(215 ILCS 155/15) (from Ch. 73, par. 1415)
Sec. 15. Retaliatory provisions; fees.
Whenever the existing or future laws of any State or country
shall require of title insurance companies incorporated or organized under
the laws of this State, as a condition precedent to their transacting in
such other State or country the business of title insurance, compliance with laws, rules, regulations or prohibitions
more onerous or burdensome than those imposed under this Act by this State
on foreign title insurance companies transacting such business in this
State, or shall require any deposit of securities or other obligations in
such State or country for the protection of policyholders, or otherwise,
in excess of the amounts required of foreign title insurance companies
by this Act, or shall require of Illinois title insurance companies doing such
business in such State or country, the payment of penalties, fees, charges
or taxes greater than the aggregate for like purposes imposed by the laws
of this State upon such foreign title insurance companies, then such laws,
rules, regulations, and prohibitions of said other State or country shall
apply to title insurance companies incorporated or organized under the laws
of such State or country doing business in this State, and all such
companies, doing business in this State, shall be required to make deposits
with the Department, and to pay to the Department penalties, fees, charges,
and taxes at least in amounts equal to those required in the aggregate for
like purpose of Illinois companies doing such business in such State or
country.
(Source: P.A. 94-893, eff. 6-20-06.)
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