reglab/housing_qa huggingface dataset:
215 ILCS 5/41
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

 (from Ch. 73, par. 653)(Section scheduled to be repealed on January 1, 2027)Sec. 41.     Executive  committee.     If the by-laws so provide, the board of directors or trustees, by a  resolution adopted by a majority of the whole board, may designate three or  more of their number to constitute an executive committee, which committee  shall, to the extent provided in the resolution or in the by-laws, have and  exercise, during the interim between the meetings of the board, all of the  authority of the board in the management of the company, but the  designation of such committee shall not relieve the board or any member  thereof of any responsibility imposed by law.    (Source: Laws 1937, p. 696.)
215 ILCS 5/42
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

 (from Ch. 73, par. 654)(Section scheduled to be repealed on January 1, 2027)Sec. 42.     By-laws.(1) The incorporators shall adopt by-laws for the company which shall  not be altered, amended, or repealed prior to the issuance of a certificate  of authority to the company without the approval of the Director. The  by-laws shall provide that each policyholder of the company shall be a  member of the company and shall be entitled to one or more votes in person  or by proxy, based upon the amount of insurance in force, the number of  policies held or the amount of premium paid, as shall be stated in such  by-laws.(2) After a certificate of authority is issued to the company, the power  to make, alter, amend or repeal by-laws shall be vested in the board of  directors or trustees unless reserved to the members by the articles of  incorporation.(3) The by-laws of a mutual legal reserve life company shall provide for  a specific premium and that there shall be no assessment or contingent  liability on the part of the member.(4) The by-laws of a mutual company other than life shall provide(a) for a specific premium or premium deposit; and(b) except as provided in section 55, for a     contingent liability of each member in an amount not less than one nor more than ten times the specific premium or premium deposit stated in the policy.   (Source: Laws 1937, p. 696.)
215 ILCS 5/44
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

 (from Ch. 73, par. 656)(Section scheduled to be repealed on January 1, 2027)Sec. 44.     Articles of incorporation.     Any one or more natural persons, at least one of whom is a resident of  Illinois, who desire to form a company under this Article, shall sign and  acknowledge before an officer authorized to take acknowledgments articles  of incorporation in duplicate. The articles shall set forth(a) the corporate name;(b) the location of its principal office;(c) the period of duration, which may be perpetual;(d) the class or classes of insurance business, as     provided in Section 4, in which it proposes to engage, and the kinds of insurance in each class it proposes to write;(e) the name of the governing body of the company,     whether board of trustees or board of directors, and the number, the terms of office of and the manner of electing the members of the board; and(f) such other provisions not inconsistent with law     as may be deemed by the incorporators to be necessary or advisable.   (Source: P.A. 84-502.)
215 ILCS 5/45
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

 (from Ch. 73, par. 657)(Section scheduled to be repealed on January 1, 2027)Sec. 45.     Documents to be delivered to Director by incorporators.     Upon the execution of the articles of incorporation, there shall be  delivered to the Director(a) duplicate originals of the articles of     incorporation;(b) a copy of the by-laws adopted by the     incorporators;(c) 2 organization bonds, or the cash or securities,     provided for in Section 46;(d) the form of guaranty fund agreements and of     guaranty capital shares, if any, as provided in Section 56 to be issued in connection with solicitation of surplus; and(e) the form of escrow agreement for the deposit of     cash or securities.   (Source: P.A. 84-502.)
215 ILCS 5/45.1
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

 (from Ch. 73, par. 657.1)(Section scheduled to be repealed on January 1, 2027)Sec. 45.1.     Escrow agreements.     The company shall designate a bank or  trust company with whom it will enter into an escrow agreement, which  agreement shall state that the organization surplus shall be placed in  escrow and remain so, until an organization examination has been completed.  When the examination has been completed the escrow agent is authorized to  purchase securities for deposit as required by Section 53 and forward them  to the Director. The escrow agent is authorized to release the balance of  the escrowed funds to the company only upon notification that a Certificate  of Authority or similar documentation has been issued by the Director.    (Source: P.A. 84-502.)
215 ILCS 5/46
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

 (from Ch. 73, par. 658)(Section scheduled to be repealed on January 1, 2027)Sec. 46.     Organization bonds.         The incorporators shall deliver to the Director two bonds in the same  penalties and containing the same provisions, so far as applicable, as the  bonds required for the organization of a stock company by Section 16, for  the use and benefit of the State of Illinois and subscribers, members and  creditors, or in lieu of delivering such bonds, the incorporators may  deposit cash or securities of the same kind and amount on the same terms  and conditions, so far as applicable, as provided by said Section.    (Source: Laws 1937, p. 696.)
215 ILCS 5/47
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

 (from Ch. 73, par. 659)(Section scheduled to be repealed on January 1, 2027)Sec. 47.     Publication  of intention.(1) Upon compliance with the provisions of Section 45, the  incorporators shall cause to be published in a newspaper of general  circulation in this State, in the county where the principal office of the  company is to be located, once each week for three consecutive weeks, a  notice setting forth(a) their intent to form the company and the proposed     name thereof;(b) the class or classes of insurance business in     which the company proposes to engage; and(c) the address where its principal office shall be     located.(2) Proof of such publication made by a certificate of the publisher or  his agent shall be delivered to the Director.    (Source: Laws 1937, p. 696.)
215 ILCS 5/48
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

 (from Ch. 73, par. 660)(Section scheduled to be repealed on January 1, 2027)Sec. 48.     Approval of  documents.   The documents and papers so delivered to the Director may be approved or  disapproved by the Director and the incorporators are entitled to a hearing  in the same manner as provided in Section 18 in the case of documents  delivered for approval in connection with the organization of stock  companies. If the documents and papers so delivered are approved by the  Director, the Director must file in his office the bylaws, bond or securities  and one of the duplicate  originals of the articles of incorporation, and endorse upon the other  duplicate original his approval and the month, day and year of approval and  deliver it to the incorporators. The company is deemed to be fully  organized on the date of the approval of the articles of incorporation by  the Director, and that date is the date of incorporation of the company.    (Source: P.A. 82-498.)
215 ILCS 5/49
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

 (from Ch. 73, par. 661)(Section scheduled to be repealed on January 1, 2027)Sec. 49.     Recording  of 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  delivered to the company, in the office of the recorder of the  county where the principal office of the company is to be located.    (Source: P.A. 83-358.)
215 ILCS 5/50
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

 (from Ch. 73, par. 662)(Section scheduled to be repealed on January 1, 2027)Sec. 50.     Authority  to solicit subscriptions to surplus.(1) Upon the approval of the articles of incorporation by the Director  he shall issue to the company a permit which shall expire at the end of two  years from its date, authorizing it to solicit subscriptions to surplus in  accordance with this Code and to do such other acts as may be necessary and  proper in order to complete its organization and to entitle it to receive a  certificate of authority to transact an insurance business.(2) If the Director finds that any company in process of organization  has failed to comply with, or has violated any provision of the Code, he  may proceed against the company under Article XIII, and may after notice  and hearing revoke the permit issued to it under subsection (1) of this  Section.    (Source: Laws 1951, p. 1565.)
215 ILCS 5/51
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

 (from Ch. 73, par. 663)(Section scheduled to be repealed on January 1, 2027)Sec. 51.     Issuance of  certificate of authority.     When the Director has been notified that the company has the required  surplus as set forth in Section 43 of this Article as now and hereafter  amended, he shall conduct an examination of the company. If he finds that  the organization is complete and that all of the requirements of this Code  have been met he shall issue to such company a certificate of authority to  transact the kind or kinds of business specified therein. No company shall  transact any business of insurance in this State until it shall have  received such certificate of authority as herein prescribed nor any  business of insurance not specified in such certificate of authority.    (Source: Laws 1967, p. 1808.)
215 ILCS 5/52
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

 (from Ch. 73, par. 664)(Section scheduled to be repealed on January 1, 2027)Sec. 52.     Voluntary  surrender of articles of incorporation.     At any time prior to the issuance of the certificate of authority to the  company the articles of incorporation may be voluntarily surrendered and  the company dissolved by written agreement filed with the Director, signed  by a majority of the incorporators. Such surrender and dissolution shall  become effective only upon the approval thereof by the Director. The  Director shall approve the surrender of such articles of incorporation if  upon investigation he shall find that(a) no insurance business has been transacted by the     company;(b) all sums of money or securities, if any,     collected upon applications or subscriptions, have been returned to the applicants or subscribers; and(c) all obligations of the company have been paid or     discharged.   (Source: Laws 1937, p. 696.)
215 ILCS 5/54
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

 (from Ch. 73, par. 666)(Section scheduled to be repealed on January 1, 2027)Sec. 54.     Dividends.(1) The board of directors or trustees of any company subject to the  provisions of this Article doing the kind or kinds of insurance business  described in Class 1 of Section 4 may declare dividends to its members.(2) The board of directors or trustees of any company subject to the  provisions of this article doing any of the kind or kinds of business  described in Classes 2 and 3 of Section 4 may from time to time fix and  determine the amount of dividends or of unabsorbed or unused premiums or  premium deposits to be returned to each policyholder, and may for such  purpose establish reasonable classifications or groupings of policyholders  and plans for the distribution of such refunds upon each general kind of  insurance or groups or classes thereof and may establish reasonable  territorial divisions upon policies expiring during a fixed period, after  retaining sufficient funds for the payment by the company of all  outstanding policy and other obligations.(3) The declaration and payment of dividends by any company subject to  the provisions of this Article shall be subject to the following  conditions:(a) No dividend shall be declared or paid at any time     except out of earned, as distinguished from contributed, surplus, nor when the surplus of the company is less than the surplus required in section 43 for the kind or kinds of insurance the company is authorized to write, nor when the payment of such dividend will reduce its surplus to less than such amount.(b) No dividend shall be declared or paid contrary to     any restriction contained in the articles of incorporation.   (Source: P.A. 86-753.)
215 ILCS 5/55
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

 (from Ch. 73, par. 667)(Section scheduled to be repealed on January 1, 2027)Sec. 55.     Contingent  liability policy provisions.   In cases where contingent liability of members is provided for, the  provision therefor shall be plainly stated in each policy with prominence  equal to the indemnifying clause. In addition, each such assessable policy,  other than an accident or health policy, issued or delivered in this State  insuring against the hazards included in Class 2, subparagraph (b) of  Section 4 after September 1, 1967 must have the following statement printed  in bold face on the face of the policy: "This is an assessable policy". If  a mutual company other than life has a surplus equal to the capital  and surplus required in Section 13, for a stock company transacting the  same kind or kinds of business, such company may issue policies without  contingent liability. Any such mutual company which shall have issued  policies without contingent liability after the acquisition of such surplus  may continue to do so as long as it maintains a surplus equal to the  capital and surplus of a stock company doing the same kind or kinds  of business, but no company may issue such policies except during such time  as it shall continue to have such a surplus, but any company which is,  immediately prior to July 1, 1965, issuing policies without contingent  liability, may continue to do so as long as it maintains a surplus equal in  amount to that which would have been required immediately prior to July 1,  1965. After July 18, 1967, no company subject to this Article may make,  levy or impose upon its members any assessment based on their contingent  liability unless ordered to do so by the Director under Section 60 of this Code.    (Source: P.A. 86-753.)
215 ILCS 5/57
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

 (from Ch. 73, par. 669)(Section scheduled to be repealed on January 1, 2027)Sec. 57.     Amendment of articles of incorporation.(1) A company subject to the provisions of this Article may amend its  articles of incorporation in any respect not in violation of law, but may  not amend such articles to insert any provision prohibited, or to delete  any provision required, in original articles of incorporation for a similar  domestic company organized under this Code except as otherwise provided in  Section 59.1 or 59.2 of this Code.(2) Amendments to the articles of incorporation for the various classes  of companies shall be made in the following manner:(a) Class 1. The board of directors or trustees shall     adopt a resolution setting forth the proposed amendment and directing that it be submitted to a vote of the policyholders at either an annual or special meeting. Written or printed notice shall be given to policyholders in the same manner as is required in the case of notices to shareholders of stock companies by Section 29. The proposed amendment shall be adopted upon receiving the affirmative vote of 2/3 of the policyholders present in person or by proxy at such meeting. Restated articles of incorporation setting forth the articles of incorporation as amended shall thereupon be executed in duplicate by the company or its president or vice president, and its secretary or assistant secretary, and duplicate originals of such restated articles of incorporation and an affidavit of the secretary of the company setting forth the facts to show that this section has been fully complied with shall be delivered to the Director.(b) Classes 2 and 3. The board of directors or     trustees shall adopt the amendment and deliver to the Director duplicate original restated articles of incorporation setting forth the articles of incorporation as amended and a copy of the resolution of the board of directors or trustees adopting such an amendment certified to by the secretary of the company.(3) The restated articles of incorporation of any company subject to the  provisions of this article so delivered to the Director may be approved or  disapproved by the Director in the same manner as the original articles of  incorporation. If approved, the Director shall place on file in his office all  of the documents so delivered to him except one of the duplicate originals of  the restated articles of incorporation, and shall endorse upon such duplicate  original his approval thereof and the month, day and year of such approval, and  deliver it to the company. The amendment shall be effective as of the date of  the approval thereof by the Director. Such duplicate original shall be filed  for record, within 15 days after it has been delivered to the company, in the  office of the recorder of the county where the principal office of the company  is located.    (Source: P.A. 90-810, eff. 1-6-99.)
215 ILCS 5/58
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

 (from Ch. 73, par. 670)(Section scheduled to be repealed on January 1, 2027)Sec. 58.     Governmental agencies and corporations may be members.         Any government or governmental agency, state or political subdivision  thereof, public or private corporation, board, association, estate, trustee  or fiduciary in this State or elsewhere, may make application, enter into  agreements for and hold policies or contracts in or with, and be a member  of, any domestic, foreign or alien mutual company subject to the provisions  of this Code. Any officer, representative, trustee, receiver or legal  representative of any such member or policyholder, shall be recognized as  acting for or on its behalf for the purpose of such contract or membership,  but shall not be personally liable upon such contract by reason of acting  in such representative capacity.    (Source: Laws 1937, p. 696.)
215 ILCS 5/59
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

 (from Ch. 73, par. 671)(Section scheduled to be repealed on January 1, 2027)Sec. 59.     Reinsurance  agreements.     Unless the contract provides otherwise any reinsurance agreement  effected by any company subject to the provisions of this Article upon the  whole or any part of any risk shall be without contingent liability or  participation or membership.    (Source: Laws 1937, p. 696.)
215 ILCS 5/60
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III - Domestic Mutual Companies

(215 ILCS 5/60) (from Ch. 73, par. 672)(Section scheduled to be repealed on January 1, 2027)Sec. 60.     Procedure  when insufficient assets are possessed by company.(1) Whenever the Director finds that the admitted assets of a company  subject to the provisions of this Article are less than the aggregate of  (a) its liabilities and (b) the minimum surplus required to be maintained  by Section 43, he must notify the company in writing of the amount of such  impairment and require that such impairment must be removed within such  period, which shall not be less than 30 nor more than 90 days, as he may  designate. Unless otherwise allowed by the Director, the company must  discontinue the issuance of new or renewal  policies while such impairment exists. If the contracts issued by the  company contain a provision for a contingent liability, the Director may  order the board of directors or trustees of the company to levy an  assessment for the purpose of removing such impairment against each member  in accordance with the terms of his policy. If the Director finds that the  company will remove the impairment or a part thereof from sources other  than an assessment, he may permit a reduction in the amount of the  assessment to the extent of the sum so to be obtained. No member is liable  for an assessment unless notified of the company's claim therefor within  one year after the termination of the policy whether by expiration,  cancellation or otherwise. Nothing contained in this paragraph may be  construed to limit or restrict the authority of any liquidator, conservator  or rehabilitator acting under Article XIII or XIII 1/2 of this Act.(2) If policies containing provisions for a contingent liability are  outstanding, and the company fails to levy an assessment within 20 days  from the date of an order, or if the impairment is not removed within the  period specified in the Director's notice, the company shall be deemed  insolvent and the Director may cancel the company's certificate of  authority and shall proceed against it in accordance with Article XIII.(3) If, while the impairment exists, any officer, director, or trustee  of the company renews, issues or delivers or causes to be renewed, issued  or delivered any policy, contract or certificate of insurance unless otherwise  allowed by the Director, and the fact  of such impairment is known to the officer, director, or trustee of the  company, such officer, director, or trustee shall be guilty of a business  offense and may be fined not less than $200 and not more than $5,000 for  each offense.(4) Nothing in this Section prohibits, while such impairment exists, any  such officer, director, trustee, agent or employee from issuing or renewing  a policy of insurance when an insured or owner exercises an option granted  to him under an existing policy to obtain new, renewed or converted  insurance coverage.    (Source: P.A. 82-498.)
215 ILCS 5/Art. III.5 heading
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III 1/2 - Alien Companies

 ARTICLE III 1/2.      ALIEN COMPANIES