(215 ILCS 5/464) (from Ch. 73, par. 1065.11)
Sec. 464.
Joint underwriting or joint reinsurance.
(1) Every group,
association or other organization of companies which
engages in joint underwriting or joint reinsurance, shall be subject to
regulation with respect thereto as herein provided, subject, however, with
respect to joint underwriting, to all provisions of this Article, and with
respect to joint reinsurance, to Sections 465, 467, 469, 470 and 471 of
this Article.
(2) If, after a hearing, the Director finds that any activity or
practice of any such group, association or other organization is unfair or
unreasonable or otherwise inconsistent with the provisions of this Article,
he may issue a written order specifying in what respects such activity or
practice is unfair or unreasonable or otherwise inconsistent with the
provisions of this Article, and requiring the discontinuance of such
activity or practice.
(Source: Laws 1947, p. 1098.)
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