(215 ILCS 5/123D-5)
Sec. 123D-5. Definitions. As used in this Article:
"Member" means a nonprofit organization that participates as an insured in a nonprofit risk organization.
"Nonmember charitable organization" has the meaning set forth in
subsection (n) of Section 501 of the Internal Revenue Code.
"Nonprofit organizations" means organizations described in paragraph (3) of
subsection (c), and exempt from taxation under subsection (a), of Section 501
of the
Internal Revenue Code.
"Nonprofit risk organization" means a nonprofit company organized to do
business solely with nonprofit organizations as a qualified charitable risk
pool under
subsection (n) of Section 501 of the Internal Revenue Code that is organized in
accordance with this Article.
"Startup capital" has the meaning set forth in subsection (n) of
Section 501
of the Internal Revenue Code.
(Source: P.A. 93-918, eff. 1-1-05.) |