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Illinois Compiled Statutes - Full Text
Illinois Compiled Statutes (ILCS)
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(215 ILCS 5/811.1)
Sec. 811.1.
Distribution of Premiums.
The Fund is authorized to establish the proportion of total mine subsidence
insurance premiums collected by each insurer which shall be retained by the
insurer as a ceding commission, subject to review of the Director. The
remainder of such premiums shall be remitted by the insurer to the Fund at
times to be determined by the Fund. The ceding commission shall be uniform in
all reinsurance agreements entered into pursuant to Section 810.1 of this
Article
and shall be based on reasonable administrative costs to the insurers,
including agents' commissions.
(Source: P.A. 88-379.)
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