(215 ILCS 5/126.13)
Sec. 126.13.
Equity interests.
A. Subject to the limitations of Section 126.10, an insurer may acquire
directly
or indirectly through an investment subsidiary, equity interests in business
entities organized under the laws of any domestic jurisdiction.
B. An insurer shall not acquire directly or indirectly through an investment
subsidiary an investment under this Section if, as a result of and after giving
effect
to the investment, the aggregate amount of investments then held by the insurer
under this Section would exceed 20% of its admitted assets or, except for
mutual
funds, the amount of equity interests then held by the insurer that are not
listed on
a qualified exchange would exceed 5% of its admitted assets. An
accident and health insurer shall not be subject to this Section but shall be
subject to the same aggregate limitation on equity interests as a property and
casualty insurer under Section 126.26 and also to the provisions of Section
126.22 of this Article.
C. An insurer shall not acquire under this Section any investments that the
insurer may acquire under Section 126.15.
D. An insurer shall not short sell equity interests unless the insurer
covers the short sale by owning the equity interest or an unrestricted right to
the equity interest exercisable within 6 months of the short sale.
(Source: P.A. 90-418, eff. 8-15-97.)
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