department. The Director shall have the right to examine the records of an SPRV at any time. No later than 5…

(215 ILCS 5/179E-60) Sec. 179E-60. Officers and directors. (a) The directors of an SPRV shall elect such officers they deem necessary to carry out the purposes of the SPRV pursuant to this Article. The provisions of Section 10 of this Code relating to the indemnification of offic…

(215 ILCS 5/179E-65) Sec. 179E-65. Fees and taxes. The Director may charge fees to reimburse the Director for expenses and costs incurred by the Department incident to the examination of financial statements and review of the plan of operation and to reimburse other such activiti…

(215 ILCS 5/179E-70) Sec. 179E-70. Dissolution. An SPRV operating under this Article may be dissolved by a vote of its board of directors at any time after the Director has approved that action. A voluntary dissolution may not be effected or allowed until and unless all of the ob…

(215 ILCS 5/179E-75) Sec. 179E-75. Conservation, rehabilitation, or liquidation. (a) The provisions of Articles XIII and XIII 1/2 apply to an SPRV, except to the extent modified in this Section. (b) Notwithstanding the provisions of Section 188 of this Code, the Director may appl…

(215 ILCS 5/179E-80) Sec. 179E-80. SPRV not subject to guaranty funds, residual market, or similar arrangements. (a) An SPRV or the activities, assets, and obligations relating to the SPRV are not subject to the provisions of Articles XXXIII 1/2 and XXXIV of this Code, and an SPR…

(215 ILCS 5/179E-85) Sec. 179E-85. Asset and investment limitations. (a) Assets of the SPRV held in trust to secure obligations under the SPRV contract must at all times be held in: (1) cash and cash equivalents; (2) securities listed by the Securities Valuation Office of the NAI…

(215 ILCS 5/179E-90) Sec. 179E-90. Credit for reinsurance for the SPRV contract. An SPRV contract meeting the requirements under this Article shall be granted credit for reinsurance treatment or shall otherwise qualify as an asset or a reduction from liability for reinsurance ced…

(215 ILCS 5/179E-95) Sec. 179E-95. Insurance securitization deemed not to be transaction of insurance business. The securities issued by the SPRV under an SPRV insurance securitization shall not be deemed to be insurance or reinsurance contracts. An investor in securities issued …

(215 ILCS 5/179a) Sec. 179a. Managing general agent prohibition. (a) No managing general agent, as defined in Section 141a, shall receive any compensation or remuneration for, or in any manner profit from, obtaining or arranging reinsurance for a domestic company with respect to …

(215 ILCS 5/179b) Sec. 179b. Reinsurance committee. Each domestic company that cedes any reinsurance must establish and maintain a reinsurance committee with not fewer than 3 members, at least one of which must be a member of the company's board of directors. The committee shall …

(215 ILCS 110/18) (from Ch. 32, par. 690.18) Sec. 18. A dental service plan corporation may, in the discretion of its board of trustees, through its by-laws, limit or define the classes of persons who shall be eligible to become subscribers, limit and define the benefits which it…

(215 ILCS 150/18) (from Ch. 148, par. 218) Sec. 18. No trust fund established under this Act shall grant any power to the trustees which is inconsistent with this Act or any other law of this State. (Source: P.A. 80-530.)

(215 ILCS 5/18) (from Ch. 73, par. 630) (Section scheduled to be repealed on January 1, 2037) Sec. 18. Approval of documents. (1) If the Director finds that the documents and papers so delivered comply with this Code, he must place on file in his office the by-laws, form of subsc…

(215 ILCS 155/18) (from Ch. 73, par. 1418) Sec. 18. No referral payments; kickbacks. (a) Application of this Section is limited to residential properties of 4 or fewer units, at least one of which units is occupied or to be occupied by an owner, legal or beneficial. (b) No title …

(215 ILCS 161/18) (This Section may contain text from a Public Act with a delayed effective date) Sec. 18. Vision care plan benefits. A vision care organization shall clearly list, in the schedule of benefits and vision care plan documents provided to an enrollee and eye care pro…

(215 ILCS 165/18) (from Ch. 32, par. 612) Sec. 18. No corporation subject to the provisions of this Act shall, except under the approval of the Director, disburse during any one calendar year more than 10% of the aggregate amount of payments received from subscribers during that …

(215 ILCS 155/18.1) Sec. 18.1. Choice of title insurance company. It is declared to be the public policy of this State that parties to a contract for the sale of residential real property who are obligated to provide and pay for title insurance have the right to choose the title …

(215 ILCS 5/180) (from Ch. 73, par. 792) Sec. 180. Companies that may domesticate. (1) Any domestic, foreign, or alien stock company, mutual company, assessment legal reserve company, reciprocal, or fraternal benefit society, authorized or which may be authorized to do business i…

(215 ILCS 5/1801) (Text of Section from P.A. 104-534) Sec. 1801. Short title. This Article may be referred to as the Climate Risk Disclosure Law. (Source: P.A. 104-534, eff. 6-26-26.) (Text of Section from P.A. 104-752) Sec. 1801. Purpose. The purpose of this Article is to promot…

(215 ILCS 5/1802) (Text of Section from P.A. 104-752) Sec. 1802. Applicability. (a) This Article applies to policies of fire and extended coverage insurance, as defined in subsection (b) of Section 143.13 of this Code, to which Section 143.11 of this Code applies. This Article do…

(215 ILCS 5/1803) (Text of Section from P.A. 104-752) Sec. 1803. Rate standards; excessive, inadequate, or unfairly discriminatory. (a) Rates shall not be excessive, inadequate, or unfairly discriminatory. (b) A rate is inadequate if it endangers the solvency of the insurer. (c) …

(215 ILCS 5/1804) (Text of Section from P.A. 104-752) Sec. 1804. Determinations and notice; hearing. (a) If the Department determines via actuarial review that a filing is excessive, inadequate, or unfairly discriminatory pursuant to Section 1803, the Department shall send the co…

(215 ILCS 5/1805) (Text of Section from P.A. 104-534) Sec. 1805. Purpose. The purpose of this Article is to enhance transparency about how insurers manage climate-related risks and to clarify the Department's authority to require companies to participate in the National Associati…

(215 ILCS 5/181) (from Ch. 73, par. 793) Sec. 181. Articles of reorganization. (1) The board of directors, trustees or other governing body of any such company desiring to reorganize under this Article shall comply with all laws and requirements of its domiciliary state or countr…

(215 ILCS 5/1810) Sec. 1810. Applicability. This Article applies to every company licensed in Illinois under Classes 1, 2, or 3 of Section 4 of this Code and every dental service plan corporation, health maintenance organization, or limited health service organization licensed in…

(215 ILCS 5/1815) Sec. 1815. Climate disclosure survey participation. All companies, corporations, and organizations subject to this Article shall, upon direction from the Department, participate in the National Association of Insurance Commissioners' Climate Risk Disclosure Surv…

(215 ILCS 5/182) (from Ch. 73, par. 794) Sec. 182. Execution of articles. The articles of reorganization shall be executed in duplicate by the president or vice-president, and secretary or assistant secretary of the company, or the executive officers corresponding thereto, and sh…

(215 ILCS 5/183) (from Ch. 73, par. 795) Sec. 183. Certificate of Reorganization - Date Reorganization Effected. (1) Upon the execution of the articles of reorganization there shall be delivered to the Director (a) two duplicate originals of the articles; (b) a copy of the resolu…

(215 ILCS 5/184) (from Ch. 73, par. 796) Sec. 184. Recording Articles of Reorganization. The articles of reorganization, approved by the Director and returned to the reorganized company, shall be recorded in the office of the recorder in the county where the principal office of t…

(215 ILCS 5/185) (from Ch. 73, par. 797) Sec. 185. Board of directors, trustees, etc. to continue. The directors, trustees, or members of any other governing body of the company so reorganized, shall become the directors, trustees or members of the governing body of the reorganiz…

(215 ILCS 5/185.1) (from Ch. 73, par. 797.1) Sec. 185.1. Effect of Reorganization. When the reorganization has been effected: (a) The articles of reorganization shall be the articles of incorporation of the reorganized company and said company shall continue in existence as, and …

(215 ILCS 5/185.2) (from Ch. 73, par. 797.2) Sec. 185.2. Conversion to Foreign Insurer. Any domestic insurer may, upon the approval of the Director, transfer its domicile to any other state in which it is admitted to transact the business of insurance, and upon such a transfer sh…

(215 ILCS 5/187) (from Ch. 73, par. 799) Sec. 187. Scope of Article. (1) This Article shall apply to every corporation, association, society, order, firm, company, partnership, individual, and aggregation of individuals to which any Article of this Code is applicable, or which is…

(215 ILCS 5/188) (from Ch. 73, par. 800) Sec. 188. Grounds for rehabilitation and liquidation of a domestic company or an unauthorized foreign or alien company. Whenever any domestic company or any unauthorized foreign or alien company: 1. is insolvent; 2. has failed or refused t…

(215 ILCS 5/188.1) (from Ch. 73, par. 800.1) Sec. 188.1. Provisions for conservation of assets of a domestic, foreign, or alien company. (1) Upon the filing by the Director of a verified complaint alleging (a) that with respect to a domestic, foreign, or alien company, whether au…

(215 ILCS 5/188.2) Sec. 188.2. Grounds for and provisions applicable to rehabilitation or liquidation of a domestic company that is a covered financial company under the federal Dodd-Frank Wall Street Reform and Consumer Protection Act. (a) The provisions of this Section apply in…

(215 ILCS 5/189) (from Ch. 73, par. 801) Sec. 189. Injunction. The court shall have jurisdiction, upon, or at any time after the filing of the complaint to issue an injunction restraining such company and its officers, agents, directors, employees and all other persons from trans…

(215 ILCS 110/19) (from Ch. 32, par. 690.19) Sec. 19. Every dentist licensed in Illinois to practice dentistry, and who is reputable and in good standing, shall be eligible to become a participating dentist in the dental service plan corporation operating in the geographic area i…

(215 ILCS 5/19) (from Ch. 73, par. 631) (Section scheduled to be repealed on January 1, 2037) Sec. 19. Recording articles of incorporation. The duplicate original of the articles of incorporation returned by the Director shall be filed for record, within 15 days after it is deliv…

(215 ILCS 150/19) (from Ch. 148, par. 219) Sec. 19. Every trust fund established hereunder shall include in the written trust instrument the basis on which payments are made to and from the trust fund. (Source: P.A. 80-530.)

(215 ILCS 155/19) (from Ch. 73, par. 1419) Sec. 19. Secretary powers; pricing. Nothing contained in this Act shall be construed as giving any authority to the Secretary to set or otherwise adjust the fees charged to the parties to the transaction for: (1) issuing a title insuranc…

(215 ILCS 165/19) (from Ch. 32, par. 613) Sec. 19. No such corporation shall disburse as administrative expenses during any one year, except upon approval of the Director, a sum greater than 20% of payments received from subscribers during that year. The term "administrative expe…

(215 ILCS 5/190) (from Ch. 73, par. 802) Sec. 190. Practice, hearing, order and appeal. (1) The defendant company shall appear within 10 days after the service of the summons as in this Article provided, exclusive of the day of service. If, on the return day of the summons the de…

(215 ILCS 5/190.1) (from Ch. 73, par. 802.1) Sec. 190.1. Appeal of order directing liquidation - special claims procedure. (1) Within 5 days of the effective date of this amendatory Act of 1982, or, if later, within 5 days after the filing of a notice of appeal of an order of liq…

(215 ILCS 5/191) (from Ch. 73, par. 803) Sec. 191. Title to property of company. The Director and his successor and successors in office shall be vested by operation of law with the title to all property, contracts, and rights of action of the company as of the date of the order …

(215 ILCS 5/192) (from Ch. 73, par. 804) Sec. 192. Duties of Director as rehabilitator; termination. (1) Upon the entry of an order directing rehabilitation, the Director shall immediately proceed to conduct the business of the company and take such steps towards removal of the c…

(215 ILCS 5/193) (from Ch. 73, par. 805) Sec. 193. Duties of Director as liquidator; sales; reinsurance. (1) Upon the entry of an order directing liquidation, the Director shall immediately proceed to liquidate the property, business, and affairs of the company. The Director is h…