(215 ILCS 5/315.6) (from Ch. 73, par. 927.6)
(Section scheduled to be repealed on January 1, 2027)
Sec. 315.6. Application of other Code provisions. Unless otherwise
provided in this amendatory Act, every fraternal benefit society shall be
governed
by this amendatory Act and shall be exempt from all other provisions of the
insurance laws of this State not only in governmental relations with the
State but for every other purpose, except for those provisions specified in
this amendatory Act and except as follows:
(a) Sections 1, 2, 2.1, 3.1, 117, 118, 132, 132.1, | ||
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(b) Articles VIII 1/2, XII, XII 1/2, XIII, XXIV, and | ||
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(Source: P.A. 98-814, eff. 1-1-15 .)
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(215 ILCS 5/315.7) (from Ch. 73, par. 927.7)
(Section scheduled to be repealed on January 1, 2027)
Sec. 315.7.
Severability.
If any provision of this amendatory Act or the
application of such provision to any circumstance is held invalid, the
remainder of the amendatory Act or the application of the provision to other
circumstances shall not be affected thereby.
(Source: P.A. 84-303 .)
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(215 ILCS 5/315.9) (Section scheduled to be repealed on January 1, 2027) Sec. 315.9. Voluntary dissolution. Upon application to the Director, a domestic society may request that it be dissolved and that its existence be terminated. The application shall demonstrate that the applicant has satisfied its members' certificate obligations or that it has transferred such obligations to another organization, domestic or foreign, by means of assumption or bulk reinsurance or otherwise, and that the domestic society's supreme governing body has approved the termination and dissolution. The application shall contain any other information required by the Director. Any limitation related to reinsurance by a domestic society shall not apply to reinsurance entered into in conjunction with the transfer of members' certificate obligations as a part of a voluntary dissolution. Upon approval of the application by the Director, the domestic society shall be deemed dissolved and its existence terminated as of the date set forth in the application.
(Source: P.A. 98-814, eff. 1-1-15 .) |
(215 ILCS 5/Art. XVIII heading) ARTICLE XVIII.
MUTUAL BENEFIT ASSOCIATIONS
(Repealed by P.A. 98-969, eff. 1-1-15)
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