(215 ILCS 5/177) (from Ch. 73, par. 789)
Sec. 177.
Transfer
of deposits.
The provisions of section 170 applicable to the transfer of deposits
of legal reserves on policies of merged or consolidated companies shall
apply to the transfer of deposits of such reserves of a ceding company in
the case of a reinsurance agreement, and for the purposes of determining
the conditions and requirements for such transfer the assuming company
shall be regarded as a surviving or new company and the ceding company
shall be regarded as a company that has been merged or consolidated.
(Source: Laws 1937, p. 696.)
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