(215 ILCS 5/200) (from Ch. 73, par. 812)
Sec. 200.
Examinations.
The pendency of any proceeding under this Article shall in no way affect
the power and authority of the Director to conduct any examination provided
for in Sections 132 through 132.7, in connection with the
business, conduct or affairs
of the company sought to be liquidated, rehabilitated or conserved.
An annual audit of any business having assets of more than $500,000 which
is under liquidation or rehabilitation pursuant to this Act shall be performed
by an independent outside certified public accountant, who is currently
engaged in the conduct of audits under the Illinois State Auditing Act.
The cost of this audit shall be paid by the Director out of the assets of
the business being liquidated or rehabilitated.
An annual audit of any special deputy appointed under Section 202
shall be conducted by an independent, outside certified public accountant
performing the audits provided for in the preceding paragraph. The cost of
this audit shall be allocated among the estates of the companies in
conservation, rehabilitation, or liquidation
on the basis of allocation methods established by the Director. The
Illinois Auditor General may, at his option, participate in the audit of
any special deputy.
Copies of all audits prepared under this Section shall be promptly provided
after completion to the Governor, to the Illinois Auditor General,
and to the majority and minority leaders of the Senate and the House of
Representatives.
(Source: P.A. 89-97, eff. 7-7-95.)
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