Section 2410.70 Final Filing Requirements

a)         Once the plan of dissolution or withdrawal has been effectuated, the insurance entity shall submit the following documents to the Director:

1)         Certification of the completion of such portions of the plan as may be reasonably expected, pending release of the statutory security deposit and, except for an HMO or an LHSO, cancellation of the Articles of Incorporation;

2)         Certification that there are no outstanding creditors, policyholders, enrollees, certificate holders, or enrollee/member obligations in effect that will require the use or maintenance of the statutorily required deposit and that, if the insurance entity is an HMO or LHSO, it currently does not and has no plans to engage in the business of insurance in this State;

3)         Most current balance sheet; 

4)         Original Certificate of Authority and/or, except for an HMO or LHSO, Articles of Incorporation; or an Affidavit of the loss of the original documents, submitted by a final officer of the insurance entity;

5)         Agreement for Assumption of Liabilities, if any, signed by the party who is to receive the security deposit.

b)         At such time as the Director is satisfied that the plan of dissolution or withdrawal, as approved, has been carried out as far as may be reasonably expected, and the documents required in Section 2410.70(a) have been filed, the statutory deposit may be released in accordance with the direction given in a certified Board Resolution pursuant to 50 Ill. Adm. Code 904.20.