Illinois General Assembly - Illinois Compiled Statutes

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425 ILCS 25/12

(425 ILCS 25/12) (from Ch. 127 1/2, par. 16)

Sec. 12. Insurance assessment.

Every fire insurance
company, whether upon the stock or mutual plan, and every other personal
or business entity doing
any form of fire insurance business in the State of Illinois, shall pay
to the Department of
Insurance in the month of March, such amount as may be
assessed by the Department of Insurance, which may not exceed 1% of
the gross fire, sprinkler leakage, riot, civil
commotion, explosion and motor vehicle fire risk premium receipts of
such company or other entity from such
business done in the State of Illinois during the preceding year, and
shall make an annual report or statement under oath to the Department
specifying the amount of such premiums received during the preceding
year. The Department of Insurance shall pay the money so received
into the Fire Prevention Fund, to be used as specified
in Section 13.1 of this Act.

(Source: P.A. 101-82, eff. 1-1-20.)