215 ILCS 5/221.1
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XIII 1/2 - Uniform Provisions For Liquidation

 (from Ch. 73, par. 833.1)Sec. 221.1.     Definitions.For the purposes of Sections 221.1 to 221.10, both inclusive, the  following terms have the following meanings;(1) "Reciprocal State" means a state wherein:(a) it is provided by law that the insurance supervisory or other  administrative agency of the state shall conduct or wind up the affairs of  delinquent companies under judicial supervision and shall be vested with  title to all of the assets of any domestic company against which a  delinquency proceeding has been commenced, and(b) in substance and effect the provisions of Sections 221.1 to 221.10,  both inclusive are in force.(2) "Insurer" means any person, firm, corporation, association, or  aggregation of persons doing or proposing to do an insurance business and  subject to the insurance supervisory authority of, or to liquidation,  rehabilitation, reorganization or conservation by, the commissioner of  insurance or equivalent insurance supervisory official of the state.(3) "Delinquency proceeding" means any proceeding commenced against an  insurer for the purpose of liquidating, rehabilitating, reorganizing or  conserving such insurer.(4) "Domiciliary state" means the state in which an insurer is  incorporated or organized or, in the case of an insurer incorporated or  organized in a foreign country, the state in which such insurer, having  become authorized to do business in such state has, at the commencement of  delinquency proceedings the largest amount of its trusteed assets and  deposits for the benefit of its policy holder or policy holders and  creditors in the United States; and "domiciliary insurer" means an insurer  in its domiciliary state.(5) "Ancillary state" means any state other than a domiciliary state.(6) "General Assets" means all property, real or personal, not  specifically mortgaged, pledged, deposited as security or otherwise  encumbered, and as to such specifically encumbered property the term  includes all in excess of the amount necessary to discharge the sum or sums  secured.(7) "Preferred claim" means any claim with respect to which the law of a  state or of the United States accords priority of payment from the general  assets of the insurer.(8) "Special deposit claim" means any claims secured generally by a  deposit of a fund or property or bond which deposit has been made to secure  the payment of all claims of a particular description or all claims of  persons resident in a particular state. The term does not include claims  which are secured by deposit for the benefit or protection of all claimants  against the insurer in the United States.(9) "Secured claim" means any claim secured individually by mortgage,  trust, deed, pledge, deposit as security, escrow or otherwise. The term  also includes claims which prior to the commencement of delinquency  proceedings in the state of the insurer's domicile have become liens upon  specific assets by reason of judicial process.(10) "State" means any state or territory of the United States, and the  District of Columbia.(11) "Foreign country" means territory outside of any state, as defined.(12) "Receiver" means receiver, liquidator, rehabilitator or conservator  as the context may require.In addition to and notwithstanding any other provisions of law, this  Article shall apply to the administration by the Director of the affairs of  delinquent domestic companies with respect to matters affecting or related  to reciprocal states, and shall also apply to matters affecting or related  to this State in the administration by the Director of the affairs of  delinquent companies domiciled in reciprocal states and authorized to  transact business in this State.    (Source: Laws 1941, vol. 1, p. 832.)