reglab/housing_qa huggingface dataset:
215 ILCS 5/123C-14
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VIIC - Domestic Captive Insurance Companies

 (from Ch. 73, par. 735C-14)(Section scheduled to be repealed on January 1, 2027)Sec. 123C-14.     Rating organizations; memberships;  rate or policy filing.  No captive insurance company shall be required to join  a rating organization.  No captive insurance company  shall be required to file its premium rates or policy  forms with, or to seek approval of such rates or forms  from, the Director or any other authority of this State.    (Source: P.A. 85-131.)
215 ILCS 5/123C-15
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VIIC - Domestic Captive Insurance Companies

 (from Ch. 73, par. 735C-15)(Section scheduled to be repealed on January 1, 2027)Sec. 123C-15.     Exemption from compulsory associations.     No captive insurance company shall be permitted or  required to join or contribute financially to any plan,  pool, association, or guaranty or insolvency fund in  this State, nor shall any captive insurance company,  nor its insureds nor any claimants against the insureds,  nor its parent nor any affiliated company, nor any member  organization of its association, receive any benefit  from any such plan, pool, association, or guaranty or  insolvency fund for claims arising out of the operations  of such captive insurance company.  Each association  captive insurance company and each industrial insured  captive insurance company shall inform each insured,  in both the application for insurance and in the policy  issued to such insured, that (i) the captive insurance  company is not subject to all of the insurance laws  and regulations of this State, and (ii) state insurance  insolvency guaranty funds are not available to such  insured for claims arising out of the operations of  such captive insurance company.    (Source: P.A. 85-131.)
215 ILCS 5/123C-16
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VIIC - Domestic Captive Insurance Companies

 (from Ch. 73, par. 735C-16)(Section scheduled to be repealed on January 1, 2027)Sec. 123C-16. Tax.A. Every captive insurance company organized under  the provisions of this Article and doing business in  this State shall, for the privilege of doing business  in this State, pay to the Director for the State treasury  the State tax imposed under Section 409 to the same  extent and in the same manner as a domestic insurance company using a tax form prescribed by the Director on or before March 15 of each year.B.  Domestic captive insurance companies shall be insurance companies  subject to the rules now provided for such companies under the Illinois  Income Tax Act.C.  A domestic captive insurance company that has engaged one or more  administrative or management service organizations in order to comply with  subsection D of Section 123C-2 shall be deemed to meet the requirements of  Section 409(4)(a) through (d) provided that the company and such  organizations when viewed collectively as a group:(a) maintain a place of business in this State; and(b) maintain in this State personnel knowledgeable of     and responsible for the company's operations, books, records, administration and annual statement; and(c) conduct in this State substantially all of the     company's underwriting, policy issuing and servicing operations relating to the company's policyholders and certificate holders; and(d) comply with the provisions of  Section 133(2)     with respect to such domestic captive insurance company's books, records, documents, accounts, vouchers and securities. (Source: P.A. 100-1118, eff. 11-27-18.)
215 ILCS 5/123C-17
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VIIC - Domestic Captive Insurance Companies

 (from Ch. 73, par. 735C-17)(Section scheduled to be repealed on January 1, 2027)Sec. 123C-17. Fees.A. The Director shall charge, collect, and give proper  acquittances for the payment of the following fees and  charges with respect to a captive insurance company:1. For filing all documents submitted for the     incorporation or organization or certification of a captive insurance company, $2,000.2. For filing requests for approval of changes in the     elements of a plan of operations, $200.B. Except as otherwise provided in subsection A of this Section and in  Section 123C-10, the provisions of Section 408 shall  apply to captive insurance companies.C. Any funds collected from captive insurance companies  pursuant to this Section shall be treated in the manner  provided in subsection (11) of Section 408.  (Source: P.A. 100-1118, eff. 11-27-18.)
215 ILCS 5/123C-19
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VIIC - Domestic Captive Insurance Companies

 (from Ch. 73, par. 735C-19)(Section scheduled to be repealed on January 1, 2027)Sec. 123C-19. Letters of credit.A. Any letter of credit used to meet the requirements  set forth in Sections 123C-3 and 123C-4:(1) (blank);(2) may not be allowed to expire without the prior     written approval of the Director and shall provide for 30 days' advance written notice to the Director of the proposed expiration of the letter of credit; and(3) must be provided pursuant to arrangements,     acceptable to the Director, wherein all funds obtained by the company under the letter of credit are free of claims of any party which may arise on account of the company's resort to the letter of credit.B. If letters of credit are used to provide surplus  in excess of the amounts required in Section 123C-4:(1) the aggregate amount of all such letters of     credit shall not exceed the policyholder surplus of the company;(2) without the prior written approval of the     Director, no such letter of credit may be allowed to expire, in any period of 12 consecutive months ending on the date of such expiration, in an amount greater than the greater of (a) 10% of the company's surplus as regards policyholders as of the 31st day of December next preceding, or (b) the net income of the company for the 12 month period ending the 31st day of December next preceding.  For purposes of this Section, net income includes net realized capital gains in an amount not to exceed 20% of net unrealized capital gains; and(3) each such letter of credit shall provide for 30     days' advance written notice to the Director of the proposed expiration of the letter of credit.C. (Blank).D. (Blank).  (Source: P.A. 100-1118, eff. 11-27-18.)
215 ILCS 5/123C-20
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VIIC - Domestic Captive Insurance Companies

 (from Ch. 73, par. 735C-20)(Section scheduled to be repealed on January 1, 2027)Sec. 123C-20.     Laws applicable.     No provisions of this Code, other than  those contained in this Article or contained in specific references  contained in this Article, shall apply to domestic captive  insurance companies.    (Source: P.A. 85-131.)
215 ILCS 5/123C-21
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VIIC - Domestic Captive Insurance Companies

 (from Ch. 73, par. 735C-21)(Section scheduled to be repealed on January 1, 2027)Sec. 123C-21.     Severability.     If any clause, sentence, paragraph,  Section or part of this Article or the application thereof to any person or  circumstances, shall, for any reason, be adjudged by any court of competent  jurisdiction to be invalid, such judgment shall not affect, impair or  invalidate the remainder of this Article, and the application thereof to  other persons or circumstances, but shall be confined in its operation to  the clause, sentence, paragraph, Section or part thereof directly involved  in the controversy in which such judgment shall have been rendered and to  the person or circumstances involved.    (Source: P.A. 85-131.)
215 ILCS 5/123C-22
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VIIC - Domestic Captive Insurance Companies

 (from Ch. 73, par. 735C-22)(Section scheduled to be repealed on January 1, 2027)Sec. 123C-22.     Subordinated indebtedness.     A captive insurance company  organized under this Article may borrow or assume a liability for the  repayment of a sum of money upon a written agreement for the loan or  advance, with interest at a rate not exceeding the corporate base rate as  reported by the largest bank (measured by assets) with its head office  located in Chicago, Illinois, as in effect on the first business day of the  month, plus 3 percent per annum.  Such rate shall be fixed on the execution  of the loan and apply for the term of the loan.  Such loan and interest  thereon shall be repaid only out of surplus of the company in excess of such  minimum surplus as is stipulated in and by the agreement.  The agreement  shall first be submitted to and approved by (A) not less than a majority of  the Board of Directors of a stock company or a mutual  company, and (B) the Director.  Repayment of principal or payment of  interest may be made only with the approval of the Director when he is  satisfied that the financial condition of the company warrants such action.    No loan or advance made under this Section or interest accruing thereon  shall form a part of the legal liabilities of the company until authorized  for payment by the Director but, until such authorization, all statements  published by the company or filed with the Director shall show the amount  thereof then remaining unpaid as a special surplus or capital account at  the election of the company.  Such account shall be considered in  determining whether initial minimum capital and surplus requirements have  been met.  Nothing in this Section shall be construed to mean that a  company may not otherwise borrow money, but the amount so borrowed with  accrued interest thereon shall be carried by the company as a liability.    (Source: P.A. 86-632.)
215 ILCS 5/123C-23
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VIIC - Domestic Captive Insurance Companies

Sec. 123C-23. Approval of captive reinsurance pools.  Before determining whether to approve a captive insurance company's participation in a captive reinsurance pool under Section 123C-13 of this Code, the Director may:(1)  require the captive insurance company provide to     the Director evidence that the captive reinsurance pool:(a)    is composed only of other captive         insurance companies holding a certificate of authority under this Article or a similar law of another jurisdiction; and(b)    will be able to meet the pool's financial         obligations; and(2)  impose any other limitation or requirement on     the captive insurance company that is necessary and proper to provide adequate security for the captive insurance company. (Source: P.A. 100-1118, eff. 11-27-18.)
215 ILCS 5/123C-24
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VIIC - Domestic Captive Insurance Companies

Sec. 123C-24. Standards for risk management of controlled unaffiliated business.  The Director may adopt rules establishing standards to ensure that an affiliated company is able to exercise control of the risk management function of any controlled unaffiliated business to be insured by the captive insurance company.  (Source: P.A. 100-1118, eff. 11-27-18.)
215 ILCS 5/123C-25
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VIIC - Domestic Captive Insurance Companies

Sec. 123C-25. Captive managers.  Before providing captive management services to a licensed captive insurance company, a captive management company shall register with the Director by providing the information required on a form adopted by the Director.  (Source: P.A. 100-1118, eff. 11-27-18.)
215 ILCS 5/123C-26
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VIIC - Domestic Captive Insurance Companies

Sec. 123C-26. Dividends.A.   A captive insurance company shall notify the Director in writing when issuing policyholder dividends.B.    A captive insurance company, with the Director's approval, may issue dividends or distributions to the holders of an equity interest in the captive insurance company.  The Director shall adopt rules to implement this subsection B.  (Source: P.A. 100-1118, eff. 11-27-18.)
215 ILCS 5/123C-27
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VIIC - Domestic Captive Insurance Companies

Sec. 123C-27. Rulemaking authority.  The Director may adopt reasonable rules as necessary to implement the purposes and provisions of this Article.  (Source: P.A. 100-1118, eff. 11-27-18.)
215 ILCS 5/123C-28
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VIIC - Domestic Captive Insurance Companies

(215 ILCS 5/123C-28)Sec. 123C-28. Confidentiality.A.    Any information filed by an applicant or captive insurance company under this Article is confidential and privileged for all purposes, including for purposes of the Freedom of Information Act, a response to a subpoena, or evidence in a civil action.  Except as provided by subsections B and C of this Section, the information may not be disclosed without the prior written consent of the applicant or captive insurance company to which the information pertains.B.     If the recipient of the information described by subsection A of this Section has the legal authority to maintain the confidential or privileged status of the information and verifies that authority in writing, the Director or his or her designee may disclose the information to any of the following entities functioning in an official capacity:(1)    a director of insurance or an insurance     department of another state;(2)    an authorized law enforcement official;(3)    a State's Attorney of this State;(4)    the Attorney General;(5)    a grand jury;(6)    the National Association of Insurance     Commissioners if the captive insurance company is affiliated with an insurance company that is part of an insurance holding company system as described in Article VIII 1/2 of this Code;(7)    another state or federal regulator if the     applicant or captive insurance company to which the information relates operates in the entity's jurisdiction;(8)    an international insurance regulator or     analogous financial agency if the captive insurance company is affiliated with an insurance company that is part of an insurance holding company system as described in Article VIII 1/2 of this Code and the holding company system operates in the entity's jurisdiction; or(9)    members of a supervisory college described by     Section 131.20c of this Code, if the captive insurance company is affiliated with an insurance company that is part of an insurance holding company system as described in Article VIII 1/2 of this Code.C.    The Director may use information described by subsection A of this Section in the furtherance of a legal or regulatory action relating to the administration of this Code.  (Source: P.A. 100-1118, eff. 11-27-18.)
215 ILCS 5/Art. VIID heading
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VIID - Nonprofit Risk Organizations

          ARTICLE VIID. NONPROFIT RISK ORGANIZATIONS (Source: P.A. 93-918, eff. 1-1-05.)
215 ILCS 5/123D-1
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VIID - Nonprofit Risk Organizations

Sec. 123D-1. Purpose; construction. The purpose of this Article is to provide for the organization of and  issuance  of a certificate of authority to nonprofit risk organizations that insure  nonprofit  organizations and that will qualify, and continue to qualify, as a qualified  charitable risk  pool, as defined in subsection (n) of Section 501 of the Internal Revenue Code.        (Source: P.A. 93-918, eff. 1-1-05.)
215 ILCS 5/123D-5
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VIID - Nonprofit Risk Organizations

Sec. 123D-5. Definitions.  As used in this Article:"Member" means a nonprofit organization that participates as an insured in a nonprofit risk organization."Nonmember charitable organization" has the meaning set forth in  subsection (n) of Section 501 of the Internal Revenue Code."Nonprofit organizations" means organizations described in paragraph (3) of  subsection (c), and exempt from taxation under subsection (a), of Section 501  of the  Internal Revenue Code."Nonprofit risk organization" means a nonprofit company organized to do  business solely with nonprofit organizations as a qualified charitable risk  pool under  subsection (n) of Section 501 of the Internal Revenue Code that is organized in  accordance with this Article."Startup capital" has the meaning set forth in subsection (n) of  Section 501  of the Internal Revenue Code.               (Source: P.A. 93-918, eff. 1-1-05.)
215 ILCS 5/123D-10
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VIID - Nonprofit Risk Organizations

Sec. 123D-10. Organization of nonprofit risk organizations.(a) A company organized pursuant to Articles III or IV, including such  companies organized as a risk retention group in this State pursuant to Article  VIIB of  this Code, that satisfies the requirements of this Article may be organized as  a nonprofit  risk organization.(b) Notwithstanding any contrary provision in subsection A of Section 123B-3  of  this Code, a nonprofit risk organization may be organized as a reciprocal  insurance  company and qualify for organization under Article VIIB as a risk retention  group.(c) No nonprofit risk organization issued a certificate of authority  pursuant to this  Article shall be converted into a corporation or other entity organized for  pecuniary profit  or into a for-profit organization of any kind.               (Source: P.A. 93-918, eff. 1-1-05.)
215 ILCS 5/123D-15
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VIID - Nonprofit Risk Organizations

Sec. 123D-15. Conduct of insurance business by nonprofit risk  organizations.(a) The Director may, pursuant to this Article, issue a certificate of  authority to write the kinds of insurance enumerated in Classes 2 and 3 of Section 4 to a  nonprofit risk organization that is a company organized pursuant to Articles  III or IV,  including such companies organized as a risk retention group in this State  pursuant to  Article VIIB, if such organization:(1) complies with the applicable requirements of     Articles III or IV and VIIB, if organized as a risk retention group; and(2) has an initial paid-up capital and surplus at     least equal to the amount of applicable paid-up capital and surplus required by Articles III or IV for a newly organized company doing the same kind or kinds of insurance business.       Thereafter, every such nonprofit risk organization shall maintain capital and  surplus at  least equal to the amount of applicable capital and surplus required to be  maintained by  companies under Articles III or IV doing the same kind or kinds of  insurance  business.(b) Every certificate of authority to engage in an insurance business issued  by the  Director to any nonprofit risk organization pursuant to the provisions of this  Article shall  specify the company's name, the location of its principal office, the name and  principal  address of its attorney-in-fact, if any, and the kind or kinds of insurance  business that it  is authorized to engage in this State.               (Source: P.A. 93-918, eff. 1-1-05.)
215 ILCS 5/123D-20
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VIID - Nonprofit Risk Organizations

Sec. 123D-20. Relevant criteria.(a) A nonprofit risk  organization  must meet all of the following criteria:(1) Be organized and operated solely to insure risks     of its members.(2) Directly provide information to its members with     respect to loss control and risk management.(3) Be comprised solely of members.(4) Be organized under this Article.(5) Be exempt from Illinois income taxes with respect     to its activities or operations in furtherance of the powers conferred upon it by this Article.(6) Obtain at least $1,000,000 in startup capital     from nonmember charitable organizations. The startup capital may take the form of advancements or borrowings in the form permitted by Section 56 or 76 of this Code, as applicable. Startup capital may be used to satisfy the financial requirements contained in this Article applicable to a nonprofit risk organization only to the extent the Director determines that it complies with those requirements.(7) Be controlled by a board of directors elected by     its members.(8) Require in its organizational documents that:(A) each member of the nonprofit risk         organization shall at all times be an organization described in paragraph (3) of subsection (c) of Section 501 of the Internal Revenue Code and exempt from tax under subsection (a) of Section 501 of the Internal Revenue Code;(B) any member that receives a final         determination that it no longer qualifies as an organization described in paragraph (3) of subsection (c) of Section 501 of the Internal Revenue Code shall immediately notify the nonprofit risk organization of the determination and the effective date of the determination; and(C) each policy of insurance issued by the         nonprofit risk organization shall provide that the policy does not cover the insured with respect to events occurring after the date the final determination was issued to the insured.(b) An organization shall not cease to qualify as a     nonprofit risk organization solely by reason of the failure of any of its members to continue to be an organization described in paragraph (3) of subsection (c) of Section 501 of the Internal Revenue Code if, within a reasonable period of time after the nonprofit risk organization is notified as required under subparagraph (8)(B) of subsection (a) of this Section, the nonprofit risk organization takes such action as may be reasonably necessary to remove the member from the nonprofit risk organization.        (Source: P.A. 93-918, eff. 1-1-05.)
215 ILCS 5/123D-25
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VIID - Nonprofit Risk Organizations

Sec. 123D-25. Applicability of other provisions of this Code. Except as otherwise provided in this Article, where inconsistent with  this  Article, or where the context otherwise requires, all of the provisions of this  Code and the  rules of the Director relating to all insurers and those relating to a company  organized  pursuant to Articles III or IV or a risk retention group organized in this  State pursuant  to Article VIIB transacting the same kind or kinds of insurance shall be  applicable to a  nonprofit risk organization organized and issued a certificate of authority  pursuant to this  Article. Where any of such provisions of law refer to a corporation, company,  or insurer,  those references, when read in connection with and applicable to this Article,  shall mean  such a nonprofit risk organization.        (Source: P.A. 93-918, eff. 1-1-05.)