(215 ILCS 125/2-10)
Sec. 2-10.
Directors.
(a) After June 30, 2002, the corporate powers for domestic organizations
issued a certificate of authority under this Act must be exercised by, and its
business and affairs must be under the control of, a board of directors
composed of not less than 3 nor more than 21 natural persons who are at least
18
years of age. At least 3 of the directors must be residents and citizens of
this State. A person convicted of a felony may not be a director. A
director must be of good character and known professional, administrative, or
business ability. The requisite ability must include a practical knowledge of
managed health care, insurance, finance, or investment.
(b) After June 30, 2002, not less than one-third of the directors of a
domestic organization that is not a controlled insurer for purposes of Section
131.20b of the Illinois Insurance Code must be persons who are not officers or
employees of the organization. At least one of those persons must be included
in
any quorum for the transaction of business at any meeting of the board of
directors or any committee thereof.
(Source: P.A. 92-140, eff. 7-24-01.)
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