(215 ILCS 5/123A-11) (from Ch. 73, par. 735A-11)
(Section scheduled to be repealed on January 1, 2027)
Sec. 123A-11.
Prohibition against agreements of use or adherence.
(1) Two or more companies, except as authorized in this Article or in
Section 478.1 of this Code, must not agree with each other or any advisory
organization to adhere to or to use any statistics, policy or bond forms or
underwriting rules furnished by any advisory organization or other source,
either as a condition to receive such statistics, policy or bond forms or
underwriting rules or otherwise.
(2) The fact that two or more companies, whether or not members or
subscribers of an advisory organization, use consistently or
intermittently, the insurance statistics, insurance policy or bond forms or
underwriting rules of an advisory organization, is not sufficient in itself
to support a finding that an agreement to adhere exists, and may be used
only for the purpose of supplementing or explaining direct evidence of the
existence of any such agreement.
(3) Two or more companies having a common ownership or operating in this
State under common management or control may act in concert with respect to
any matters pertaining to those activities authorized in this Article or in
Section 478.1 of this Code between or among themselves the same as if they
constituted a single company, and to the extent that such matters relate to
co-surety bonds, two or more admitted companies executing such bonds are
authorized to act in concert between or among themselves as if they
constituted a single company. Nothing hereunder requires such companies to
act in concert.
(Source: P.A. 77-1882.)
|