Illinois General Assembly - Illinois Compiled Statutes

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215 ILCS 5/58

(215 ILCS 5/58) (from Ch. 73, par. 670)

(Section scheduled to be repealed on January 1, 2027)

Sec. 58.

Governmental agencies and corporations may be members.

Any government or governmental agency, state or political subdivision
thereof, public or private corporation, board, association, estate, trustee
or fiduciary in this State or elsewhere, may make application, enter into
agreements for and hold policies or contracts in or with, and be a member
of, any domestic, foreign or alien mutual company subject to the provisions
of this Code. Any officer, representative, trustee, receiver or legal
representative of any such member or policyholder, shall be recognized as
acting for or on its behalf for the purpose of such contract or membership,
but shall not be personally liable upon such contract by reason of acting
in such representative capacity.

(Source: Laws 1937, p. 696.)