(215 ILCS 5/51) (from Ch. 73, par. 663)
(Section scheduled to be repealed on January 1, 2027)
Sec. 51.
Issuance of
certificate of authority.
When the Director has been notified that the company has the required
surplus as set forth in Section 43 of this Article as now and hereafter
amended, he shall conduct an examination of the company. If he finds that
the organization is complete and that all of the requirements of this Code
have been met he shall issue to such company a certificate of authority to
transact the kind or kinds of business specified therein. No company shall
transact any business of insurance in this State until it shall have
received such certificate of authority as herein prescribed nor any
business of insurance not specified in such certificate of authority.
(Source: Laws 1967, p. 1808.)
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