215 ILCS 5/107a.10

(215 ILCS 5/107a.10)

Sec. 107a.10.

Bond requirements.

(a) An administrator shall obtain and maintain in force fidelity bonds on
employees, officers,
or positions in an amount not less than the amount set forth in the column
"Minimum Amount of
Bond", based on the amount of assets administered on behalf of pools by the
administrator (as
determined from year to year) stated in the annual statement of the
pools as filed with the
Department. All such bonds shall be written with at least a one-year discovery
period and, if written
with less than a 3-year discovery period, shall contain a provision that no
cancellation or termination
of the bond, whether by or at the request of the insured or by the underwriter,
shall take effect before
the expiration of 90 days after written notice of the cancellation or
termination has been filed with
the Department unless an earlier date of cancellation or termination is
approved by the Department.

(b) The bonds shall include all employees, officers, or positions for the
following perils,
which may be covered under separate policies:

(1) dishonesty of employees and officers;

(2) robbery, burglary, larceny, theft, false