reglab/housing_qa huggingface dataset:
215 ILCS 5/60a
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III 1/2 - Alien Companies

 (from Ch. 73, par. 672a)Sec. 60a.     Alien companies; Illinois State of entry.(1)  An alien  company may use Illinois as a state of entry to transact insurance in the  United States by obtaining a certificate of authority pursuant to Section  111 and maintaining in this State a deposit of assets in trust in  accordance with the provisions of Section 60b.(2) A United States branch of an alien company that uses Illinois as a  state of entry to transact insurance in the United States shall be  considered a domestic company, and as such shall be subject to all  applicable provisions of this Code.  Transactions between the United States branch and the home office of an  alien company shall not be subject to the provisions of Section 131.20 and  subsection (1) of Section 131.20a, but remittances of profits of the United  States branch to the home office of an alien company shall be considered  dividends subject to the requirements of subsection  (2) of Section 131.20a.    (Source: P.A. 89-97, eff. 7-7-95.)
215 ILCS 5/60b
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III 1/2 - Alien Companies

 (from Ch. 73, par. 672b)Sec. 60b.     Alien companies; Illinois trusteed assets.(1) An alien company may not use Illinois as a state of entry to transact  insurance in the United States unless it maintains in this State a deposit of  assets in trust for the benefit of policyholders in the United States, which  assets shall be its "Trusteed Assets".  The United States branch of an alien  company shall maintain Trusteed Assets at least equal to (a) the sum of (i) its  minimum capital and surplus, and (ii) the amount of its liabilities to  policyholders, net of reinsurance for which credit is allowed pursuant to  Article XI, as reflected in its most recent financial statement on file with  the Director, minus (b) the sum of (i) the amount of all of its general state  deposits (including all interest accrued and due and payable  to the holder of the deposit), (ii) the amount of its special state  deposits (including all interest accrued and due and payable to the holder  of the deposit), (iii) the amount of its reinsurance recoverable on paid  losses (where such reinsurance is the type for which credit would be  allowed pursuant to Article XI), (iv) the amounts of its notes and bills  receivable, taken for premiums; (v) with respect to a company authorized to  write the kinds of insurance specified in Classes 2 and 3 of Section 4 of  this Code, the amount of its agents' balances and uncollected premiums; and  (vi) the amount of its funds held by or deposited with reinsureds.(2) Only those assets that qualify as authorized investments as provided  in Article VIII (and in Sections 131.2 and 131.3) shall be included in an alien  company's Trusteed Assets.     (Source: P.A. 88-45; 89-97, eff. 7-7-95.)
215 ILCS 5/60c
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III 1/2 - Alien Companies

 (from Ch. 73, par. 672c)Sec. 60c.     Requirements and contents of trust agreement.     Trust  agreements governing Trusteed Assets required by Section 60b shall satisfy  the following conditions:(1) Legal title to the Trusteed Assets shall be vested in the trustee or  trustees, and their successors lawfully appointed, in trust for the benefit  and security of policyholders of the alien company in the United States.(2) The agreement shall provide for substitution of a new trustee or  trustees, subject to the Director's approval.(3) All Trusteed Assets shall at all times be maintained as a trust fund  separate and distinct from all other assets.(4) The trustee or trustees shall maintain a record at all times  sufficient to identify the assets of the trust.(5) Withdrawal of or from the Trusteed Assets shall be made only as  provided in Section 60d.    (Source: P.A. 85-1373.)
215 ILCS 5/60d
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III 1/2 - Alien Companies

 (from Ch. 73, par. 672d)Sec. 60d.     Withdrawal of Trusteed Assets.     (1) The trust agreement  shall provide that no withdrawals of Trusteed Assets shall be made by the  alien company or permitted by the trustee or trustees without the prior  approval of the Director, except as follows:(a) Any or all income, earnings, dividends, or interest accumulations of  the Trusteed Assets may be paid over to the United States branch of the  alien company upon request of the company or its manager, provided that no  withdrawal shall be made that reduces the Trusteed Assets below the amount  required by Section 60b.(b) For the purpose of substituting other assets authorized for  investment by Article VIII and at least equal in value (as reflected in  the most recent financial statement on file with the Director) to those  being withdrawn, if such withdrawal is requested in writing by the alien  company's (i) United States manager or (ii) other United States  representative pursuant to general or specific written authority previously  given or delegated by the alien company's board of directors or other  similar governing body, and a copy of such authority has been filed with  the trustee or trustees.(c) For the purpose of making deposits required by law in any state for  the protection of the alien company's policyholders in the United States.  The trustee or trustees shall transfer any assets so withdrawn, and in the  amount so required to be deposited in the other state, directly to the  depository required to receive such deposit in such other state.(d) For the payment of obligations due from the United States branch of  the alien company to policyholders in the United States, provided that no  withdrawal shall be made that reduces the Trusteed Assets below the amount  required by Section 60b.(e) For the purpose of withdrawing any amount of the Trusteed Assets in  excess of the amount required by Section 60b, as determined by the alien  company's then most current annual statement on file with the Director.(f) For the purpose of transferring the Trusteed Assets to an appointed  liquidator, conservator, or rehabilitator pursuant to the order of a court  of competent jurisdiction.(2) If at any time the alien company becomes insolvent, or if its  Trusteed Assets are less than required under Section 60b, the Director  shall in writing order the trustee to suspend the right of the alien  company or any other person to withdraw assets as otherwise authorized  under paragraphs (a), (b), (c), (d) and (e) of subsection (1); and the  trustee shall comply with such order until otherwise ordered by the Director.    (Source: P.A. 85-1373.)
215 ILCS 5/60e
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III 1/2 - Alien Companies

 (from Ch. 73, par. 672e)Sec. 60e.     Domestication of Alien Company; definitions.     As used in  Sections 60e through 60i:(1) "Domestication" means the reorganization of the United States branch  of an alien company as the result of which a domestic company shall succeed  to all the business and assets and assume all the liabilities of the United  States branch of the alien company.(2) "United States branch" means the business unit through which  business is transacted within the United States by an alien company and the  assets and liabilities of such insurer within the United States pertaining  to such business.(3) "Domestic Company" means a stock or mutual insurer incorporated  under the laws of this State.    (Source: P.A. 85-1373.)
215 ILCS 5/60f
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III 1/2 - Alien Companies

 (from Ch. 73, par. 672f)Sec. 60f.     Domestication procedure.     (1) Upon compliance with Sections 60e  through 60i, any alien company authorized to do business in this State may,  with the prior written approval of the Director, domesticate its United  States branch by entering into an agreement in writing with a domestic  company providing for the acquisition by the domestic company of all of the  assets and the assumption of all of the liabilities of the United States branch.(2) The acquisition of assets and assumption of liabilities of the  United States branch by the domestic company shall be effected by filing  with the Director an instrument of transfer and assumption in form  satisfactory to the Director and executed by the alien company and the domestic company.    (Source: P.A. 85-1373.)
215 ILCS 5/60g
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III 1/2 - Alien Companies

 (from Ch. 73, par. 672g)Sec. 60g.     Domestication agreement; authorization; execution.     (1) The  domestication agreement referred to in Section 60f shall be authorized,  adopted, approved, signed, and acknowledged by the alien company in  accordance with the laws of the country under which it is organized.(2) In the case of a domestic company, the domestication agreement shall  be approved, adopted, and authorized by its board of directors and executed  by its president or any vice president and attested by its secretary or  assistant secretary under its corporate seal.    (Source: P.A. 85-1373.)
215 ILCS 5/60h
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III 1/2 - Alien Companies

 (from Ch. 73, par. 672h)Sec. 60h.     Director's approval of domestication agreement.     An executed  counterpart of the  domestication agreement, together with certified copies of the corporate  proceedings of the domestic company and the alien company, approving,  adopting and authorizing the execution of the domestication agreement,  shall be submitted to the Director for approval.  The Director shall  thereupon consider the agreement, and, if the Director finds that the same  is in accordance with the provisions hereof and that the interests of  policyholders of the United States branch of the alien insurer and of the  domestic company are not materially adversely affected, the Director shall  approve the domestication agreement and authorize the consummation thereof  in compliance with the provisions of Section 60i.  The Director shall  approve or disapprove the domestication agreement within 60 days  after it is submitted to the Director.    (Source: P.A. 85-1373.)
215 ILCS 5/60i
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III 1/2 - Alien Companies

 (from Ch. 73, par. 672i)Sec. 60i.         Consummation of domestication; transfer of assets and  deposits.  (1) Upon the filing with the Director of a certified copy of  the instrument of transfer and assumption pursuant to which a domestic  company succeeds to the business and assets of the United States branch of  an alien company and assumes all its liabilities, the domestication of the  United States branch shall be deemed to be effective; and thereupon all the  rights, franchises, and interests of the United States branch in and to  every species of property, real, personal, and mixed, and things in actions  thereunder belonging shall be deemed as transferred to and vested in the  domestic company, and simultaneously therewith the domestic company shall  be deemed to have assumed all of the liabilities of the United States  branch.  The domestic company shall be considered as having the age as the  oldest of the 2 parties to the domestication agreement for purposes of  complying with the requirements of laws relating to age of company.(2) All deposits of the United States branch held by the Director, or by  state officers or other state regulatory agencies pursuant to requirements  of state laws, shall be deemed to be held as security for the satisfaction  by the domestic company of all liabilities to policyholders within the  United States assumed from the United States branch; and such deposits  shall be deemed to be assets of the domestic company and shall be reported  as such in the annual financial statements and other reports which the  domestic company may be required to file.  Upon the ultimate release by any  such state officer or agency of any such deposits, the securities and cash  constituting such released deposit shall be delivered and paid over to the  domestic company as the lawful successor in interest to the United States branch.(3) Contemporaneously with the consummation of the domestication of the  United States branch, the Director shall direct the trustee, if any, of the  U. S. branch's Trusteed Assets to transfer and deliver to the domestic  company all assets, if any, held by such trustee.    (Source: P.A. 85-1373.)
215 ILCS 5/60j
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article III 1/2 - Alien Companies

(215 ILCS 5/60j) (from Ch. 73, par. 672j)Sec. 60j.     Trustees of alien companies.     (1) The directors of an alien  company may appoint citizens or  corporations of the United States as its trustees to hold funds and assets  in trust for the benefit of the policyholders and creditors of the company  in the United States. A certified copy of the record of such appointment  and of the deed of trust, approved by the Director, shall be filed with  him.(2) The Director may examine such trustee and any officers and agents,  books and papers thereof, with respect to the affairs of such alien company  in the same manner as he may examine officers, agents, books, papers and  affairs of companies.(3) The funds and assets so held by such trustees shall, with the  deposits otherwise made by the United States branch of the alien company in the  United States together with  loans in connection with its policies to policyholders,  and all other funds and assets held by the United States branch of the  alien company in the United States,  constitute  the assets of the company for the purpose of making its financial  statements required by this Code.  For purposes of making financial  statements required by this Code, the liabilities of an alien company shall  be limited to only those liabilities incurred in connection with its United  States business.(4) In applying the risk limitations as provided in Section 144 or any  limit on premium volume, the Director shall calculate such limitations  based solely on the alien company's assets in the United States that,  pursuant to subsection (3) of this Section, constitute the assets of the  company for purposes of making its financial statements required by this  Code and its surplus as regards policyholders as reflected in the most  recent financial statement on file with the Director.    (Source: P.A. 85-1373.)
215 ILCS 5/Art. IV heading
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IV - Reciprocals

 ARTICLE IV.      RECIPROCALS (Article scheduled to be repealed on January 1, 2027)
215 ILCS 5/61
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IV - Reciprocals

 (from Ch. 73, par. 673)(Section scheduled to be repealed on January 1, 2027)Sec. 61.     Scope of Article.(1) This Article shall apply to all reciprocals transacting or being  organized to transact any of the kinds of business specified in this  Article.(2) As used in this Article the word "subscriber" shall mean the  participant or policyholder. The word "attorney-in-fact" shall mean  the  representative of the subscribers. The word "reciprocal" shall mean  the  organization or group of all the subscribers.  The word "governmental  reciprocal" shall mean a reciprocal in which all subscribers are governmental  entities, including, but not limited to, federal, State, territorial,  commonwealth, and local governments and agencies, subdivisions, departments,  joint ventures, partnerships, and consortia of these governments.    (Source: P.A. 88-364.)
215 ILCS 5/62
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IV - Reciprocals

 (from Ch. 73, par. 674)(Section scheduled to be repealed on January 1, 2027)Sec. 62.     Authority  to exchange contracts.     Individuals, partnerships and corporations of this State are hereby  authorized to exchange reciprocal or inter-insurance contracts with each  other or with individuals, partnerships and corporations of other states  and countries, in accordance with the provisions of this Code and not  otherwise. All insurance contracts so exchanged shall be executed by an  attorney-in-fact duly authorized and acting for the subscribers.    (Source: Laws 1937, p. 696.)
215 ILCS 5/63
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IV - Reciprocals

 (from Ch. 73, par. 675)(Section scheduled to be repealed on January 1, 2027)Sec. 63.     Name.         The name or designation under which contracts are to be exchanged shall  include the words "Reciprocal" or "Inter-Insurance Exchange" or be  supplemented by the following words immediately below the name or  designation under which such contracts are exchanged: "A Reciprocal" or "An  Inter-Insurance Exchange." Such name or designation shall not be the same  as or deceptively similar to the name or designation adopted by any other  domestic company or any foreign or alien company authorized to transact  business in this State.    (Source: Laws 1937, p. 696.)
215 ILCS 5/64
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IV - Reciprocals

 (from Ch. 73, par. 676)(Section scheduled to be repealed on January 1, 2027)Sec. 64.     Principal  office.     The principal office of the attorney-in-fact of a domestic reciprocal  shall be maintained in this State, at such place as may be designated by  the subscribers in the power of attorney or other authority under which  insurance is to be effected or exchanged.    (Source: Laws 1937, p. 696.)
215 ILCS 5/65
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IV - Reciprocals

 (from Ch. 73, par. 677)(Section scheduled to be repealed on January 1, 2027)Sec. 65.     Authorized  kinds of business.     A reciprocal may be authorized to exchange contracts covering any or all  of the kinds of insurance enumerated in Classes 2 and 3 of Section 4.    (Source: Laws 1951, p. 605.)
215 ILCS 5/67
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IV - Reciprocals

 (from Ch. 73, par. 679)(Section scheduled to be repealed on January 1, 2027)Sec. 67.     Power of  attorney.     The power of attorney or other authority of the attorney-in-fact under  which contracts of insurance are to be exchanged pursuant to this Article  shall set forth(a) the address of the principal office of the     attorney-in-fact;(b) that the attorney-in-fact is authorized to accept     service of process on behalf of the reciprocal and to appoint the Director and his successor or successors in office the true and lawful attorney of such reciprocal for the service of process in actions upon contracts exchanged;(c) the amount to be deducted from advance deposits     to be paid to the attorney-in-fact and the items of expense, in addition to losses, to be paid by the reciprocal;(d) a provision for a cash deposit;(e) except as provided in Section 75, a provision for     a contingent several liability of each subscriber in an amount of not less than one nor more than ten times the cash deposit stated in the contract; and(f) such other provisions not inconsistent with law     as may be deemed necessary or advisable.   (Source: Laws 1937, p. 696.)
215 ILCS 5/68
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IV - Reciprocals

 (from Ch. 73, par. 680)(Section scheduled to be repealed on January 1, 2027)Sec. 68.     Declaration  of organization.     The attorney-in-fact of subscribers who desire to form a reciprocal  under this Article shall sign and acknowledge, before an officer authorized  to take acknowledgments, a declaration of organization in duplicate. When  the attorney-in-fact is a corporation, the declaration shall be  acknowledged by an officer thereof. The declaration shall set forth(a) the name of the attorney-in-fact and the name or     designation under which contracts are to be exchanged;(b) the location of the principal office of the     attorney-in-fact;(c) the class or classes of insurance, as provided in     Section 65, which it proposes to effect or exchange and the kinds of insurance in each class to be effected or exchanged;(d) such other provisions not inconsistent with law     which may be deemed by the attorney-in-fact or subscribers to be necessary or advisable.   (Source: Laws 1937, p. 696.)
215 ILCS 5/69
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IV - Reciprocals

 (from Ch. 73, par. 681)(Section scheduled to be repealed on January 1, 2027)Sec. 69.     Documents to be delivered to Director.     Upon the execution of a declaration of organization, there shall be  delivered to the Director(a) duplicate originals of the declaration of     organization;(b) a copy of the power of attorney of the     attorney-in-fact under or by virtue of which such insurance is to be effected or exchanged;(c) an instrument authorizing service of process on     the Director provided for in Section 77;(d) 2 organization bonds, or the cash or securities,     provided for in Section 70;(e) the form of guaranty fund agreements and of     guaranty capital shares, if any, as provided in Section 76 to be issued in connection with solicitation of surplus; and(f) the form of escrow agreement for the deposit of     cash or securities.   (Source: P.A. 84-502.)
215 ILCS 5/69.1
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IV - Reciprocals

 (from Ch. 73, par. 681.1)(Section scheduled to be repealed on January 1, 2027)Sec. 69.1.     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  exam has been completed the escrow agent is authorized to purchase securities  for deposit as required by Section 74 and forward them to the Director.  The escrow agent is authorized to release the balance of the escrow 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 5/70
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article IV - Reciprocals

 (from Ch. 73, par. 682)(Section scheduled to be repealed on January 1, 2027)Sec. 70.     Organization bonds.         The attorney-in-fact 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, subscribers and creditors, or  in lieu of delivering such bonds, the attorney-in-fact may deposit cash or  securities of the same kind and amount and on the same terms and  conditions, so far as applicable, as provided by said Section.    (Source: Laws 1937, p. 696.)