reglab/housing_qa huggingface dataset:
215 ILCS 5/35A-25
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IIA - Risk-Based Capital

Sec. 35A-25.     Authorized control event.(a) An authorized control event means any of the following events:(1) The filing of an RBC Report by the insurer that     indicates that the insurer's total adjusted capital is greater than or equal to its mandatory control level RBC, but less than its authorized control level RBC.(2) The notification by the Director to the insurer     of an Adjusted RBC Report that indicates the event described in paragraph (1), provided the insurer does not challenge the Adjusted RBC Report under Section 35A-35.(3) The notification by the Director to the insurer     that the Director has, after a hearing, rejected the insurer's challenge under Section 35A-35 to an Adjusted RBC Report that indicates the event described in paragraph (1).(4) The insurer's failure to respond to a Corrective     Order in a manner satisfactory to the Director, provided the insurer does not challenge the Corrective Order under Section 35A-35.(5) The insurer's failure to respond to a challenged     or modified Corrective Order in a manner satisfactory to the Director after the Director has, after a hearing, rejected the insurer's challenge under Section 35A-35 or modified the Corrective Order.(b) In the event of an authorized control level event, the Director shall  take  the actions required under Section 35A-20 regarding an insurer with respect to  which a regulatory action level event has occurred or, if the Director deems it  to be in the best interests of the insurer's policyholders and creditors and of  the public, take the actions necessary to cause the insurer to be placed in  receivership under Article XIII.  In the event the Director determines  that receivership is necessary, the authorized control level event shall be  deemed sufficient grounds for the Director to take action under Article XIII,  and the Director shall have the rights, powers, and duties with respect to the  insurer that are set forth in Article XIII.  In the event the Director takes  action under this subsection regarding an Adjusted RBC Report, the insurer  shall be entitled to the protections afforded insurers under Article  XIII.    (Source: P.A. 88-364.)
215 ILCS 5/35A-35
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IIA - Risk-Based Capital

Sec. 35A-35.     Hearings.(a) An insurer has the right to an administrative hearing with respect to  any of the following:(1) The notification by the Director to the insurer     of an Adjusted RBC Report.(2) The notification by the Director to the insurer     that the insurer's RBC Plan or Revised RBC Plan is unsatisfactory and that the notification constitutes a regulatory action level event.(3) The notification by the Director to the insurer     that the insurer has failed to adhere to its RBC Plan or Revised RBC Plan and that the failure has a substantial adverse effect on the ability of the insurer to eliminate the company action level event in accordance with its RBC Plan or Revised RBC Plan.(b) At the administrative hearing, the insurer may challenge any  determination or action by the Director.  The insurer shall notify the  Director of its request for a hearing  within 5 days after notification by the Director made under  subsection (a).  Upon receipt of the insurer's request for a hearing, the  Director shall set a date for the hearing.  The hearing shall be held no fewer  than 10 days and no more than 30 days after the date of the insurer's request  for the hearing.    (Source: P.A. 90-794, eff. 8-14-98.)
215 ILCS 5/35A-40
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IIA - Risk-Based Capital

Sec. 35A-40.     Foreign insurers.(a) Upon the written request of the Director, a foreign insurer shall submit  to the Director an RBC Report as of the end of the previous calendar year no  later than the later of the date an RBC Report would be required to be filed by  a domestic insurer under this Article or 15 days after the foreign insurer  receives the Director's request.  Upon the written request of the Director, a  foreign insurer shall promptly submit to the Director a copy of any RBC Plan  that is filed with  the chief insurance regulatory official or any other state.(b) In the event of a company action level event, regulatory  action level  event, or authorized control level event with respect to any foreign  insurer as determined under the RBC statute  applicable in the state of domicile of the insurer or, if no RBC statute is  in force in that state, under the provisions of this Article, if the chief  insurance regulatory official of the state of domicile of the foreign insurer  fails to require the foreign insurer to file an RBC Plan in the manner  specified under that state's RBC statute or, if no RBC statute is in force in that  state, under Section 35A-15, the Director may require the foreign insurer to  file an RBC Plan with the Director.  In that event,  the failure of the foreign insurer to file an RBC Plan with the Director is  grounds to order the insurer to cease and desist from writing new insurance  business in this State.(c) In the event of a mandatory control level event with respect to any  foreign insurer, if no domiciliary receiver has been appointed with respect to  the foreign insurer under the rehabilitation and liquidation statute applicable  in the state of domicile of the foreign insurer, the Director may make  application to the Circuit Court of Sangamon County or Cook County as permitted  under  Article XIII with respect to the liquidation of property of foreign insurers  found in this State, and the occurrence of the mandatory control level event  shall be considered adequate grounds for the application.    (Source: P.A. 88-364; 89-97, eff. 7-7-95.)
215 ILCS 5/35A-45
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IIA - Risk-Based Capital

Sec. 35A-45.     Notices.     All notices by the Director to an insurer that may  result in regulatory action under this Article are effective upon dispatch if  transmitted by registered or certified mail, and are effective upon the  insurer's receipt thereof in the case of any other means of transmission.    (Source: P.A. 88-364.)
215 ILCS 5/35A-50
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IIA - Risk-Based Capital

Sec. 35A-50.     Confidentiality and prohibition on announcements.(a) All RBC Reports, to the extent the information therein is not required  to  be set forth in a publicly available annual statement schedule, and RBC  Plans, including the results or report of any examination or analysis of an  insurer performed under this Article and any Corrective Order issued by the  Director  pursuant to the examination or analysis, with respect to any domestic insurer  or foreign  insurer that are filed with the Director constitute information that might be  damaging to the insurer if made available to its competitors and  shall be kept confidential by the Director. This information shall not be made  public or be subject to subpoena, other than by the Director and then only for  the purpose of enforcement actions taken by the Director under this Code or  other provisions of the insurance laws of this State.(b) It is the judgment of the legislature that the comparison of an  insurer's total adjusted capital to any of its RBC levels is a regulatory tool  that may indicate the need for possible corrective action with respect to the  insurer and not a means to rank insurers generally. Therefore, except as  otherwise required under the provisions of this Code, the disclosure, in any  manner or form, directly or indirectly, of information containing an assertion,  representation, or  statement regarding the RBC levels of any insurer or any component derived  in the calculation of RBC levels by any insurer, insurance producer, limited  insurance producer, broker, or other person engaged in any manner in the  insurance business would be misleading and is prohibited.  In the event that a  materially false statement with respect to the comparison regarding an  insurer's total  adjusted capital to any of its RBC levels or an inappropriate comparison of any  other amount to the insurer's RBC levels is published in any written  publication  and the insurer is able to demonstrate to the Director with substantial proof  the falsity of the statement or the inappropriateness thereof, the insurer may  publish an announcement in a written publication if the sole purpose of the  announcement is to rebut the materially false statement.(c) It is the further judgment of the legislature that the RBC  Instructions,  RBC Reports, Adjusted RBC Reports, RBC Plans, and Revised RBC Plans are  intended  solely for use by the Director in monitoring the solvency of insurers and the  need for possible corrective action with respect to insurers and shall not be  used by the Director for ratemaking or considered or introduced as evidence in  any rate proceeding or used by the Director to calculate or derive any  elements of an appropriate premium level or rate of return for any line of  insurance that an insurer or an affiliate is authorized to write.    (Source: P.A. 88-364; 89-97, eff. 7-7-95.)
215 ILCS 5/35A-55
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IIA - Risk-Based Capital

Sec. 35A-55.     Provisions of Article supplemental; exemptions.(a) The provisions of this Article are supplemental to the provisions of  any other laws of this State and do not preclude or limit other powers or  duties of the Director under any other laws.(b) The Director may exempt from the application of this Article any  domestic property and casualty insurer that:(1) writes direct business only in this State;(2) writes direct annual premiums of $2,000,000 or     less; and(3) assumes no reinsurance in excess of 5% of direct     premium written.(c) The Director may exempt from the application of this Article any  company that is organized under Article IV of this Code, that writes direct  business only in this State, and that assumes no reinsurance in excess of 5% of  direct written premiums.(d) The Director may exempt from the application of this Article any  domestic health organization upon a showing by the health organization of the  reasons for requesting the exemption and a determination by the Director of  good cause for an exemption.(e) The Director may by rule impose upon any insurer exempted from the  application of this Article under subsection (b), (c), or (d) of this Section  conditions to the  exemption that require maintenance of adequate capital.  These conditions shall  not exceed the requirements of this Article.    (Source: P.A. 91-549, eff. 8-14-99.)
215 ILCS 5/35A-65
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IIA - Risk-Based Capital

Sec. 35A-65.     Liability of Director.     There shall be no liability on the  part of, and no cause of  action shall arise against, the Director or the Department or its employees or  agents for any action taken by them in the performance of their powers and  duties under this Article.    (Source: P.A. 89-97, eff. 7-7-95.)
215 ILCS 5/35A-70
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IIA - Risk-Based Capital

(215 ILCS 5/35A-70)Sec. 35A-70.     Severability.     The provisions of this Article are severable  under  Section 1.31 of the Statute on Statutes.    (Source: P.A. 89-97, eff. 7-7-95.)
215 ILCS 5/Art. IIB heading
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IIB - Domestic Stock Company Division

 ARTICLE IIB.  DOMESTIC STOCK COMPANY DIVISION  (Source: P.A. 100-1118, eff. 11-27-18.)
215 ILCS 5/35B-1
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IIB - Domestic Stock Company Division

Sec. 35B-1. Short title. This Article may be cited as the Domestic Stock Company Division Law.  (Source: P.A. 100-1118, eff. 11-27-18.)
215 ILCS 5/35B-5
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IIB - Domestic Stock Company Division

Sec. 35B-5. Purpose. The purpose of this Article is to stimulate economic development in the State of Illinois by creating and sustaining employment opportunities and increasing and sustaining taxable revenue, through improving the competitive position of domestic stock companies, maintaining the competitiveness of this State as a state of domicile for domestic stock companies, and enhancing the desirability of this State as a jurisdiction of domicile for newly incorporating and existing foreign stock companies.  (Source: P.A. 100-1118, eff. 11-27-18.)
215 ILCS 5/35B-10
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IIB - Domestic Stock Company Division

Sec. 35B-10. Definitions. As used in this Article:"Assets" means all assets or property, whether real, personal or mixed, tangible or intangible, and any right or interest therein, including all rights under contracts and other agreements."Capital" means the capital stock component of statutory surplus, as defined in the National Association of Insurance Commissioners Accounting Practices and Procedures Manual, version effective January 1, 2001, and subsequent revisions."Divide" or "division" means the act by operation of law by which a domestic stock company divides into 2 or more resulting companies in accordance with a plan of division and this Article;"Dividing company" means a domestic stock company that approves a plan of division pursuant to Section 35B-20;"Domestic stock company" means a domestic stock company transacting or being organized to transact any of the kinds of insurance business enumerated in Section 4."Liability" means a liability or obligation of any kind, character, or description, whether known or unknown, absolute or contingent, accrued or unaccrued, disputed or undisputed, liquidated or unliquidated, secured or unsecured, joint or several, due or to become due, determined, determinable, or otherwise."New company" means a domestic stock company that is created by a division occurring on or after the effective date of this amendatory Act of the 100th General Assembly."Plan of division" means a plan of division approved by a dividing company in accordance Section 35B-20."Policy liability" means a liability as defined in this Section arising out of or related to an insurance policy, contract of insurance, or reinsurance agreement."Recorder" means the office of the recorder of the county where the principal office of a domestic stock company is located."Resulting company" means a domestic stock company created by a division or a dividing company that survives a division."Shareholder" means the person in whose name shares are registered in the records of a corporation or the beneficial owner of shares to the extent of the rights granted by a nominee certificate on file with a corporation."Sign" or "signature" includes a manual, facsimile, or conformed or electronic signature."Surplus" means total statutory surplus less capital, calculated in accordance with the National Association of Insurance Commissioners Accounting Practices and Procedures Manual, version effective January 1, 2001, and subsequent revisions."Transfer" includes an assignment, assumption, conveyance, sale, lease, encumbrance, including a mortgage or security interest, gift, or transfer by operation of law.  (Source: P.A. 100-1118, eff. 11-27-18.)
215 ILCS 5/35B-20
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IIB - Domestic Stock Company Division

Sec. 35B-20. Requirements of a plan of division.(a) A domestic stock company shall not file a plan of division with the Director unless the plan of division has been approved in accordance with:(1) any applicable provisions of its articles of     incorporation and bylaws; and(2) all laws of this State governing the internal     affairs of a domestic stock company that provide for approval of a merger.(b) If any provision of the articles of incorporation or bylaws of a domestic stock company requires that a specific number or percentage of board of directors or shareholders approve the proposal or adoption of a plan of merger, or imposes other special procedures for the proposal or adoption of a plan of merger, such domestic stock company shall adhere to such provision in proposing or adopting a plan of division. If any provision of the articles of incorporation or bylaws of a domestic stock company is amended, such amendment shall thereafter apply to a division only in accordance with its express terms.  (Source: P.A. 100-1118, eff. 11-27-18.)
215 ILCS 5/35B-30
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IIB - Domestic Stock Company Division

Sec. 35B-30. Certificate of division.(a) After a plan of division has been adopted and approved, an officer or duly authorized representative of the dividing company shall sign a certificate of division.(b) The certificate of division shall set forth:(1) the name of the dividing company;(2) a statement disclosing whether the dividing     company will survive the division;(3) the name of each new company that will be created     by the division;(4) the kinds of insurance business enumerated in     Section 4 that the new company will be authorized to conduct;(5) the date that the division is to be effective,     which shall not be more than 90 days after the dividing company has filed the certificate of division with the recorder, with a concurrent copy to the Director;(6) a statement that the division was approved by the     Director in accordance with Section 35B-25;(6) a statement that the dividing company provided,     no later than 10 business days after the dividing company filed the plan of division with the Director, reasonable notice to each reinsurer that is party to a reinsurance contract that is applicable to the policies included in the plan of division;(7) if the dividing company will survive the     division, an amendment to its articles of incorporation or bylaws approved as part of the plan of division;(8) for each new company created by the division, its     articles of incorporation and bylaws, provided that the articles of incorporation and bylaws need not state the name or address of an incorporator; and(9) a reasonable description of the capital, surplus,     other assets and liabilities, including policy liabilities, of the dividing company that are to be allocated to each resulting company.(c) The articles of incorporation and bylaws of each new company must satisfy the requirements of the laws of this State, provided that the documents need not be signed or include a provision that need not be included in a restatement of the document.(d) A certificate of division is effective when filed with the recorder, with a concurrent copy to the Director, as provided in this Section or on another date specified in the plan of division, whichever is later, provided that a certificate of division shall become effective not more than 90 days after it is filed with the recorder. A division is effective when the relevant certificate of division is effective.  (Source: P.A. 100-1118, eff. 11-27-18.)
215 ILCS 5/35B-45
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IIB - Domestic Stock Company Division

Sec. 35B-45. Shareholder rights. If the dividing company does not survive the division, an objecting shareholder of a dividing company is entitled to appraisal rights and to obtain payment of the fair value of that shareholder's shares, in the same manner and to the extent provided for pursuant to Section 167.  (Source: P.A. 100-1118, eff. 11-27-18.)
215 ILCS 5/35B-50
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IIB - Domestic Stock Company Division

(215 ILCS 5/35B-50)Sec. 35B-50. Rules. The Director may adopt such rules as are necessary or appropriate to carry out this Article.  (Source: P.A. 100-1118, eff. 11-27-18.)
215 ILCS 5/Art. III heading
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

 ARTICLE III.      DOMESTIC MUTUAL COMPANIES (Article scheduled to be repealed on January 1, 2027)
215 ILCS 5/36
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

 (from Ch. 73, par. 648)(Section scheduled to be repealed on January 1, 2027)Sec. 36.     Scope of  Article.     This Article shall apply to all domestic mutual companies transacting or  being organized to transact any of the kinds of business enumerated in  Section 4.    (Source: Laws 1937, p. 696.)
215 ILCS 5/37
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

 (from Ch. 73, par. 649)(Section scheduled to be repealed on January 1, 2027)Sec. 37.     Name.         The corporate name of any company organized under this Article shall  contain the word "Mutual" and 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.)
215 ILCS 5/38
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

 (from Ch. 73, par. 650)(Section scheduled to be repealed on January 1, 2027)Sec. 38.     Principal  office and place of business.   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.)
215 ILCS 5/39
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

 (from Ch. 73, par. 651)(Section scheduled to be repealed on January 1, 2027)Sec. 39.     Authorized  kinds of business.(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.(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 health or welfare program; (d) 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 relative advantages to the company and its  policyholders of conducting such business directly instead of through a  subsidiary.    (Source: P.A. 77-673.)