(215 ILCS 5/308.1) (from Ch. 73, par. 920.1)

(Section scheduled to be repealed on January 1, 2027)

Sec. 308.1. Examination of societies - adverse publications.

(a) The Director, or any person he or she may appoint, may examine any domestic, foreign or alien society transacting or applying for admission to transact business in this State in the same manner as authorized for examination of domestic, foreign or alien insurance companies. Requirements of notice and an opportunity to respond before findings are made public as provided in the laws regulating insurance companies shall also be applicable to the examination of societies.

(b) The expense of each examination and of each valuation, including compensation and actual expense of examiners, shall be paid by the society examined or whose certificates are valued, upon statements furnished by the Director.

(Source: P.A. 84-303.)