¡Disfruta de SmartLeges Premium!

Suscríbete a SmartLeges Premium y disfruta de estas ventajas:

  • Consulta tantas leyes como necesites, gratuitas o de pago, sin coste adicional
  • Consulta casi cualquier ley en varios países gracias al nuevo buscador avanzado. ¡Toda la legislación a tu alcance!
  • Disfruta de todas las características de SmartLeges sin restricciones
Ver los planes

Una aplicación imprescindible y gratuita para profesionales y estudiantes del sector jurídico

Leer más
 

¡Regístrate gratis!

¿Quieres consultar esta y otras leyes completas?

Regístrate gratis y podrás consultar las leyes en tu móvil o tablet, además de subrayar textos, añadir notas...

¡Regístrate gratis!

Compartir esta ley Otras leyes de Estados Unidos
Email Facebook Twitter Google Linkedin Tumblr

ILLINOIS
INSURANCE

Last update: 2011-11-09


  • Illinois Insurance Code.
    • Article I. Short Title, Definitions and Classifications
    • Article II. Domestic Stock Companies
    • Article IIA. Risk-based Capital
    • Article III. Domestic Mutual Companies
    • Article III 1/2. Alien Companies
    • Article IV. Reciprocals
    • Article V. Lloyds
    • Article V 1/2. Insurance Exchange
    • Article V 3/4. Group Workers' Compensation; Pools; Pooling; Insolvency Fund
    • Article VI. Foreign or Alien Companies
    • Article VII. Unauthorized Companies
    • Article VIIA. Advisory Organizations
    • Article VIIB. Risk Retention Companies
    • Article VIIC. Domestic Captive Insurance Companies
    • Article VIID. Nonprofit Risk Organizations
    • Article VIII. Investments of Domestic Companies
      • Part 1. General Provisions
      • Part 2. Life and Health Insurers
      • Part 3. Property and Casualty Insurers
    • Article VIII 1/2. Insurance Holding Company Systems
    • Article IX. Provisions Applicable to All Companies
    • Article IX 1/2. Credit Life and Credit Accident and Health Insurance
    • Article X. Merger, Consolidation or Plans of Exchange
    • Article XI. Reinsurance
    • Article XI 1/2. Protected Cell Companies
    • Article XIE. Special Purpose Reinsurance Vehicle Law
    • Article XII. Domestication of Foreign and Alien Companies
    • Article XII 1/2. Corrective Orders
    • Article XIII. Rehabilitation, Liquidation, Conservation and Dissolution of Companies
    • Article XIII 1/2. Uniform Provisions for Liquidation
    • Article XIV. Legal Reserve Life Insurance
    • ArticleXIVv 1/2. Separate Accounts
    • Article XV. Registration of Policies and Deposit of Reserves
    • Article XVI. Assessment Legal Reserve Life Companies
    • Article XVII. Fraternal Benefit Societies
    • Article XVIII. Mutual Benefit Associations
    • Article XIX. Burial Societies
    • Article XIXA. Long-term Care Insurance
    • Article XIXB. Small Employer Group Health Insurance Law
    • Article XX. Accident and Health Insurance
    • Article XX-1/2. Health Care Reimbursement
    • Article XXII. Casualty Insurance, Fidelity Bonds and Surety Contracts
    • Article XXIII. Fire and Marine Insurance
    • Article XXIV. Director of Insurance, Hearings and Review
    • Article XXV. Fees, Charges and Taxes
    • Article XXVI. Unfair Methods of Competition and Unfair and Deceptive Acts and Practices
    • Article XXVIII. Final Provisions
    • Article XXIX. Workers' Compensation and Employer's Liability Rates
    • Article XXXI. Insurance Producers, Limited Insurance Representatives and Registered Firms
    • Article XXXI 1/4. Third Party Administrators
    • Article XXXI 1/2. Third Party Prescription Programs
    • Article XXXI 3/4. Public Insurance Adjusters and Registered Firms
    • Article XXXIIA. Premium Finance Regulation
    • Article XXXIII. Urban Property Insurance
    • Article XXXIII 1/2. Life and Health Insurance Guaranty Association
    • Article XXXIV. Illinois Insurance Guaranty Fund
    • Article XXXVIII. (repealed by P.a. 88-379)
    • Article XXXVIIIA. Mine Subsidence Insurance
    • Article XXXVIII 1/2. Group Self-insurance Programs (repealed by P.a. 89-97, Eff. 7-7-95)
    • Article XXXIX. Group Legal Expense Insurance
    • Article XL. Insurance Information and Privacy Protection
    • Article XLI. Risk Retention Arrangements for Banking Associations
    • Article XLII. Insurance Cost Containment
    • Article XLIII. Mortgage Insurance Consolidation
    • Article XLIV. Financial Institutions Insurance Sales Law
    • Article XLV. Public Adjusters
  • Small Employer Health Insurance Rating Act.
  • Illinois Health Insurance Portability and Accountability Act.
  • Reinsurance Intermediary Act.
  • Comprehensive Health Insurance Plan Act.
  • Children's Health Insurance Program Act.
  • Producer Controlled Insurer Act.
  • Dental Care Patient Protection Act.
  • Dental Service Plan Act.
  • Employee Leasing Company Act.
  • Employees Dental Freedom of Choice Act.
  • Farm Mutual Insurance Company Act of 1986.
  • Illinois Health Benefits Exchange Law.
    • Article 5. Illinois Health Benefits Exchange
    • Article 99. Effective Date
  • Health Care Purchasing Group Act.
  • Health Maintenance Organization Act.
    • Article I. Short Title and Definitions
    • Article II. Certificate of Authority, General Corporate and Financial Requirements
    • Article III. Investments
    • Article IV. Delivery of Services
    • Article IV.5. Point-of-service Products
    • Article V. General Provisions
    • Article VI. Health Maintenance Organization Guaranty Association
  • Limited Health Service Organization Act.
    • Article 1. Short Title and Definitions
    • Article 2. Certificate of Authority; General Corporate and Financial Requirements
    • Article 3. Delivery of Services; Required Provisions and Marketing
    • Article 4. General Provisions
  • Illinois Long-term Care Partnership Program Act.
  • Managed Care Reform and Patient Rights Act.
  • Portable Electronics Insurance Act.
  • Uniform Prescription Drug Information Card Act.
  • Uniform Health Care Service Benefits Information Card Act.
  • Property Fire Loss Act.
  • Religious and Charitable Risk Pooling Trust Act.
  • Service Contract Act.
  • Structured Settlement Protection Act.
  • Title Insurance Act.
  • Use of Credit Information in Personal Insurance Act.
  • Viatical Settlements Act of 2009.
  • Voluntary Health Services Plans Act.
  • Covering All Kids Health Insurance Act.
  • Organ Transplant Medication Notification Act.
  • Health Carrier External Review Act.

ILLINOIS INSURANCE CODE.

Article I
Short Title, Definitions and Classifications

Section 1. Short Title

(215 ILCS 5/1) (from Ch. 73, par. 613)

This Act shall be known and may be cited as the Illinois Insurance Code.

(Source: P.A. 96-328, eff. 8-11-09.)

Section 2. General Definitions.

(215 ILCS 5/2) (from Ch. 73, par. 614)

In this Code, unless the context otherwise requires,

(a) "Director" means the Director of Insurance.

(b) "Department" means the Department of Insurance.

(c) "State" or "State of the United States" includes the District of Columbia and a territory or possession of the United States.

(d) "Country" or "Foreign Country" includes a state, province or political subdivision thereof.

(e) "Company" means an insurance or surety company and shall be deemed to include a corporation, company, partnership, association, society, order, individual or aggregation of individuals engaging in or proposing or attempting to engage in any kind of insurance or surety business, including the exchanging of reciprocal or inter-insurance contracts between individuals, partnerships and corporations.

(f) "Domestic Company" means a company incorporated or organized under the laws of this State.

(g) "Foreign Company" means a company incorporated or organized under the laws of any state of the United States other than this State.

(h) "Alien Company" means a company incorporated or organized under the laws of any country other than the United States.

(i) "Mutual Legal Reserve Life Company" means a mutual life company issuing contracts without contingent liability on the policyholder.

(j) "Assessment Legal Reserve Life Company" means a life company issuing contracts providing for contingent liability on the policyholder.

(k) "Reciprocal" includes Inter-Insurance Exchange.

(l) "Person" includes an individual, aggregation of individuals, corporation, association and partnership.

(m) Personal pronouns include all genders, the singular includes the plural and the plural includes the singular.

(n) "Policy" means an insurance policy or contract and includes certificates of fraternal benefit societies, assessment companies, mutual benefit associations, and burial societies.

(o) "Policyholder" means a holder of an insurance policy or contract and includes holders of certificates of fraternal benefit societies, assessment companies, mutual benefit associations, and burial societies.

(p) "Articles of Incorporation" means the basic instrument of an incorporated company and all amendments thereto and includes "Charter," "Articles of Organization," "Articles of Reorganization," "Articles of Association," and "Deed of Settlement."

(q) "Officer" when used to refer to an officer of a company includes an attorney-in-fact for a reciprocal or Lloyds.

(Source: Laws 1937, p. 696.)

Section 2.1. Public Policy.

(215 ILCS 5/2.1) (from Ch. 73, par. 614.1)

It is declared to be the public policy of this State, pursuant to paragraphs (h) and (i) of Section 6 of Article VII of the Illinois Constitution of 1970, that any power or function set forth in this Act to be exercised by the State is an exclusive State power or function. Such power or function shall not be exercised concurrently, either directly or indirectly, by any unit of local government, including home rule units, except as otherwise provided in this Act. Provided further that the fees, charges and taxes provided for by this Act shall, as provided for in Section 415 of this Act, be in lieu of all license fees or privilege or occupation taxes or other fees levied or assessed by any home rule unit and said Section 415 of this Act is declared to be a denial and limitation of the powers of home rule units pursuant to paragraph (g) of Section 6 of Article VII of the Illinois Constitution of 1970.

(Source: P. A. 78-1224.)

Section 2.5. Exemption

(215 ILCS 5/2.5)

This Code shall not be construed to apply to the administration of the Drycleaner Environmental Response Trust Fund under the Drycleaner Environmental Response Trust Fund Act.

(Source: P.A. 90-502, eff. 8-19-97.)

Section 3.1. Definitions of Admitted Assets

(215 ILCS 5/3.1) (from Ch. 73, par. 615.1)

"Admitted Assets" includes the investments authorized or permitted by this Code, the credit for reinsurance allowed by this Code, and in addition thereto, only the following:

(1) Amounts, other than premium, receivable from affiliates, not outstanding for more than 3 months, and arising under, management contracts or service agreements which meet the requirements of Section 141.1 of the Illinois Insurance Code to the extent that the affiliate has liquid assets sufficient to pay the balance. The amount of those receivables included in admitted assets may not exceed the lesser of 5% of the company's admitted assets or 10% of the company's surplus as regards policyholders. For purposes of this subsection, "affiliate" has the meaning given that term in Article VIII 1/2 of the Illinois Insurance Code.

(2) Amounts permitted under Section 136.

(Source: P.A. 90-418, eff. 8-15-97; 91-549, eff. 8-14-99.)

Section 4. Classes of Insurance

(215 ILCS 5/4) (from Ch. 73, par. 616)

Insurance and insurance business shall be classified as follows:

Class 1. Life, Accident and Health.

(a) Life. Insurance on the lives of persons and every insurance appertaining thereto or connected therewith and granting, purchasing or disposing of annuities. Policies of life or endowment insurance or annuity contracts or contracts supplemental thereto which contain provisions for additional benefits in case of death by accidental means and provisions operating to safeguard such policies or contracts against lapse, to give a special surrender value, or special benefit, or an annuity, in the event, that the insured or annuitant shall become totally and permanently disabled as defined by the policy or contract, or which contain benefits providing acceleration of life or endowment or annuity benefits in advance of the time they would otherwise be payable, as an indemnity for long term care which is certified or ordered by a physician, including but not limited to, professional nursing care, medical care expenses, custodial nursing care, non-nursing custodial care provided in a nursing home or at a residence of the insured, or which contain benefits providing acceleration of life or endowment or annuity benefits in advance of the time they would otherwise be payable, at any time during the insured's lifetime, as an indemnity for a terminal illness shall be deemed to be policies of life or endowment insurance or annuity contracts within the intent of this clause.

Also to be deemed as policies of life or endowment insurance or annuity contracts within the intent of this clause shall be those policies or riders that provide for the payment of up to 75% of the face amount of benefits in advance of the time they would otherwise be payable upon a diagnosis by a physician licensed to practice medicine in all of its branches that the insured has incurred a covered condition listed in the policy or rider.

"Covered condition", as used in this clause, means: heart attack, stroke, coronary artery surgery, life threatening cancer, renal failure, alzheimer's disease, paraplegia, major organ transplantation, total and permanent disability, and any other medical condition that the Department may approve for any particular filing.

The Director may issue rules that specify prohibited policy provisions, not otherwise specifically prohibited by law, which in the opinion of the Director are unjust, unfair, or unfairly discriminatory to the policyholder, any person insured under the policy, or beneficiary.

(b) Accident and health. Insurance against bodily injury, disablement or death by accident and against disablement resulting from sickness or old age and every insurance appertaining thereto, including stop-loss insurance. Stop-loss insurance is insurance against the risk of economic loss issued to a single employer self-funded employee disability benefit plan or an employee welfare benefit plan as described in 29 U.S.C. 100 et seq.

(c) Legal Expense Insurance. Insurance which involves the assumption of a contractual obligation to reimburse the beneficiary against or pay on behalf of the beneficiary, all or a portion of his fees, costs, or expenses related to or arising out of services performed by or under the supervision of an attorney licensed to practice in the jurisdiction wherein the services are performed, regardless of whether the payment is made by the beneficiaries individually or by a third person for them, but does not include the provision of or reimbursement for legal services incidental to other insurance coverages. The insurance laws of this State, including this Act do not apply to:

(i) Retainer contracts made by attorneys at law with individual clients with fees based on estimates of the nature and amount of services to be provided to the specific client, and similar contracts made with a group of clients involved in the same or closely related legal matters;

(ii) Plans owned or operated by attorneys who are the providers of legal services to the plan;

(iii) Plans providing legal service benefits to groups where such plans are owned or operated by authority of a state, county, local or other bar association;

(iv) Any lawyer referral service authorized or operated by a state, county, local or other bar association;

(v) The furnishing of legal assistance by labor unions and other employee organizations to their members in matters relating to employment or occupation;

(vi) The furnishing of legal assistance to members or dependents, by churches, consumer organizations, cooperatives, educational institutions, credit unions, or organizations of employees, where such organizations contract directly with lawyers or law firms for the provision of legal services, and the administration and marketing of such legal services is wholly conducted by the organization or its subsidiary;

(vii) Legal services provided by an employee welfare benefit plan defined by the Employee Retirement Income Security Act of 1974;

(viii) Any collectively bargained plan for legal services between a labor union and an employer negotiated pursuant to Section 302 of the Labor Management Relations Act as now or hereafter amended, under which plan legal services will be provided for employees of the employer whether or not payments for such services are funded to or through an insurance company.

Class 2. Casualty, Fidelity and Surety.

(a) Accident and health. Insurance against bodily injury, disablement or death by accident and against disablement resulting from sickness or old age and every insurance appertaining thereto, including stop-loss insurance. Stop-loss insurance is insurance against the risk of economic loss issued to a single employer self-funded employee disability benefit plan or an employee welfare benefit plan as described in 29 U.S.C. 1001 et seq.

(b) Vehicle. Insurance against any loss or liability resulting from or incident to the ownership, maintenance or use of any vehicle (motor or otherwise), draft animal or aircraft. Any policy insuring against any loss or liability on account of the bodily injury or death of any person may contain a provision for payment of disability benefits to injured persons and death benefits to dependents, beneficiaries or personal representatives of persons who are killed, including the named insured, irrespective of legal liability of the insured, if the injury or death for which benefits are provided is caused by accident and sustained while in or upon or while entering into or alighting from or through being struck by a vehicle (motor or otherwise), draft animal or aircraft, and such provision shall not be deemed to be accident insurance.

(c) Liability. Insurance against the liability of the insured for the death, injury or disability of an employee or other person, and insurance against the liability of the insured for damage to or destruction of another person's property.

(d) Workers' compensation. Insurance of the obligations accepted by or imposed upon employers under laws for workers' compensation.

(e) Burglary and forgery. Insurance against loss or damage by burglary, theft, larceny, robbery, forgery, fraud or otherwise; including all householders' personal property floater risks.

(f) Glass. Insurance against loss or damage to glass including lettering, ornamentation and fittings from any cause.

(g) Fidelity and surety. Become surety or guarantor for any person, copartnership or corporation in any position or place of trust or as custodian of money or property, public or private; or, becoming a surety or guarantor for the performance of any person, copartnership or corporation of any lawful obligation, undertaking, agreement or contract of any kind, except contracts or policies of insurance; and underwriting blanket bonds. Such obligations shall be known and treated as suretyship obligations and such business shall be known as surety business.

(h) Miscellaneous. Insurance against loss or damage to property and any liability of the insured caused by accidents to boilers, pipes, pressure containers, machinery and apparatus of any kind and any apparatus connected thereto, or used for creating, transmitting or applying power, light, heat, steam or refrigeration, making inspection of and issuing certificates of inspection upon elevators, boilers, machinery and apparatus of any kind and all mechanical apparatus and appliances appertaining thereto; insurance against loss or damage by water entering through leaks or openings in buildings, or from the breakage or leakage of a sprinkler, pumps, water pipes, plumbing and all tanks, apparatus, conduits and containers designed to bring water into buildings or for its storage or utilization therein, or caused by the falling of a tank, tank platform or supports, or against loss or damage from any cause (other than causes specifically enumerated under Class 3 of this Section) to such sprinkler, pumps, water pipes, plumbing, tanks, apparatus, conduits or containers; insurance against loss or damage which may result from the failure of debtors to pay their obligations to the insured; and insurance of the payment of money for personal services under contracts of hiring.

(i) Other casualty risks. Insurance against any other casualty risk not otherwise specified under Classes 1 or 3, which may lawfully be the subject of insurance and may properly be classified under Class 2.

(j) Contingent losses. Contingent, consequential and indirect coverages wherein the proximate cause of the loss is attributable to any one of the causes enumerated under Class 2. Such coverages shall, for the purpose of classification, be included in the specific grouping of the kinds of insurance wherein such cause is specified.

(k) Livestock and domestic animals. Insurance against mortality, accident and health of livestock and domestic animals.

(l) Legal expense insurance. Insurance against risk resulting from the cost of legal services as defined under Class 1(c).

Class 3. Fire and Marine, etc.

(a) Fire. Insurance against loss or damage by fire, smoke and smudge, lightning or other electrical disturbances.

(b) Elements. Insurance against loss or damage by earthquake, windstorms, cyclone, tornado, tempests, hail, frost, snow, ice, sleet, flood, rain, drought or other weather or climatic conditions including excess or deficiency of moisture, rising of the waters of the ocean or its tributaries.

(c) War, riot and explosion. Insurance against loss or damage by bombardment, invasion, insurrection, riot, strikes, civil war or commotion, military or usurped power, or explosion (other than explosion of steam boilers and the breaking of fly wheels on premises owned, controlled, managed, or maintained by the insured.)

(d) Marine and transportation. Insurance against loss or damage to vessels, craft, aircraft, vehicles of every kind, (excluding vehicles operating under their own power or while in storage not incidental to transportation) as well as all goods, freights, cargoes, merchandise, effects, disbursements, profits, moneys, bullion, precious stones, securities, chooses in action, evidences of debt, valuable papers, bottomry and respondentia interests and all other kinds of property and interests therein, in respect to, appertaining to or in connection with any or all risks or perils of navigation, transit, or transportation, including war risks, on or under any seas or other waters, on land or in the air, or while being assembled, packed, crated, baled, compressed or similarly prepared for shipment or while awaiting the same or during any delays, storage, transshipment, or reshipment incident thereto, including marine builder's risks and all personal property floater risks; and for loss or damage to persons or property in connection with or appertaining to marine, inland marine, transit or transportation insurance, including liability for loss of or damage to either arising out of or in connection with the construction, repair, operation, maintenance, or use of the subject matter of such insurance, (but not including life insurance or surety bonds); but, except as herein specified, shall not mean insurances against loss by reason of bodily injury to the person; and insurance against loss or damage to precious stones, jewels, jewelry, gold, silver and other precious metals whether used in business or trade or otherwise and whether the same be in course of transportation or otherwise, which shall include jewelers' block insurance; and insurance against loss or damage to bridges, tunnels and other instrumentalities of transportation and communication (excluding buildings, their furniture and furnishings, fixed contents and supplies held in storage) unless fire, tornado, sprinkler leakage, hail, explosion, earthquake, riot and civil commotion are the only hazards to be covered; and to piers, wharves, docks and slips, excluding the risks of fire, tornado, sprinkler leakage, hail, explosion, earthquake, riot and civil commotion; and to other aids to navigation and transportation, including dry docks and marine railways, against all risk.

(e) Vehicle. Insurance against loss or liability resulting from or incident to the ownership, maintenance or use of any vehicle (motor or otherwise), draft animal or aircraft, excluding the liability of the insured for the death, injury or disability of another person.

(f) Property damage, sprinkler leakage and crop. Insurance against the liability of the insured for loss or damage to another person's property or property interests from any cause enumerated in this class; insurance against loss or damage by water entering through leaks or openings in buildings, or from the breakage or leakage of a sprinkler, pumps, water pipes, plumbing and all tanks, apparatus, conduits and containers designed to bring water into buildings or for its storage or utilization therein, or caused by the falling of a tank, tank platform or supports or against loss or damage from any cause to such sprinklers, pumps, water pipes, plumbing, tanks, apparatus, conduits or containers; insurance against loss or damage from insects, diseases or other causes to trees, crops or other products of the soil.

(g) Other fire and marine risks. Insurance against any other property risk not otherwise specified under Classes 1 or 2, which may lawfully be the subject of insurance and may properly be classified under Class 3.

(h) Contingent losses. Contingent, consequential and indirect coverages wherein the proximate cause of the loss is attributable to any of the causes enumerated under Class 3. Such coverages shall, for the purpose of classification, be included in the specific grouping of the kinds of insurance wherein such cause is specified.

(i) Legal expense insurance. Insurance against risk resulting from the cost of legal services as defined under Class 1(c).

(Source: P.A. 90-741, eff. 8-13-98; 90-810, eff. 1-6-99.)

Section 5. Classes of Companies.

(215 ILCS 5/5) (from Ch. 73, par. 617)

(1) All Companies now or hereafter authorized to transact business in this State shall be classified according to their functions into one or more of the classes of insurance enumerated in section 4.

(2) No company shall be authorized to transact any kind or kinds of business other than those enumerated in its respective class, or classes, except as otherwise specifically provided in this Code, but any company, upon complying with all applicable provisions of this Code, may be authorized to transact all or any part of its business on the basis of reinsurance, except that no certificate of authority shall be limited in whole or in part to reinsurance unless the restriction as to such reinsurance is expressed in the articles of incorporation of said company.

(Source: Laws 1959, p. 638.)

Section 5.5. Compliance With the Department of Healthcare and Family Services

(215 ILCS 5/5.5)

A company authorized to do business in this State or accredited by the State to issue policies of health insurance, including but not limited to, self-insured plans, group health plans (as defined in Section 607(1) of the Employee Retirement Income Security Act of 1974), service benefit plans, managed care organizations, pharmacy benefit managers, or other parties that are by statute, contract, or agreement legally responsible for payment of a claim for a health care item or service as a condition of doing business in the State must:

(1) provide to the Department of Healthcare and Family Services, or any successor agency, on at least a quarterly basis if so requested by the Department, information to determine during what period any individual may be, or may have been, covered by a health insurer and the nature of the coverage that is or was provided by the health insurer, including the name, address, and identifying number of the plan;

(2) accept the State's right of recovery and the assignment to the State of any right of an individual or other entity to payment from the party for an item or service for which payment has been made under the medical programs of the Department of Healthcare and Family Services, or any successor agency, under this Code or the Illinois Public Aid Code;

(3) respond to any inquiry by the Department of Healthcare and Family Services regarding a claim for payment for any health care item or service that is submitted not later than 3 years after the date of the provision of such health care item or service; and

(4) agree not to deny a claim submitted by the Department of Healthcare and Family Services solely on the basis of the date of submission of the claim, the type or format of the claim form, or a failure to present proper documentation at the point-of-sale that is the basis of the claim if (i) the claim is submitted by the Department of Healthcare and Family Services within the 3-year period beginning on the date on which the item or service was furnished and (ii) any action by the Department of Healthcare and Family Services to enforce its rights with respect to such claim is commenced within 6 years of its submission of such claim.

In cases in which the Department of Healthcare and Family Services has determined that an entity that provides health insurance coverage has established a pattern of failure to provide the information required under this Section, and has subsequently certified that determination, along with supporting documentation, to the Director of the Department of Insurance, the Director of the Department of Insurance, based upon the certification of determination made by the Department of Healthcare and Family Services, may commence regulatory proceedings in accordance with all applicable provisions of the Illinois Insurance Code.

(Source: P.A. 95-632, eff. 9-25-07; 96-1501, eff. 1-25-11.)

Article II
Domestic Stock Companies

Section 6. Scope of Article

(215 ILCS 5/6) (from Ch. 73, par. 618)
(Section scheduled to be repealed on January 1, 2017)

This article shall apply to all domestic stock companies transacting or being organized to transact any of the kinds of insurance business enumerated in section 4.

(Source: Laws 1937, p. 696.)

Section 7. Name

(215 ILCS 5/7) (from Ch. 73, par. 619)
(Section scheduled to be repealed on January 1, 2017)

The corporate name of any company organized under this article shall not be the same as, or deceptively similar to, the name of any domestic company, or of any foreign or alien company authorized to transact business in this State.

(Source: Laws 1937, p. 696.)

Section 8. Principal Office and Place of Business

(215 ILCS 5/8) (from Ch. 73, par. 620)
(Section scheduled to be repealed on January 1, 2017)

The principal office of any company organized under this article shall be located in this State. Unless the Director has approved otherwise, the principal place of business of any company organized under this article shall be located in this State.

(Source: P.A. 82-498.)

Section 9. Authorized Kinds of Business.

(215 ILCS 5/9) (from Ch. 73, par. 621)
(Section scheduled to be repealed on January 1, 2017)

(1) Companies may be organized under this article either for the purpose of transacting any of the kind or kinds of business enumerated in Class 1 of Section 4, or for the purpose of transacting any of the kind or kinds of business enumerated in Classes 2 and 3 of that Section, except that those companies offering mortgage pool or mortgage guaranty insurance may provide no other types of insurance.

(2) A domestic company may, notwithstanding limitations otherwise applicable, and provided it maintains books and records which account for such business, engage directly in any of the following businesses: (a) rendering investment advice; (b) rendering services related to the functions involved in the operation of its insurance business including, but not limited to, actuarial, loss prevention, safety engineering, data processing, accounting, claims, appraisal and collection services; (c) acting as administrative agent for a government instrumentality which is performing an insurance function for a health or welfare program; (d) reinsuring the business of title insurance companies, provided such domestic company if organized as a stock company shall have capital and surplus of not less than $5,000,000 and if organized as a domestic mutual or reciprocal company have surplus of not less than $5,000,000; (e) any other business activity reasonably complementary or supplementary to its insurance business; either to the extent necessarily or properly incidental to the insurance business the company is authorized to do in this State or to the extent approved by the Director and subject to any limitations he may prescribe for the protection of the interests of the policyholders of the company taking into account the effect of such business on the company's existing insurance business and its surplus, the proposed allocation of the estimated cost of such business and the risks inherent in such business as well as the relative advantages to the company and its policyholders of conducting such business directly instead of through a subsidiary.

(Source: P.A. 86-1156.)