Section 8100.200  Definitions of terms Used in this Part

a)         As used in this Part, unless the context otherwise requires, the term:

            "Act" means the Title Insurance Act [215 ILCS 155].

            "Delinquency assessment" means any amount, as determined by the Division, payable under Section 15 of the Act and not submitted with the report of each foreign title company as required under Section 8100.1500 of this Part.

            "Surplus as regards policyholders" means the total of capital paid-up, gross paid-in and contributed surplus, special surplus funds, unassigned funds less treasury stock at cost, all as shown on the company's balance sheet.

            "Consideration" means, but is not limited to, monies, things, salaries, fees, duplicate payments of a charge, stocks, dividends, distributions of partnership profits, credits representing monies that may be paid at a future date, special bank deposits or accounts, banking terms, special loan or loan guarantee terms, services of all types at special or free rates, and sales or rentals at special prices or rates.

            "Director's authorized representative" means any person employed by or on behalf of the Division to whom the Director has delegated verbally or in writing authority to act on the Director's behalf.

b)         A Section in this Part that defines a term without express reference to the Act or to this Part or to a portion thereof defines that term for all purposes as used both in the Act and in this Part.  Terms defined in the Act and not defined in this Part have the meanings given them in the Act.

(Source:  Amended at 34 Ill. Reg. 852, effective December 29, 2009)