(215 ILCS 5/539) (from Ch. 73, par. 1065.89)
Sec. 539.
Plan of operation.
(a) The Fund shall submit to the Director
a plan of operation and any
amendments thereto necessary or suitable to assure the fair, reasonable,
and equitable administration of the Fund. The plan of operation and any
amendments thereto shall become effective upon approval in writing by the
Director.
(b) If the Fund fails to submit a suitable plan of operation within 90
days following the effective date of this Article or if at any time
thereafter the Fund fails to submit suitable amendments to the plan of operation, the
Director shall, after notice and hearing pursuant to Sections 401, 402 and
403 of this Code, adopt and promulgate
such reasonable
rules as are necessary or advisable to effectuate the provisions of this
Article. Such rules shall continue in force until modified by the Director
or superseded by a plan of operation submitted by the Fund and approved
by the Director.
(c) All member companies must comply with the plan of operation.
(Source: P.A. 82-210.)
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