(215 ILCS 5/121-1) (from Ch. 73, par. 733-1)
Sec. 121-1.
Purpose of Article.
The purpose of this Article is to subject certain insurers to the
jurisdiction of the Director of Insurance and the courts of this State in
suits by or on behalf of the State. The General Assembly declares that it
is concerned with the protection of residents of this State against acts by
insurers not authorized to do an insurance business in this State, by the
maintenance of fair and honest insurance markets, by protecting authorized
insurers which are subject to regulation from unfair competition by
unauthorized insurers, and by protecting against the evasion of the
insurance regulatory laws of this State. In furtherance of this State
interest, the General Assembly in this Article provides methods for
substituted service of process upon such insurers in any proceeding, suit
or action in any court and substituted service of any notice, order,
pleading or process upon such insurers in any proceeding by the Director of
Insurance to enforce or effect full compliance with the insurance laws of
this State. In so doing, the State exercises its powers to protect its
residents and to define what constitutes transacting an insurance business
in this State, and also exercises powers and privileges available to this
State under Public Law 79-15, 79th Congress of the United States, Chapter
20, 1st Sess., S. 340, 59 Stat. 33; 15 U.S.C. 1011 through 1015, as
amended, which declares that the business of insurance and every person
engaged therein shall be subject to the laws of the several states.
(Source: P.A. 77-1565.)
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