Section 1551.80  Foreign or Alien Companies

If the law or regulation in the place of domicile of a foreign or alien company provides a degree of protection to the policyholder and the public which is substantially equal to that provided by applicable provisions of the Illinois Insurance Code and this Part, the Director, to the extent deemed appropriate, may consider compliance with such law or regulation as compliance with applicable provisions of the Illinois Insurance Code and this Part.  The state of entry of an alien company shall be deemed its place of domicile for the purposes of this Part.

(Source:  Amended at 25 Ill. Reg. 4208, effective March 5, 2001)