reglab/housing_qa huggingface dataset:
215 ILCS 5/531.02
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIII 1/2 - Life and Health Insurance Guaranty Association

 (from Ch. 73, par. 1065.80-2)Sec. 531.02. Purpose. The purpose of this Article is to protect,  subject to certain limitations, the persons specified in paragraph (1) of  Section 531.03 against failure  in the performance of contractual obligations, under life, health, and annuity policies, plans, or contracts and health or medical care service  contracts specified in paragraph (2) of Section 531.03, due to the  impairment or insolvency of the  member insurer issuing such policies, plans, or contracts.  To provide this protection,  (1) an association of member insurers is created to enable the guaranty of payment  of benefits and of continuation of coverages, (2) members of the Association  are subject to assessment to provide funds to carry out the purpose of this  Article, and (3) the Association is authorized to assist the Director, in  the prescribed manner, in the detection and prevention of member insurer impairments  or insolvencies.  (Source: P.A. 100-687, eff. 8-3-18.)
215 ILCS 5/531.04
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIII 1/2 - Life and Health Insurance Guaranty Association

 (from Ch. 73, par. 1065.80-4)Sec. 531.04. Construction.   This Article shall be construed to  effect the purpose under Section 531.02.  (Source: P.A. 96-1450, eff. 8-20-10.)
215 ILCS 5/531.06
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIII 1/2 - Life and Health Insurance Guaranty Association

 (from Ch. 73, par. 1065.80-6)Sec. 531.06. Creation of the Association. There is created a  non-profit legal entity to be known as the Illinois Life and Health  Insurance Guaranty Association.  All member insurers are and must remain  members of the Association as a condition of their authority to transact  insurance or a health maintenance organization business in this State.  The Association must perform its functions under  the plan of operation established and approved under Section 531.10 and must  exercise its powers through a board of directors established under  Section 531.07.  For purposes of administration and assessment, the Association  must maintain 2 accounts:(1) The life insurance and annuity account, which     includes the following subaccounts:(a) Life Insurance Account;(b) Annuity account, which shall include annuity         contracts owned by a governmental retirement plan (or its trustee) established under Section 401, 403(b), or 457 of the United States Internal Revenue Code, but shall otherwise exclude unallocated annuities; and(c) Unallocated annuity account, which shall         exclude contracts owned by a governmental retirement benefit plan (or its trustee) established under Section 401, 403(b), or 457 of the United States Internal Revenue Code.(2) The health account.The Association shall be supervised by the Director  and is subject to the applicable provisions of the Illinois Insurance  Code. Meetings or records of the Association may be opened to the public upon majority vote of the board of directors of the Association.   (Source: P.A. 100-687, eff. 8-3-18.)
215 ILCS 5/531.07
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIII 1/2 - Life and Health Insurance Guaranty Association

 (from Ch. 73, par. 1065.80-7)Sec. 531.07. Board of Directors.)   The board of directors of the  Association consists of not less than 7 nor more than 11 members serving  terms as established in the plan of operation.  The insurer members of the board  are to be selected by member insurers subject to the approval of the  Director.  In addition, 2 persons who must be public representatives may be appointed by the Director to the board of directors. A public representative may not be an officer, director, or employee of an insurance company or a health maintenance organization or any person engaged in the business of insurance. Vacancies on the board must be filled for the remaining period  of the term in the manner described in the plan of operation.In approving selections or in appointing members to the board, the  Director must consider, whether all member insurers are  fairly represented.Members of the board may be reimbursed from the assets of the Association  for expenses incurred by them as members of the board of directors but  members of the board may not otherwise be compensated by the Association for  their services.  (Source: P.A. 100-687, eff. 8-3-18.)
215 ILCS 5/531.11
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIII 1/2 - Life and Health Insurance Guaranty Association

 (from Ch. 73, par. 1065.80-11)Sec. 531.11. Duties and powers of the Director. In addition to  the duties and powers enumerated elsewhere in this Article:(1) The Director must do all of the following:(a) Upon request of the board of directors,         provide the Association with a statement of the premiums in the appropriate accounts for each member insurer.(b) Notify the board of directors of the         existence of an impaired or insolvent insurer not later than 3 days after a determination of impairment or insolvency is made or when the Director receives notice of impairment or insolvency.(c) Give notice to an impaired insurer as         required by Sections 34 or 60.  Notice to the impaired insurer shall constitute notice to its shareholders, if any.(d) In any liquidation or rehabilitation         proceeding involving a domestic member insurer, be appointed as the liquidator or rehabilitator.  If a foreign or alien member insurer is subject to a liquidation proceeding in its domiciliary jurisdiction or state of entry, the Director shall be appointed conservator.(2) The Director may suspend or revoke, after notice     and hearing, the certificate of authority to transact business in this State of any member insurer which fails to pay an assessment when due or fails to comply with the plan of operation.  As an alternative the Director may levy a forfeiture on any member insurer which fails to pay an assessment when due.  Such forfeiture may not exceed 5% of the unpaid assessment per month, but no forfeiture may be less than $100 per month.(3) Any action of the board of directors or the     Association may be appealed to the Director by any member insurer or any other person adversely affected by such action if such appeal is taken within 30 days of the action being appealed.  Any final action or order of the Director is subject to judicial review in a court of competent jurisdiction.(4) The liquidator, rehabilitator, or conservator of     any impaired insurer may notify all interested persons of the effect of this Article. (Source: P.A. 100-687, eff. 8-3-18.)
215 ILCS 5/531.13
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIII 1/2 - Life and Health Insurance Guaranty Association

 (from Ch. 73, par. 1065.80-13)Sec. 531.13. Tax offset. In the event the aggregate Class A, B and C  assessments for all member insurers do not exceed $3,000,000 in any one  calendar year, no member insurer shall receive a tax offset.  However, for  any one calendar year before 1998 in which the  total of such assessments exceeds $3,000,000,  the amount in excess of $3,000,000 shall be subject to a tax offset to the  extent of 20% of the amount of such assessment for each of the 5  calendar  years following the year in which such assessment was paid, and ending prior  to January 1, 2003, and each member  insurer may offset the proportionate amount of such excess paid by the member insurer  against its liabilities for the tax imposed by subsections (a) and (b)  of Section 201 of the Illinois  Income Tax Act.  The provisions of this Section shall expire and be given no  effect for any tax period commencing on and after January 1, 2003.  (Source: P.A. 100-687, eff. 8-3-18.)
215 ILCS 5/531.15
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIII 1/2 - Life and Health Insurance Guaranty Association

 (from Ch. 73, par. 1065.80-15)Sec. 531.15.     Examination of the Association - Annual Report.     The  Association shall be subject to examination and regulation by the Director.  The board of directors must submit to the Director, not later than the  first day of the fifth month following the end of the Association's fiscal  year, a financial report for such fiscal year in a  form acceptable to the Director and a report of its  activities during such fiscal year.    (Source: P.A. 86-753.)
215 ILCS 5/531.16
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIII 1/2 - Life and Health Insurance Guaranty Association

 (from Ch. 73, par. 1065.80-16)Sec. 531.16.         Tax Exemptions.)  The Association is exempt from payment of  all fees and all taxes levied by this State or any of its subdivisions, except taxes  levied on real property.    (Source: P.A. 81-899.)
215 ILCS 5/531.17
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIII 1/2 - Life and Health Insurance Guaranty Association

 (from Ch. 73, par. 1065.80-17)Sec. 531.17.         Immunity.)  There is no liability on the part of and  no cause of action of any nature may arise against any member insurer or its agents  or employees, the Association or its agents or employees, members of the board of  directors, or the Director or his representatives, for any action taken by them  in the performance of their powers and duties under this Article.    (Source: P.A. 81-899.)
215 ILCS 5/531.18
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIII 1/2 - Life and Health Insurance Guaranty Association

 (from Ch. 73, par. 1065.80-18)Sec. 531.18. Stay of Proceedings - Reopening Default Judgments.)   All proceedings in which the insolvent insurer is a party in any court in this  State shall be stayed 180 days from the date an order of liquidation,  rehabilitation, or conservation is final to permit proper legal action by the  Association on any matters germane to its powers or duties.  As to a judgment under  any decision, order, verdict, or finding based on default the Association may apply  to have such judgment set aside by the same court that made such judgment and must  be permitted to defend against such suit on the merits.  (Source: P.A. 96-1450, eff. 8-20-10.)
215 ILCS 5/Art. XXXIV heading
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIV - Illinois Insurance Guaranty Fund

 ARTICLE XXXIV.      ILLINOIS INSURANCE GUARANTY FUND
215 ILCS 5/532
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIV - Illinois Insurance Guaranty Fund

 (from Ch. 73, par. 1065.82)Sec. 532. Purpose.(a) The purpose of this Article is to provide a mechanism  for the payment of covered claims under certain insurance policies, to  avoid excessive delay in payment of covered claims, to avoid financial loss to claimants or policyholders  because of the entry of an Order of Liquidation against an insolvent  company, including through services offered to the Director in her or his capacity as receiver under Article XIII of this Code that relate to covered claims, to provide a Fund to assess among member companies the costs of such protection and maintain the continuity and self-sufficient operation of the Fund, and to offset the costs associated with maintaining the Fund's continuity and self-sufficient operations when practical by providing assistance and services to the Director in her or his capacity as receiver under Article XIII of this Code as described in this Section.(b)   The purpose of this Article is also to provide a mechanism for the Fund to participate in and facilitate the process by which the assets of an insolvent company are marshaled and distributed pursuant to Article XIII of this Code beyond reimbursing the cost of covered claims. This subsection (b) is inoperative 5 years after the effective date of this amendatory Act of the 102nd General Assembly. (Source: P.A. 102-396, eff. 8-16-21.)
215 ILCS 5/533
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIV - Illinois Insurance Guaranty Fund

 (from Ch. 73, par. 1065.83)Sec. 533.     Scope.     This Article applies to all of the kinds of insurance  written on a direct basis which are included in Class 2 and  Class 3 of Section 4 of this Code as they appear and are defined in those  clauses as of January 1, 1985, except that  it shall not apply to:(a) accident and health insurance written under clause (a) of Class 2, or(b) mortgage guaranty or other financial guaranty written as  suretyship obligations or insurance under clause (g), clause (h)  or clause (i) of Class 2 or otherwise, or(c) fidelity or surety bonds, or any other bonding obligations other  than employee fidelity bonds, or(d) marine insurance other than inland marine insurance, written  under  clause (d) of Class 3, or(e) insurance of warranties or service contracts, including insurance that  provides for the  repair, replacement, or service of goods or property or indemnification for  repair, replacement, or service for the operational or structural failure of  the goods or property due to a defect in materials, workmanship, or normal wear  and tear or provides reimbursement for the liability incurred by the issuer of  agreements or service contracts that provide these benefits, or(f) any claim servicing agreement or insurance policy which contains a  retrospective rating or other premium adjustment agreement under which  premiums are substantially equal to the losses and loss expenses covered  under the policy or any policy providing retroactive insurance of known loss, or(g) any insurance which is provided, guaranteed or reinsured pursuant to  the Federal Crop Insurance Program or the National Flood Insurance Program,  including flood insurance written by National Flood Insurance Program  Write Your Own Companies.    (Source: P.A. 89-97, eff. 7-7-95.)
215 ILCS 5/534
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIV - Illinois Insurance Guaranty Fund

 (from Ch. 73, par. 1065.84)Sec. 534.     Definitions.     For the purposes of this Article, unless the  context requires otherwise, the words and phrases defined in Sections 534.1  through 534.8 have the meanings set forth in those Sections.    (Source: P.A. 85-576.)
215 ILCS 5/534.1
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIV - Illinois Insurance Guaranty Fund

 (from Ch. 73, par. 1065.84-1)Sec. 534.1.         "Fund" means the Illinois Insurance Guaranty Fund created by this  Article.    (Source: P.A. 77-305.)
215 ILCS 5/534.2
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIV - Illinois Insurance Guaranty Fund

 (from Ch. 73, par. 1065.84-2)Sec. 534.2.     "Director" means the Director of Insurance of the State of Illinois.     (Source: P.A. 77-305.)
215 ILCS 5/534.4
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIV - Illinois Insurance Guaranty Fund

 (from Ch. 73, par. 1065.84-4)Sec. 534.4.   "Insolvent company" means a company  organized as a stock company, mutual company, reciprocal or Lloyds (a)  which holds a certificate of authority to transact insurance  in this State either at the time the policy was issued or when  the insured event occurred, or any company which has assumed or has been allocated  such policy obligation through merger, division, consolidation, or  reinsurance, whether or not such assuming company held a  certificate of authority to transact insurance in this State  at the time such policy was issued or when the insured event occurred; and (b)  against which a final Order of Liquidation with a finding of  insolvency to which there is no further right of appeal has been entered by  a court of competent jurisdiction in the company's State of domicile after the  effective date of this Article.  (Source: P.A. 100-1190, eff. 4-5-19.)
215 ILCS 5/534.5
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIV - Illinois Insurance Guaranty Fund

 (from Ch. 73, par. 1065.84-5)Sec. 534.5.     Member company.     "Member Company" means any insurance  company organized as a  stock company, mutual company, reciprocal or Lloyds, which holds a certificate  of authority to transact  any kind of insurance in this State to  which this Article applies, and which is either:(a) a domestic insurance company formed before or after the  effective date of this Article; or(b) a foreign or alien insurance company.An insurance company shall cease to be a member company effective on the  day following the termination or expiration of its license to transact the  kinds of insurance to which this Article applies; provided, however, that the  insurance company shall remain liable as a member company for any and all  obligations, including obligations for assessments levied before the  termination or expiration of the insurance company's license and assessments  levied after the termination or expiration, based on any insolvency as to which  the determination of insolvency by a court of competent jurisdiction occurs  before the termination or expiration of the insurance company's license.    (Source: P.A. 89-97, eff. 7-7-95.)
215 ILCS 5/534.6
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIV - Illinois Insurance Guaranty Fund

 (from Ch. 73, par. 1065.84-6)Sec. 534.6.         "Net direct written premiums" means direct gross premiums  written in this State on insurance policies to which this Article applies, less return  premiums thereon and dividends paid or credited to policyholders on such  direct business. "Net direct written premiums" does not include premiums on  contracts of reinsurance or other contracts between insurers or reinsurers.    (Source: P.A. 85-576.)
215 ILCS 5/534.7
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIV - Illinois Insurance Guaranty Fund

 (from Ch. 73, par. 1065.84-7)Sec. 534.7.     Affiliate.     An "affiliate" of a specified person means a  person who directly, or indirectly  through one or more intermediaries, controls, is controlled by, or is under  common control with the specified person on  December 31 of the year next  preceding the date the insolvent company became an  insolvent company.    (Source: P.A. 89-97, eff. 7-7-95.)
215 ILCS 5/534.8
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIV - Illinois Insurance Guaranty Fund

 (from Ch. 73, par. 1065.84-8)Sec. 534.8.         "Control" means the possession, direct or indirect, of the  power to direct or cause the direction of the management and policies of a  person, whether through the ownership of voting securities, the holding of  proxies, by contract other than a commercial contract for goods or  nonmanagement services, or otherwise, unless the power is solely the result  of an official position with or corporate office held by the person.  Control shall be presumed to exist if any person, directly or indirectly,  owns, controls, holds with the power to vote, or holds proxies  representing, 10% or more of the voting securities or voting power of any  other person.  This presumption may be rebutted by a showing that control  does not exist in fact.    (Source: P.A. 85-576.)
215 ILCS 5/535
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIV - Illinois Insurance Guaranty Fund

 (from Ch. 73, par. 1065.85)Sec. 535.     Creation of the Fund.     There is created a nonprofit  unincorporated legal entity to be known as the Illinois Insurance  Guaranty Fund. All member companies as defined in Section 534.5 shall be and  remain members of the Fund as a condition of their authority to transact  business in this State. The Fund shall perform its functions under a  plan of operation established and approved under Section 539 and shall  exercise its powers through a board of directors established under  Section 536. For purposes of administration and assessment, the Fund  shall be divided into 2 separate accounts: (a) the automobile insurance  account; and (b) the account for all other insurance to which this  Article applies, including Workers' Compensation.    (Source: P.A. 85-576.)
215 ILCS 5/536
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIV - Illinois Insurance Guaranty Fund

 (from Ch. 73, par. 1065.86)Sec. 536. Board of Directors.(a) The board of directors of the Fund shall consist of not less than 5  nor more than 10 persons, with one public member appointed by the Director, serving terms as established in the plan of  operation. The public member shall be a resident of this State, and he or she shall either (1) be a licensed and certified public accountant under the laws of this State or (2) have earned, and maintain in good standing, the Chartered Property and Casualty Underwriter (CPCU) designation from the American Institute for Chartered Property Casualty Underwriters. The plan of operation shall provide that the board of directors  be elected on the basis of one vote for each member company of the Fund. If  more than one company of a group of wholly owned or controlled companies is a  member company of the Fund only one vote will be allowed for the entire  group. The members of the board of directors shall be elected by member companies  subject to the approval of the Director. Vacancies on the board of  directors shall be filled for the remaining period of the term by the board  of directors, subject to the approval of the  Director.(b) In approving elections to the board of directors, the Director shall consider  among other things whether all member companies are fairly represented.(c) Members of the board of directors shall receive no compensation, but may be  reimbursed from the assets of the Fund for expenses incurred by them as  members of the board of directors.  (Source: P.A. 98-202, eff. 1-1-14.)
215 ILCS 5/537
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIV - Illinois Insurance Guaranty Fund

 (from Ch. 73, par. 1065.87)Sec. 537.         Duties  and obligations of the Fund.  The Fund shall have the duties and obligations enumerated in Sections  537.1 through 537.9.    (Source: P.A. 82-210.)
215 ILCS 5/537.1
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIV - Illinois Insurance Guaranty Fund

 (from Ch. 73, par. 1065.87-1)Sec. 537.1.         The Fund may provide for an equal annual fee of all member  companies on a non-pro rata basis to provide for contingent expenses of the  Fund. This fee may not exceed $500 per member company for any one calendar year.    (Source: P.A. 85-576.)