reglab/housing_qa huggingface dataset:
215 ILCS 5/107a.07
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article V 3/4 - Group Workers' Compensation; Pools; Pooling; Insolvency Fund

Sec. 107a.07.   Standards for issuing and maintaining pool certificates of  authority.(a) The Department shall consider  the following in  evaluating the financial strength of the pool:(1) The number of employees covered by the pool.(2) The particular industries in which the     participants are engaged.(3) The combined net worth of pool participants.(4) Any excess insurance purchased from authorized     insurers.(5) The gross annual payroll of members, which must     be at least $10,000,000 for active pools not in runoff.(b) The pool administrator must either contract with a licensed service  company or have  sufficient resources, such as those set forth in item (3) of subsection (b) of  Section 107a.06, to  administer the proposed pool.(c) The Department must determine whether the pool can ensure that  individual pool  members are in compliance with Section 107a.08.  (Source: P.A. 96-965, eff. 7-2-10.)
215 ILCS 5/107a.08
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article V 3/4 - Group Workers' Compensation; Pools; Pooling; Insolvency Fund

Sec. 107a.08.     Provisions applicable to members of a group workers'  compensation pool.(a) All members of a group workers' compensation pool must have homogeneous  risk  characteristics as provided in Section 107a.03.(b) In determining whether members exhibit homogeneous risk characteristics,  the Director  shall consider any or all of the following characteristics:(1) The loss frequency inherent in the occupational     framework of group members.(2) The loss severity inherent in the occupational     framework of group members.(3) The occupational disease potential inherent in     the occupational framework of group members.(4) The occupational tasks of member employees.(5) Any other relevant fact the group members present     to the Director that has reference to the classification of similar risks (e.g. SIC codes).(c) Eligibility as a pool participant shall be based upon having a minimum  of:(1) 20 employees and $250,000 gross annual payroll; or(2) 10 employees and $125,000 gross annual payroll     for participants who have engaged actively in business for a minimum of 3 years; or(3) 5 employees and $62,500 gross annual payroll for     participants who have actively engaged in business for a minimum of 5 years.(d) Exceptions to the minimum eligibility requirements of this Section may  be  allowed by any pool whenever the following conditions are met:(1) the participant has been actively engaged in     business for a minimum period of 5 consecutive years in Illinois; and(2) the participant agrees to make all of its     financial records available to the Director for reasonable inspection during the period of membership; and(3) the pool administrator certifies to the Director     that he examined the financial records of the pool participant prior to the participant's admission to the pool and found the participant to be solvent and financially stable.   (Source: P.A. 91-757, eff. 1-1-01.)
215 ILCS 5/107a.09
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article V 3/4 - Group Workers' Compensation; Pools; Pooling; Insolvency Fund

Sec. 107a.09.     Service companies for group workers' compensation pools.(a) No association, corporation, partnership, sole proprietorship, trust, or  other business  entity shall provide services in the design, establishment, or administration  of a group workers'  compensation pool unless it is licensed to do so by the Department. An  applicant for  a license shall  state in writing the type of activities it seeks authorization to engage in and  the type of services it  seeks authorization to provide. The license shall be granted only when the  Director is satisfied that  the entity possesses the necessary organization, background, character,  expertise, and  financial integrity to  supply the services sought to be offered. The Department may issue a license  subject to restrictions  or limitations, including restrictions or limitations on the type of services  that may  be supplied or  the activities in which the entity may engage. A license issued under this  Section shall be valid for  2 years.(b) To assure that administrators are financially solvent, that pools are  administered in a fair  and capable fashion, and that administrators are able to process claims and pay  benefits in a prompt,  fair, and equitable manner, entities licensed to engage in those activities  under this Section are  subject to supervision and examination by the Department.(c) The Department may adopt rules for the purposes of this Article. The  rules shall (i)  establish reporting requirements for administrators for group workers'  compensation pools,  including experience  reporting requirements consistent with those established under this Code for  insurers; (ii) establish  bonding requirements or other provisions assuring the financial integrity of  entities administering  group self-insurance; and (iii) establish other reasonable requirements to  further the purposes of this  Article.    (Source: P.A. 91-757, eff. 1-1-01.)
215 ILCS 5/107a.10
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article V 3/4 - Group Workers' Compensation; Pools; Pooling; Insolvency Fund

Sec. 107a.10.     Bond requirements.(a) An administrator shall obtain and maintain in force fidelity bonds on  employees, officers,  or positions in an amount not less than the amount set forth in the column  "Minimum Amount of  Bond", based on the amount of assets administered on behalf of pools by the  administrator (as  determined from year to year) stated in the annual statement of the  pools as filed with the  Department. All such bonds shall be written with at least a one-year discovery  period and, if written  with less than a 3-year discovery period, shall contain a provision that no  cancellation or termination  of the bond, whether by or at the request of the insured or by the underwriter,  shall take effect before  the expiration of 90 days after written notice of the cancellation or  termination has been filed with  the Department unless an earlier date of cancellation or termination is  approved by the Department.(b) The bonds shall include all employees, officers, or positions for the  following perils,  which may be covered under separate policies:(1) dishonesty of employees and officers;(2) robbery, burglary, larceny, theft, false     pretense, hold-up, misplacement, mysterious disappearance, and damage or destruction while property is in any bank, any recognized place of safe deposit, or in transit; and(3) forgery or alteration.(c) The bond shall be written by an insurer licensed to transact business in  the State of  Illinois.(d) Schedule of assets in relationship to amount of bond:      TOTAL ASSETS MINIMUM AMOUNT OF BOND   $500,000 or less.......... $20,000 plus 6% of total    assets     more than $ 500,000 and   not more than $1,000,000..... $50,000 plus 4% of assets    over $500,000     more than $1,000,000 and   not more than $3,000,000..... $70,000 plus 3% of assets    over $1,000,000     more than $3,000,000 and   not more than $5,000,000..... $130,000 plus 2% of assets    over $3,000,000     more than $5,000,000 and   not more than $10,000,000..... $170,000 plus 1.5% of assets    over $5,000,000   more than $10,000,000....... $245,000 plus 0.75% of assets    more than $10,000,000     (Source: P.A. 91-757, eff. 1-1-01.)
215 ILCS 5/107a.12
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article V 3/4 - Group Workers' Compensation; Pools; Pooling; Insolvency Fund

Sec. 107a.12. Annual statement.(a) A pool authorized to do business in this State shall file with the  Director by March  1st in each year 2 copies of its financial statement for the year ending  December 31st  immediately preceding on forms prescribed by the Director, which shall conform  substantially to  the form of statement adopted by the National Association of Insurance  Commissioners.  Unless  the  Director provides otherwise, the annual statement is to be prepared in  accordance with the  annual statement instructions and the Accounting Practices and Procedures  Manual adopted by  the National Association of Insurance Commissioners.  The Director may  promulgate rules for  determining which portions of the annual statement instructions and Accounting  Practices and  Procedures Manual adopted by the National Association of Insurance  Commissioners are  germane for the purpose of  ascertaining the condition and affairs of a pool.(b) The Director shall have authority to extend the time for filing any  statement by any  pool for reasons that he considers good and sufficient. The admitted assets  shall be shown in the  statement at the actual values as of the last day of the preceding year, in  accordance with Section  126.7 of this Code. The statement shall be verified by oaths of a majority of  the trustees  or directors of the  pool.  In addition, when the Director considers it to be necessary and  appropriate for the  protection of policyholders, creditors, shareholders, or claimants, the  Director may require the  pool to file, within 60 days after mailing to the pool a notice that a  supplemental summary  statement is required, a supplemental summary statement, as of the last day of  any calendar  month occurring during the 100 days next preceding the mailing of the notice,  designated by him  or her on forms prescribed and furnished by the Director. The Director may  require supplemental  summary statements to be certified by an independent actuary deemed competent  by the Director  or by an independent certified public accountant.(c) On or before June 1 of each year, a pool shall file with the Director an  audited financial  statement reporting the financial condition of the pool as of the end of the  most recent calendar year  and changes in the surplus funds for the year then ending. The annual audited  financial report shall  include the following:(1) a report of an independent certified public     accountant;(2) a balance sheet reporting assets, as defined in     this Article, liabilities, and surplus funds;(3) a statement of gain and loss from operations;(4) a statement of changes in financial position;(5) a statement of changes in surplus funds; and(6) the notes to financial statements.(d) The Director shall require a pool to file an independent actuarial  opinion  as to the  sufficiency of the loss and loss adjustment expense reserves. This opinion  shall be due on March 1 of  each year.  (Source: P.A. 102-135, eff. 1-1-22.)
215 ILCS 5/107a.14
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article V 3/4 - Group Workers' Compensation; Pools; Pooling; Insolvency Fund

Sec. 107a.14.     Group workers' compensation pools assessment provisions.(a) When the Director determines by means of audit, annual certified  statement, actuarial  opinion, or otherwise that the assets possessed by a pool are less than the  reserves required together  with any other unpaid liabilities, he or she shall order the pool trustees  to assess the individual  pool participants in an amount not less than necessary to correct the  deficiency. This Section is not  intended to restrict or preclude the trustees from time to time levying  assessments or increasing  premium deposits in accordance with the pooling agreement.(b) When the Director determines that the compensation and medical services  provided  pursuant to this Article may be unpaid by reason of the default of an insolvent  qualified group workers'  compensation pool and the penal sum of the fidelity bond and the securities  provided by the qualified group  workers' compensation pool are about to become exhausted, the Director  shall  declare the qualified group  workers' compensation pool to be in default and first levy upon and collect  from the individual  employer members of the qualified group workers' compensation pool in default  an  assessment to assure  prompt payment of compensation and medical services. No assessment of any  individual employer  member of the qualified group workers' compensation pool made pursuant to this  subsection  shall exceed  25% of the average annual contribution paid by that employer over the previous  3-year period;  however, if the Group Workers' Compensation Pool Insolvency Fund is then for  any reason  financially unable to assure prompt payment of compensation and medical  services, the employer  member may be assessed without limitation. If and only if (i) the Group  Workers' Compensation  Pool Insolvency Fund has a positive balance of less than $1,000,000, (ii) the  Director has declared  a qualified group workers' compensation pool to be in default, and (iii) the  Group Workers' Compensation  Pool Insolvency Fund is financially unable to pay all employees whose  compensation and medical  services have been approved, the Director  shall levy upon and collect from all  qualified group workers'  compensation pools an assessment to provide the balance necessary to assure  prompt payment of  approved compensation and medical services. If an insurance carrier  becomes liable for  workers' compensation and occupational diseases payments under the terms of the  policy covering  the qualified group workers' compensation pool, the carrier shall make  appropriate payments and  payments from the Fund shall cease.  Payments from the Fund shall resume only  when the  insurance carrier's liability is exhausted.    (Source: P.A. 91-757, eff. 1-1-01.)
215 ILCS 5/107a.15
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article V 3/4 - Group Workers' Compensation; Pools; Pooling; Insolvency Fund

(215 ILCS 5/107a.15)Sec. 107a.15.     Authority of Director.(a) If the Director determines that a group workers'  compensation pool is not in compliance with this Article, the Director  shall  require the pool to eliminate the condition causing the noncompliance within a  specified time  from the date the notice of the Director's requirement is mailed or delivered  to the pool.(b) If a pool fails to comply with the Director's requirement, the pool  shall be deemed  to be in a hazardous financial condition, and the Director may take one or more  of the actions  authorized by law as to pools in hazardous financial condition.    (Source: P.A. 91-757, eff. 1-1-01.)
215 ILCS 5/Art. VI heading
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VI - Foreign Or Alien Companies

 ARTICLE VI.      FOREIGN OR ALIEN COMPANIES (Article scheduled to be repealed on January 1, 2027)
215 ILCS 5/108
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VI - Foreign Or Alien Companies

 (from Ch. 73, par. 720)(Section scheduled to be repealed on January 1, 2027)Sec. 108.     Companies  that may be admitted to do business.(1) Upon complying with the provisions of this Article, a foreign or  alien company organized as a stock company, mutual company, reciprocal,  Lloyds or fraternal benefit society  may be admitted to transact in this State the kind or kinds of business  which a domestic company similarly organized may be authorized to transact  under this Code. Any certificate of authority issued to an alien Lloyds  shall be subject to all of the provisions of Section 103.(2) No foreign or alien mutual benefit society or burial society shall  hereafter be admitted to transact business in this State.(3) No foreign or alien company shall transact in this State any  insurance business not classified under Section 4.    (Source: P.A. 82-498.)
215 ILCS 5/109
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VI - Foreign Or Alien Companies

 (from Ch. 73, par. 721)(Section scheduled to be repealed on January 1, 2027)Sec. 109.     Application for certificate of authority.(1) A foreign or alien company in order to procure a certificate of  authority to transact business in this State shall make application  therefor to the Director.  The application shall set forth:(a) the name of the company, and the state or country     under the laws of which it is organized or authorized;(b) the title of the Act under or by which it was     incorporated or organized, the date of its incorporation or organization and, if a corporation, the period of its duration;(c) the class or classes of insurance business, as     provided in Section 4, in which it proposes to engage in this State, and the kinds of insurances in each class it proposes to write in this State;(d) if a life company, that it is not engaged in any     state in practices which, if engaged in in this State, would constitute a violation of Section 237;(e) whether or not it was authorized to transact     business in this State during any part of the 3-year period prior to its application and, if so, for what period;(f) whether or not it survives or was formed by a     merger, consolidation, reorganization, or reincorporation effected within 3 years prior to its application and, if so, whether and for what period or periods any of the companies that are parties to the merger, consolidation, reorganization, or reincorporation were authorized to transact business in this State within the 3-year period prior to its application; and(g) such additional information as the Director may     require to enable the Director to determine whether the company is entitled to a certificate of authority to transact business in this State and to determine and assess the taxes, fees and charges payable as in this Code prescribed.(2) Such application shall be made on forms prescribed and furnished by  the Director and shall be executed by the company by its president or a  vice-president or executive officer corresponding thereto, and verified by  such officer, and if a corporation, the corporate seal shall be thereto  affixed, attested by its secretary or other proper officer.    (Source: P.A. 90-655, eff. 7-30-98.)
215 ILCS 5/110
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VI - Foreign Or Alien Companies

 (from Ch. 73, par. 722)(Section scheduled to be repealed on January 1, 2027)Sec. 110.     Delivery  to director of application and documents.     There shall be delivered to the Director(a) the application of the company for a certificate     of authority;(b) a copy of its articles of incorporation or     articles of association as amended, duly certified by the proper officer of the state or country under whose laws the company is organized or incorporated, or if a reciprocal or Lloyds the power of attorney of the attorney-in-fact;(c) if an alien company, a copy of the appointment     and authority of its United States manager, certified by a proper officer of the company;(d) a copy of its by-laws or regulations, and if a     fraternal benefit society, a copy of its constitution, certified by its secretary or officer corresponding thereto;(e) the instrument authorizing service of process on     the Director required by section 112;(f) a statement of its financial condition and     business as of the end of the preceding calendar year complying as to form, content and verification with the requirements of this Code for annual statements, or a financial statement as of such later date as the Director may require;(g) a copy of the last report of examination     certified to by an insurance commissioner or other proper supervisory official; and(h) a certificate from the proper official of the     state or country wherein it is incorporated or organized that it is duly incorporated or organized and is authorized to write the kind or kinds of insurance which it proposes to write in this State.   (Source: Laws 1965, p. 422.)
215 ILCS 5/112
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VI - Foreign Or Alien Companies

 (from Ch. 73, par. 724)(Section scheduled to be repealed on January 1, 2027)Sec. 112.     Service of process - Director as attorney.(1) Every foreign or alien company desiring to transact business in this  State shall file with the Director a duly executed instrument whereby the  company shall appoint and constitute the Director and his successor or  successors in office the true and lawful attorney of such company upon whom  all lawful process in any action or legal proceeding against it may be  served and shall agree that any such lawful process against it which may be  served upon its said attorney as provided in this section shall be of the  same force and validity as if served upon the company and that the  authority thereof shall continue in force irrevocably so long as any  liability of the company in the State shall remain outstanding.(2) Process authorized by such instrument or by any similar instrument  heretofore executed shall be served by delivering to and leaving with the  Director duplicate copies of such process with payment of the fee  prescribed by this Code, and the service thereof upon such attorney shall  be deemed service upon the company. The Director shall forthwith forward  one copy of each such process by certified or registered mail prepaid  to the company, or  in the case of an alien company, to the United States Manager or last  appointed United States general agent of the company, giving the day and  the hour of such service. Service of such process shall not be complete  until the copy thereof has been so mailed and received by the company, and  the certified receipt or registry receipt shall be prima facie evidence  of the completion of  such service. Service of process on a reciprocal or Lloyds shall be  governed by sections 77 and 105 respectively.    (Source: P.A. 83-598.)
215 ILCS 5/113
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article VI - Foreign Or Alien Companies

 (from Ch. 73, par. 725)(Section scheduled to be repealed on January 1, 2027)Sec. 113.     When  certificate of authority to issue.     When a foreign or alien company has complied with the requirements of  this Article and all other requirements imposed on such company by existing  laws and has paid the taxes, fees and charges imposed by law, and the  operational history of the company when reviewed in conjunction with its  loss experience, the kinds and nature of risks insured, the financial  condition of the company and its ownership and the ratio of annual premium  volume to incurred acquisition expenses and to its policyholders' surplus  indicates a condition such that the expanded operation of the company in  this State will not create a condition which might be hazardous to its  policyholders, creditors or the general public, the Director must file in  his office the documents delivered to him and must issue to the company a  certificate of authority to transact in this State the kind or kinds of  business specified therein. Such certificate shall expire on the 30th day  of June of the calendar year succeeding the calendar year in which such  certificate is issued.    (Source: P.A. 77-1513.)