reglab/housing_qa huggingface dataset:
215 ILCS 5/294.1
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XVII - Fraternal Benefit Societies

 (from Ch. 73, par. 906.1)(Section scheduled to be repealed on January 1, 2027)Sec. 294.1. Reinsurance.(a) A domestic society may enter into reinsurance  transactions only in accordance with Article XI of this Code.(b)  A domestic society may reinsure the risks of another society in connection with a merger transaction with approval by the Director. (Source: P.A. 98-814, eff. 1-1-15.)
215 ILCS 5/295.1
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XVII - Fraternal Benefit Societies

 (from Ch. 73, par. 907.1)(Section scheduled to be repealed on January 1, 2027)Sec. 295.1.     Consolidations and mergers.     A domestic society may enter  into agreements of consolidation or merger only in  accordance with Article  X of this Code.    (Source: P.A. 84-303.)
215 ILCS 5/295.2
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XVII - Fraternal Benefit Societies

(Section scheduled to be repealed on January 1, 2027)Sec. 295.2. Maintenance of solvency.(a) In the event a domestic society has an authorized control level event described in Section 35A-25 of this Code under circumstances the Director determines will not be promptly remedied, the Director may, in addition to all other actions required or permitted by subsection (b) of Section 35A-25 of this Code, issue an order declaring the domestic society to be in hazardous condition and ordering that all steps be taken to remedy such condition pursuant to this Section.(b) A domestic society may negotiate an agreement to transfer  members, certificates, and other assets and liabilities of the society, in whole or in part, to another organization through merger, consolidation, assumption, or other means.  Such transfer shall be concluded within the timeframe established by the Director and subject to approval by the Director.  Such transfer agreement shall be deemed fully approved by the domestic society upon majority vote of its board of directors.  Such transfer shall be effective notwithstanding the provisions of Section 295.1 of this Code or any other law or regulation or laws of the domestic society requiring another form of notice to or approval by members, which shall be superseded by this Section.(c) In the event of an agreement to transfer under this Section to an organization without a certificate of authority in this State, the Director may grant a limited certificate of authority to such organization, upon request, if the organization does not apply for and obtain a certificate of authority to transact business in this State.  Such limited certificate of authority shall grant the organization authority to service the certificates following the transfer and fulfill all obligations owed to certificate holders but not to otherwise transact insurance business in this State.(d) The board of directors of a domestic society may suspend or modify its qualifications for membership as necessary or appropriate to facilitate an agreement to transfer under this Section, notwithstanding the laws of the society, or any other law or regulation to the contrary.  (Source: P.A. 98-814, eff. 1-1-15.)
215 ILCS 5/297.1
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XVII - Fraternal Benefit Societies

 (from Ch. 73, par. 909.1)(Section scheduled to be repealed on January 1, 2027)Sec. 297.1. Benefits.(a) A society may provide the following contractual  benefits in any form:(1) Death benefits;(2) Endowment benefits;(3) Annuity benefits;(4) Temporary or permanent disability benefits;(5) Hospital, medical or nursing benefits;(6) Monument or tombstone benefits to the memory of     deceased members; and(7) Such other benefits as authorized for life     insurers  and which are not inconsistent with this amendatory Act.(b) A society shall specify in its rules  those persons who may be  issued, or covered by, the contractual benefits in subsection (a),  consistent with providing benefits to members and their dependents.  A society may provide benefits on the lives of children under the minimum age  for adult membership upon application of an adult person.(c) After the effective date of this amendatory Act of the 98th General Assembly, a society shall provide an applicant for contractual benefits a disclosure statement that reads  substantially as follows:". . . . . . .(name of the society) is licensed to do     business in the State of Illinois as a fraternal benefit society. As such, it is not included in the Illinois Life and Health Guaranty Association (otherwise known as the Guaranty Association). This means that fraternal benefit societies cannot be assessed for the insolvency of other life insurers or other fraternal benefit societies. By law, a fraternal benefit society is responsible for its own solvency. If there is an impairment of reserves, a certificate holder may be assessed a proportionate share of the impairment. This process is described in the certificate issued by the society.".The statement must appear immediately above the applicant's signature on the society's membership application or certificate or policy application, in uppercase and bold type or boxed.   (Source: P.A. 98-814, eff. 1-1-15.)
215 ILCS 5/298.1
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XVII - Fraternal Benefit Societies

 (from Ch. 73, par. 910.1)(Section scheduled to be repealed on January 1, 2027)Sec. 298.1.     Beneficiaries.(a) The owner of a benefit  contract shall  have the right at all times to change the beneficiary or beneficiaries in  accordance with the laws or rules of the society unless the owner waives  this right by specifically requesting in writing that the beneficiary  designation be irrevocable. A society may, through its laws or rules, limit  the scope of beneficiary designations and shall provide that no revocable  beneficiary shall have or obtain any vested interest in the proceeds of any  certificate until the certificate has become due and payable in conformity  with the provisions of the benefit contract.(b) A society may make provision for the payment of funeral benefits to  the extent of such portion of any payment under a certificate as might  reasonably appear to be due to any person equitably entitled thereto by  reason of having incurred expense occasioned by the burial of the member,  provided the portion so paid shall not exceed the sum of $2000.(c) If, at the death of any person insured under a benefit contract,  there is no lawful beneficiary to whom the proceeds shall be payable, the  amount of such benefit, except to the extent that funeral  benefits may be  paid as hereinbefore provided, shall be payable to the personal  representative of the deceased insured, provided that if the owner of the  certificate is other than the insured, such proceeds shall be payable to such owner.    (Source: P.A. 84-303.)
215 ILCS 5/299.1a
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XVII - Fraternal Benefit Societies

 (from Ch. 73, par. 911.1a)(Section scheduled to be repealed on January 1, 2027)Sec. 299.1a. Benefits not attachable.(a) No money or other charity, relief  or aid to be paid, provided or rendered by any society shall be liable to  attachment, garnishment or other process or to be seized, taken,  appropriated or applied by any legal or equitable process or operation of  law to pay any debt or liability of a member or beneficiary, or any other  person who may have a right thereunder, either before or after payment by the  society.(b) Any benefit association doing  business in  this State and governed by this Article XVII shall encumber or surrender  accounts as defined in Section 10-24 of the Illinois Public Aid Code  held by the benefit  association owned by any responsible relative who is subject to a child  support lien,  upon notice of the lien or levy by the Department of Healthcare and Family Services (formerly Illinois Department of Public Aid)  or its successor agency pursuant to Section 10-25.5 of the Illinois Public Aid  Code, or upon notice of interstate lien from any other state's agency  responsible for implementing the child support enforcement program set forth in  Title IV, Part D of the Social Security Act.This Section shall not prohibit the furnishing of information in  accordance  with the federal  Personal Responsibility and Work Opportunity Reconciliation Act of 1996.  Any benefit association governed by this Article XVII shall enter into an  agreement for data  exchanges with the Department of Healthcare and Family Services                provided the Department of Healthcare and Family Services pays to the benefit association a reasonable fee not to exceed its  actual cost incurred.  A benefit association providing  information in accordance with this item shall not be liable to any account  holder or other person for any disclosure of information to a State agency, for  encumbering or surrendering any accounts as defined in Section 10-24 of the  Illinois Public Aid Code held by the benefit association  in response to a lien  or order to withhold and deliver issued by a State agency, or for any other  action taken pursuant to this item, including individual or mechanical errors,  provided the action does not constitute gross negligence or willful misconduct.  A benefit association shall have no obligation to hold, encumber, or  surrender accounts until  it has been served with a subpoena, summons, warrant, court or administrative  order, lien, or levy requiring that action.    (Source: P.A. 95-331, eff. 8-21-07.)
215 ILCS 5/299.1b
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XVII - Fraternal Benefit Societies

(Section scheduled to be repealed on January 1, 2027)Sec. 299.1b. Data exchanges;  administrative liens.(a) Any benefit  association doing business in the State and governed by  this Code shall enter into an agreement for data exchanges  with the Department of Healthcare and Family Services          for the purpose of locating accounts as defined in Section 10-24 of the  Illinois Public Aid Code of responsible relatives to  satisfy past-due child support owed by responsible  relatives under an order for support entered by a court or  administrative body of this or any other State on behalf  of resident or non-resident persons.(b) Notwithstanding any provisions in this Code to the  contrary, a benefit association  shall not be liable to any person:(1) for any disclosure of information to the     Department of Healthcare and Family Services (formerly Illinois Department of Public Aid) under subsection (a);(2) for encumbering or surrendering any accounts as     defined in Section 10-24 of the Illinois Public Aid Code held by such benefit association in response to a notice of lien or levy issued by the Department of Healthcare and Family Services (formerly Illinois Department of Public Aid), or by any other state's child support enforcement agency, as provided for in Section 299.1a of this Code; or(3) for any other action taken in good faith to     comply with the requirements of subsection (a).   (Source: P.A. 95-331, eff. 8-21-07.)
215 ILCS 5/301.1
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XVII - Fraternal Benefit Societies

 (from Ch. 73, par. 913.1)(Section scheduled to be repealed on January 1, 2027)Sec. 301.1.     Nonforfeiture benefits, cash surrender values, certificate  loans and other  options.(a) For certificates issued prior to one year  after the effective date of this amendatory Act, the value of every paid-up  nonforfeiture benefit and the amount of  any cash surrender value, loan or  other option granted shall comply with the provisions of law applicable  immediately prior to the effective date of this amendatory Act.(b) For certificates issued on or after one year from the effective date  of this amendatory Act for which reserves are computed on the Commissioner's  1941 Standard Ordinary Mortality Table, the Commissioner's 1941 Standard  Industrial Table, the Commissioner's 1958 Standard Ordinary Mortality  Table, the Commissioner's 1980 Standard Mortality Table or any more  recent table made  applicable to life insurers, every paid-up nonforfeiture  benefit and the amount of any cash surrender value, loan or other  option  granted shall not be less than the corresponding amount ascertained in  accordance with the laws of this State applicable to life insurers issuing  policies containing like benefits based upon such tables.    (Source: P.A. 84-303.)
215 ILCS 5/302.1
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XVII - Fraternal Benefit Societies

 (from Ch. 73, par. 914.1)(Section scheduled to be repealed on January 1, 2027)Sec. 302.1.     Investments and admitted assets.     A domestic society shall  invest its funds only in such investments as are authorized by the laws of  this State for the investment of assets of life insurers and subject to the  limitations  thereon. Any foreign or alien society permitted or seeking to  do business in this State which invests its funds in accordance with the  laws of the state, district, territory, country or province in which it is  incorporated shall be held to meet the requirements of this Section for  the investment of funds. Admitted assets in addition to investments  authorized by this Section and Article VIII and Article VIII 1/2 of this  Code shall be in accordance with Section 3.1 of this Code.    (Source: P.A. 84-303.)
215 ILCS 5/303.1
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XVII - Fraternal Benefit Societies

 (from Ch. 73, par. 915.1)(Section scheduled to be repealed on January 1, 2027)Sec. 303.1.     Funds.(a) All assets shall be held, invested and disbursed  for the use and benefit of the society, and no member or beneficiary shall  have or acquire individual rights therein or become entitled to any  apportionment on the surrender of any part thereof except as provided in  the benefit contract.(b) A society may create, maintain, invest, disburse and apply any  special fund or funds necessary to carry out any purpose permitted by the  laws of such society.(c) A society may, pursuant to resolution of its supreme governing body,  establish and operate one or more separate accounts and issue contracts on  a variable basis, subject to the provisions of Article XIV 1/2 of this  Code. To the extent the society deems it necessary in order to comply with  any applicable federal or State law, or any rules issued thereunder, the  society may adopt special procedures for the conduct of the business and  affairs of a separate account; may, for persons having beneficial interests  therein, provide special voting and other rights, including without  limitation special rights and procedures relating to investment policy,  investment advisory services, selection of certified public accountants  and selection of a committee to manage the business and affairs of the  account; and may issue contracts on a variable  basis to which subsection  300.1(b) and 300.1(d) of this amendatory Act shall not apply.    (Source: P.A. 84-303.)
215 ILCS 5/304.2
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XVII - Fraternal Benefit Societies

 (from Ch. 73, par. 916.2)(Section scheduled to be repealed on January 1, 2027)Sec. 304.2.     Taxation.     Every society organized or licensed under this  amendatory Act is hereby declared to be a charitable and benevolent institution,  and all of its funds shall be exempt from all and every State, county,  district, municipal and school tax other than taxes on real estate and office equipment.    (Source: P.A. 84-303.)
215 ILCS 5/305.1
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XVII - Fraternal Benefit Societies

 (from Ch. 73, par. 917.1)(Section scheduled to be repealed on January 1, 2027)Sec. 305.1.     Valuation.(a) Standards of valuation for certificates  issued prior to one year after the effective date of this amendatory Act shall be  those provided by the laws applicable immediately prior to the  effective  date of this amendatory Act.(b) The minimum standards of valuation for certificates issued on or  after one year from the effective date of this amendatory Act shall be based on  the following tables:(1) For certificates of life insurance - the     Commissioner's 1941 Standard Ordinary Mortality Table, the Commissioner's 1941 Standard Industrial Mortality Table, the Commissioner's 1958 Standard Ordinary Mortality Table, the Commissioner's 1980 Standard Ordinary Mortality Table or any more recent table made applicable to life insurers; and(2) For annuity and pure endowment certificates, for     total and permanent disability benefits, for accidental death benefits and for non-cancellable accident and health benefits - such tables as are  authorized for use by life insurers in this State.All of the above shall be under valuation methods and standards including,  but not limited to, interest assumptions in accordance  with the laws of  this State applicable  to life insurers issuing policies containing like benefits.(c) The Director may, in his or her discretion, accept other standards  for valuation if the Director finds that the reserves produced thereby will  not be less in the aggregate than reserves computed in accordance with the  minimum valuation standard herein prescribed. The Director may, in his or  her discretion, vary the standards of mortality applicable to all benefit  contracts on substandard lives or other extra-hazardous lives by any  society authorized to do business in this State.(d) Any society, with the consent of the Commissioner of Insurance of the  state of domicile of the society and under such conditions, if any, which  the Commissioner may impose, may establish and maintain reserves on its  certificates in excess of the  reserves required thereunder, but the  contractual rights of any benefit member shall not be affected thereby.    (Source: P.A. 84-303.)
215 ILCS 5/306.1
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XVII - Fraternal Benefit Societies

 (from Ch. 73, par. 918.1)(Section scheduled to be repealed on January 1, 2027)Sec. 306.1.     Reports.     Every society transacting business in this State  shall annually, on or before the first day of March, unless for cause shown  such time has been extended by the Director, file with the Director a true  statement of its financial  condition, transactions and affairs for the  preceding calendar year in accordance with Section 136 of this Code. The  statement shall be in general form and context as approved by the National  Association of Insurance Commissioners for fraternal benefit societies and  as supplemented by additional information required by the Director.    (Source: P.A. 84-303.)
215 ILCS 5/307.1
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XVII - Fraternal Benefit Societies

 (from Ch. 73, par. 919.1)(Section scheduled to be repealed on January 1, 2027)Sec. 307.1.     Annual license.     Societies which were authorized to transact  business in this State prior to the effective date of this amendatory Act may  continue  such business until the first day of July next succeeding the  effective date of this amendatory Act. The authority of such societies and all  societies hereafter issued certificates of authority may thereafter be  renewed annually, but in all cases to terminate on the first day of the  succeeding July. A certified copy or duplicate of such certificate of  authority shall be prima facie evidence that the licensee is a fraternal  benefit society within the meaning of this amendatory Act.    (Source: P.A. 84-303.)
215 ILCS 5/308.1
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XVII - Fraternal Benefit Societies

 (from Ch. 73, par. 920.1)(Section scheduled to be repealed on January 1, 2027)Sec. 308.1.     Examination of societies - adverse publications.(a) The  Director, or any person he or she may appoint, may examine any domestic,  foreign or alien society transacting or applying for admission to transact  business in this State in the same manner as authorized for examination of  domestic, foreign or alien insurance companies. Requirements of notice and  an opportunity to respond before findings are made public as provided in  the laws regulating insurance companies shall also be applicable to the  examination of societies.(b) The expense of each examination and  of each valuation, including  compensation and actual expense of examiners, shall be paid by the society  examined or whose certificates are valued, upon statements  furnished by the Director.    (Source: P.A. 84-303.)
215 ILCS 5/309.1
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XVII - Fraternal Benefit Societies

 (from Ch. 73, par. 921.1)(Section scheduled to be repealed on January 1, 2027)Sec. 309.1.     Foreign or alien society - admission.     No foreign or alien  society shall transact business in this State without a certificate of  authority issued by the Director in accordance with Article VI of this  Code. Any such society desiring admission to this State shall comply  substantially with  the requirements and limitations of this amendatory Act  applicable to domestic societies.    (Source: P.A. 84-303.)