215 ILCS 5/133
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IX - Provisions Applicable To All Companies

 (from Ch. 73, par. 745)Sec. 133.     Books, records, accounts and vouchers.(1) Every domestic company shall keep its books, records, documents,  accounts and vouchers in such manner that its financial condition,  affairs and operations can be  ascertained and so that its financial statements filed with the Director  can be readily verified and its compliance with the law determined and may  cause any or all such books, records, documents, accounts and vouchers to  be photographed or reproduced on film. Any such photographs,  microphotographs, optical imaging, or film reproductions of any original  books, records,  documents, accounts and vouchers shall for all purposes be considered the  same as the originals thereof and a transcript, exemplification or  certified copy of any such photograph, microphotograph, optical imaging, or  film reproduction  shall for all purposes be deemed to be a transcript, exemplification or  certified copy of the original. Any original so reproduced may thereafter  be disposed of or destroyed if provision is made for preserving and  examining such reproductions.(2) All such original books, records, documents, accounts and vouchers,  or such reproductions thereof, of the home office of any domestic company  or of any principal United States office of a foreign or alien company  located in this State shall be preserved and kept available in this State  for the purpose of examination and until authority to destroy or otherwise  dispose of such records is secured from the Director. Such original records  may, however, be kept and maintained outside this State if, according to a  plan adopted by the company's board of directors and approved by the  Director, it maintains suitable records in lieu thereof. Every domestic  company shall keep its securities within the State of Illinois except where:(a) on deposit with other states of the United States     of America, or political subdivision thereof; or(b) on deposit with foreign countries where the     company is licensed to transact an insurance business; or(c) where requisite for the normal transaction of the     company's business and approved by the Director.(3) Any domestic company may maintain with a corporation, qualified to  administer trusts in this State under the Corporate Fiduciary Act and that  has an  office in this State at which the account is maintained,  for its securities, a limited  agency, custodial or depository account, or other type of account for the  safekeeping of those securities, collecting the income from those securities  and providing supportive accounting services relating to such safekeeping  and collection, provided, the domestic company maintains full investment  discretion over those securities.  Such a corporation in safekeeping such  securities shall have all the powers, rights, duties and responsibilities  as it has for holding securities in its fiduciary accounts under the  Securities in Fiduciary Accounts Act.(4) Any director, officer, agent or employee of any company who destroys  any such books, records or documents without the authority of the Director  in violation of this section or who fails to keep the books, records,  documents, accounts and vouchers required by this section shall be guilty  of a business offense and shall be fined not more than $5000.00.    (Source: P.A. 88-364; 89-437, eff. 12-15-95.)