|  |
Illinois Compiled Statutes
Information maintained by the Legislative Reference Bureau Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide. Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.
INSURANCE
(215 ILCS 5/) Illinois Insurance Code. 215 ILCS 5/391
(215 ILCS 5/391) (from Ch. 73, par. 1003)
Sec. 391.
Trustee may have corporate surety.
A party of whom a bond or
other undertaking is required or permitted or by law allowed may agree with
his sureties for the deposit or safekeeping of any or all moneys, assets
and other property for which he, she or it is or may be held responsible,
with a bank, savings bank, safe deposit, savings and loan association or
trust company authorized by law to do business as such, and in such manner
as to prevent the withdrawal
or alienation thereof without the written consent of such sureties or an
order of the court having jurisdiction of such fiduciary made on such notice
to such sureties as such court may direct. It shall be lawful for such sureties
to enter into contracts for their indemnity or security with any person, partnership,
association or corporation, provided that such contracts are not prohibited
by law or against public policy.
(Source: P.A. 83-1362.)
|
215 ILCS 5/392
(215 ILCS 5/392) (from Ch. 73, par. 1004)
Sec. 392.
Estoppel.
Any company which shall execute any bond, recognizance, obligation,
stipulation or undertaking as surety shall be estopped, in any proceeding
to enforce the liability which it shall have assumed to incur, to deny its
power to execute the same or assume such liability.
(Source: Laws 1937, p. 696.)
|
215 ILCS 5/392.1
(215 ILCS 5/392.1) (from Ch. 73, par. 1004.1)
Sec. 392.1.
Casualty and surety companies exempted from filing appeal bonds upon proof of liability - Taxable costs.
Whenever an appeal is taken from any judgment in any case wherein it
appears to the court that all of the particular liability of the
appellant thereunder is insured against in and by a liability insurance
policy or surety bond issued by any insurance company authorized to do
business in the State of Illinois, and the court is satisfied of the
applicable coverage of such policy or bond, it shall not be required of the
appellant to provide any appeal bond or bond to stay enforcement pending such
appeal, but such insurance company may be required by the court, and is
hereby given authority, to execute its written recognizance of the adverse
party or parties for the payment of the taxable costs of such appeal.
Such company shall deposit with the court a copy of the
insurance policy or bond and shall admit its liability thereunder, and
agree to pay such judgment against its insured, if any, as shall be
affirmed by the appellate court; and in such case the court having
jurisdiction thereof, on its own motion, may enter judgment against the
insurance company to such extent without further proceedings.
(Source: P.A. 84-546.)
|
215 ILCS 5/Art. XXIII
(215 ILCS 5/Art. XXIII heading)
ARTICLE XXIII.
FIRE AND MARINE INSURANCE
|
215 ILCS 5/393
(215 ILCS 5/393) (from Ch. 73, par. 1005)
Sec. 393.
Scope of
article.
This article shall apply to all companies authorized to transact the
kind or kinds of business enumerated in Class 3 of Section 4.
(Source: Laws 1937, p. 696.)
|
215 ILCS 5/393.1
(215 ILCS 5/393.1) (from Ch. 73, par. 1005.1)
Sec. 393.1.
Unearned premium reserve.
(1) Every insurance company authorized in this State to transact any of
the kinds of business described in Class 3 of Section 4 shall maintain an
unearned premium reserve on all policies in force which reserve shall be
charged as a liability. The portions of the gross premiums in force, after
deducting bona fide reinsurance in authorized companies, which shall be
held as a premium reserve, shall never be less in the aggregate than the
company's actual liability to all its insureds for the return of gross
unearned premiums. In the calculation of the company's actual liability to
all its insureds, the reserve shall be computed pursuant to the method
commonly referred to as the monthly pro rata method; provided, however,
that the Director may require that such reserve shall be equal to the
unearned portions of the gross premiums in force, after deducting
reinsurance in authorized companies, in which case the reserve shall be
computed on each respective risk from the date of the issuance of the
policy.
(2) Before any reinsurance may qualify as a deduction from a company's
unearned premium reserve, the accepting company shall assume full liability
for the amount of coverage which the ceding company guaranteed for the
portions of premiums which it ceded to the accepting company.
(Source: Laws 1967, p. 1745.)
|
215 ILCS 5/393a
(215 ILCS 5/393a) (from Ch. 73, par. 1005a)
Sec. 393a.
Group professional liability insurance defined.) Group
professional liability insurance is declared to be that form of liability
insurance covering not less than 10 employees of any public school
district, nonprofit organization or other organization operating an
elementary or secondary school, including, but not limited to, nursery and
kindergarten programs, or of any public, nonprofit or other institution of
higher education for all sums for which such employees may become liable
for rendering, failing to render, or as a consequence of rendering or
failing to render professional services in such employment.
However, such coverage shall not include intentional acts or omissions
in violation of any law or court order.
Such coverage shall
be written under a master policy issued to
any governmental corporation, unit, agency or department thereof, or to
any corporation, copartnership,
individual employer, or to any association upon application of an executive
officer or trustee of such
association having a constitution or by-laws and formed in good faith for
purposes other than that of
obtaining insurance, where officers, members, employees of members or classes
or departments thereof,
may be insured for their individual benefit.
(Source: P.A. 79-685.)
|
215 ILCS 5/393b
(215 ILCS 5/393b) (from Ch. 73, par. 1005b)
Sec. 393b.
Group
professional liability insurance authorized.)
Any insurance company authorized to write group professional liability insurance in this
State shall have power to issue group professional liability policies.
No policy of group
professional liability insurance may be issued or delivered in this State unless
a copy of the form thereof shall have been filed with the Director of
Insurance and approved by it
and it contains in substance
the provisions required by Sections 393c through 393f of this
Article.
(Source: P.A. 79-685.)
|
215 ILCS 5/393c
(215 ILCS 5/393c) (from Ch. 73, par. 1005c)
Sec. 393c.
"Entire contract" specified.)
Each group professional liability insurance policy shall provide that the policy, the
application of the employer, or executive officer or trustee of any
association, and the individual applications, if any, of the employees,
members or employees of members insured shall constitute the entire
contract between the parties, and that all statements made by the employer,
or the executive officer or trustee, or by the individual employees,
members or employees of members shall, in the absence of fraud, be deemed
representations and not warranties, and that no such statement shall be
used in defense to a claim under the policy, unless it is contained in a
written application.
(Source: P.A. 79-685.)
|
215 ILCS 5/393d
(215 ILCS 5/393d) (from Ch. 73, par. 1005d)
Sec. 393d.
Certificates required.)
Each group professional liability insurance policy shall provide that the insurer will
issue to the employer, or to the executive officer or trustee of the
association, for delivery to the employee, member or employee of a member,
who is insured under such policy, an individual certificate setting forth a
statement as to the insurance protection to which he is entitled and to
whom payable.
(Source: P.A. 79-685.)
|
215 ILCS 5/393e
(215 ILCS 5/393e) (from Ch. 73, par. 1005e)
Sec. 393e.
New
members of group.)
Each group professional liability insurance policy shall provide that to the group or
class thereof originally insured shall be added from time to time all new
employees of the employer, members of the association or employees of
members eligible to and applying for insurance in such group or class but
participation in the group plan shall not be required as a condition of
employment, nor shall any member not participating in the plan be coerced
or discriminated against.
(Source: P.A. 79-685.)
|
215 ILCS 5/393f
(215 ILCS 5/393f) (from Ch. 73, par. 1005f)
Sec. 393f.
Conversion rights.)
Each group professional liability insurance policy shall provide that any member of the
group shall have the right to convert his group policy to an individual
standard policy of insurance in the same company as offered by the insurer
to the non-group insureds upon termination of his connection with the group
extending to him the same limits of coverage.
(Source: P.A. 79-685.)
|
215 ILCS 5/393g
(215 ILCS 5/393g) (from Ch. 73, par. 1005g)
Sec. 393g.
Cancellation restricted.)
An insurer may not cancel the insurance of an individual member of a
group covered by a group professional liability insurance policy except for the
non-payment of premium by such member or unless the insurance for the
entire group is cancelled. In such cases notice of cancellation as provided
in like non-group policies shall be given to each member.
(Source: P.A. 79-685.)
|
215 ILCS 5/395
(215 ILCS 5/395) (from Ch. 73, par. 1007)
Sec. 395.
Reserves for marine and inland marine.
In the case of policies
of marine or inland navigation or transportation insurance the unearned
premium reserve, to be charged as a liability, shall be fifty per centum of
the amount of the premiums upon risks covering not more than one passage
not terminated and shall be upon a pro rata basis for all other policies.
(Source: Laws 1937, p. 696.)
|
215 ILCS 5/396
(215 ILCS 5/396) (from Ch. 73, par. 1008)
Sec. 396.
Loss and
loss expense reserves.
(1) Every company authorized to transact in this State any of the kinds
of business described in Class 3 of Section 4 shall, at all times, maintain
reserves in an amount estimated in the aggregate to provide for the payment
of all losses and claims incurred, whether reported or unreported, which
are unpaid and for which such company may be liable, and to provide for the
expenses of adjustment or settlement of such losses and claims. For the
purpose of such reserves, the company shall keep a complete and itemized
record showing all losses and claims on which it has received notice,
including all notices received by it of the occurrence of any event which
may result in a loss. Such record shall be opened in chronological receipt
order, with each notice of loss or claim identified by appropriate number
or coding.
(2) Whenever the loss and loss expense experience of such company shows
the reserves, calculated in accordance with the foregoing provisions, to be
inadequate, the Director may require such company to maintain additional
reserves.
(Source: Laws 1967, p. 1819.)
|
215 ILCS 5/397
(215 ILCS 5/397) (from Ch. 73, par. 1009)
Sec. 397.
Standard fire policy.) The Director of Insurance shall
promulgate such rules and regulations as may be necessary to effect
uniformity in all basic policies of fire and lightning insurance issued
in this State, to the end that there be concurrency of contract where
two or more companies insure the same risk.
(Source: P.A. 80-1441.)
|
215 ILCS 5/397.05
(215 ILCS 5/397.05) (from Ch. 73, par. 1009.05)
Sec. 397.05.
Standard fire policy; appraisal.
When an insured
requests an appraisal under a policy of fire and extended coverage
insurance, as defined in subsection (b) of Section 143.13, and the
insured's full amount of appraised loss is upheld by agreement of the
appraisers or the umpire, then the insured's appraisal fee and umpire's
appraisal fee shall be paid by the insurer.
(Source: P.A. 87-681.)
|
215 ILCS 5/397.1
(215 ILCS 5/397.1) (from Ch. 73, par. 1009.1)
Sec. 397.1.
Certificate regarding payment of taxes and expenses on
property sustaining loss.
(a) It shall be unlawful for any company transacting insurance business
in this State to pay a claim of an insured property owner for loss by fire
or explosion to a structure located in this State where the amount
recoverable for loss to the structure under a policy exceeds $25,000, until
the insurance company receives the certificate required by this Section. A
notice, to the State's Attorney of the county where the structure is
located, of the insurers intent to pay a claim shall include the name of
the property owner, the address of the property, its legal description, the
permanent real estate index number that identifies the property for
purposes of taxation, and the amount of the claim to be paid.
(b) For purposes of this Section, the following definitions are
applicable:
(1) "Insured property owner" is a person named as an | | insured who is the owner, title-holder or mortgagee of a structure, the holder of an interest secured by the structure, the beneficiary of a land trust owning or holding title to a structure, the lessee of a structure with a contractual obligation for property taxes, or the assignee of any such person.
|
|
(2) "Amount recoverable" is the dollar amount payable
| | under all insurance policies for loss to the structure.
|
|
(3) "Proceeds" is the dollar amount payable for loss
| | to the structure under an insurance policy.
|
|
(4) "Delinquent property taxes" are those property
| | taxes on the property which are delinquent pursuant to Section 21-15, 21-20, or 21-25 of the Property Tax Code, including those delinquent taxes on property forfeited under Section 21-225 of the Property Tax Code, as of the date of loss.
|
|
In determining delinquent property taxes under this
| | Section, the amount of property taxes for which a certificate of error has been issued pursuant to Section 14-10 or 14-20 of the Property Tax Code shall not be considered delinquent.
|
|
(5) "Incurred demolition expense" is: a. the cost of
| | demolishing or removing a structure from property by or at the expense of a unit of local government if the demolition or removal occurs on a date preceding the later of (i) the acceptance by the insurance company of a Proof of Loss for an agreed amount of proceeds, or (ii) the date of receipt by the unit of local government of a request for execution of the certificate required by this Section; or b. the amount estimated by the unit of local government when it receives a request to execute the certificate required by this Section; or c. the amount ordered to be withheld by a court within 28 days after a unit of local government receives a request for execution of the certificate required by this Section. The unit of local government must be a party to such proceeding.
|
|
Incurred demolition expense shall be determined under
| | subparagraph a. whenever possible. In determining the incurred demolition expense under subparagraph b., the unit of local government shall make its estimate and execute the certificate within 30 days after receiving a request for execution. If the unit of local government shall fail within 30 days to execute the certificate, as required by subparagraph a., the company can proceed to make payment of the claim as if the certificate had been received showing no unpaid demolition costs. The request for execution may be served personally, and may be proven by a written receipt signed by the local official as of the date the request was made or by service on the local official by certified mail, return receipt requested. A court order under subparagraph c. shall supersede an estimate under subparagraph b.
|
|
(6) "Property" is the lot on which the structure is
| |
(7) "Structure" is a building.
(8) "Claim" is the demand by an insured for payment
| | under an insurance policy or policies.
|
|
(9) "Proof of Loss" is the document on which an
| | insured formally presents his claim to an insurance company.
|
|
(10) "Certificate" is the executed form prescribed by
| | the Director of Insurance.
|
|
(11) "Executed" means signed by the appropriate
| | official or unit of government.
|
|
(c) For any claim to which this Section is applicable, an insured
property owner must submit one of the following to the insurance
company:
(1) a certificate that with respect to the property
| |
a. no delinquent property taxes, and
b. no unpaid incurred demolition expenses;
(2) a certificate setting forth with respect to the
| |
a. the amount of unpaid delinquent property taxes,
b. the amount of unpaid incurred demolition
| |
c. a direction by an insured property owner to
| | the insurance company to pay the unpaid delinquent property taxes and unpaid incurred demolition expenses.
|
|
(d) (1) Except as provided in paragraph (2) of this
| | subsection (d), if a certificate is submitted pursuant to paragraph (2) of subsection (c) of this Section, the insurance company shall pay the unpaid delinquent property taxes and unpaid incurred demolition expense from the proceeds payable by issuing a draft or check payable to the appropriate tax collector or unit of local government.
|
|
Any proceeds remaining shall be paid to the insured
| |
(2) In the event incurred demolition expense is
| | determined by estimation under paragraph (5) of subsection (b) of this Section in cities of over 2,000,000, the insurance company shall hold the amount estimated until an amended certificate executed by the appropriate local government official is submitted stating (i) that no demolition expense will be incurred or (ii) the actual unpaid incurred demolition expense. The insurance company shall then issue a draft or check payable to the unit of local government for the actual unpaid incurred demolition expense. Any proceeds remaining shall be paid to the insured property owner.
|
|
In determining the amount of proceeds remaining under
| | this paragraph, the insured property owner shall receive interest on the amount withheld from the date the certificate is executed as provided in Section 2 of the Interest Act.
|
|
(e) If, under this Section, the proceeds payable are less than the
amount of the unpaid delinquent property taxes and unpaid incurred
demolition expense, unpaid property taxes shall be paid first.
(f) If incurred demolition expense withheld pursuant to
subparagraphs b. or c. of paragraph 5 of subsection (b) of this Section
exceeds the ultimate cost of demolition, the excess shall first be
applied to unpaid delinquent property taxes. Any amount of proceeds
remaining shall be paid to the insured property owner.
(g) Nothing in this Section shall be construed as:
(1) making an insurance company liable for any amount
| | in excess of the proceeds payable under its insurance policy unless the insurance company shall have made payment to the named insured without satisfying the requirements of this Section;
|
|
(2) making a unit of local government or tax
| | collector an insured under an insurance policy; or
|
|
(3) creating an obligation for an insurance company
| | to pay unpaid delinquent property taxes or unpaid incurred demolition expense other than as provided in subsection (d) of this Section.
|
|
(h) An insurance company making a payment of proceeds under this
Section for unpaid delinquent taxes or unpaid incurred demolition
expense shall be entitled to the full benefit of such payment, including
subrogation rights and other rights of assignment.
(i) Unpaid property taxes and unpaid incurred demolition expense for
a claim for loss to a structure occurring after the issuance of a tax
deed pursuant to Section 22-40 of the Property Tax Code shall not include any
unpaid property tax or unpaid demolition expense arising before the issuance of
the tax deed.
(j) The county collector shall be designated as the local
official who shall execute the certificate required by this Section regarding
delinquent property taxes. The village clerk or city clerk in incorporated
areas and the official in charge of the county building department in
unincorporated areas shall be designated as
the local official who shall execute the certificate required by this Section
regarding demolition expenses.
(k) A fee not to exceed $5 may be charged by a unit of local
government for execution of the certificate required by this Section.
(l) This Section shall retroactively apply to any policy issued or renewed
on or after January 1, 1978 for which a claim subject to this Section remains
unpaid as of the effective date of this amendatory Act of 1978.
(Source: P.A. 87-507; 88-667, eff. 9-16-94; 88-670, eff. 12-2-94.)
|
215 ILCS 5/399
(215 ILCS 5/399) (from Ch. 73, par. 1011)
Sec. 399.
Combination policies.
Two or more companies authorized to transact business in this State
may issue a combination or group form of policy, using a distinctive
title therefor, which title shall appear at the head of such policy
followed by the titles of the companies obligated thereupon, and which
policy shall be executed by the officers of each such companies;
provided, that before such companies shall issue such combination or
group policy, the title of such proposed policy and the terms of the
additional provisions thereof, hereby authorized, shall have been filed
with the Director, which terms, in addition to the provisions of the
standard policy and not inconsistent therewith, shall provide
substantially under a separate title therein, as follows:
(a) that each company executing such policy shall be liable for the
full amount of any loss or damage, according to the terms of the policy,
or a specific percentage thereof;
(b) that service of process, or of any notice or proof of loss
required by the said policy, upon any of the companies executing the
same shall be deemed to be service upon all; and provided further that
the unearned premium liability on each policy so issued shall be
maintained by each of such companies on the basis of the liability of
each to the insured thereunder.
(Source: Laws 1937, p. 696.)
|
215 ILCS 5/400
(215 ILCS 5/400) (from Ch. 73, par. 1012)
Sec. 400.
Supplemental or comprehensive contracts.
Forms for supplemental contracts or comprehensive contracts whereby
the property described may be insured against one or more risks
specified in Class 2 or Class 3 of Section 4, in addition to the risk of
direct loss or damage by fire, and forms of fire policies on farm
property may be approved by the Director and their use in connection
with or in lieu of a standard fire insurance policy may be authorized by
the Director.
(Source: Laws 1937, p. 696.)
|
215 ILCS 5/400.1
(215 ILCS 5/400.1) (from Ch. 73, par. 1012.1)
Sec. 400.1. Group or master policy-certificate inland marine
insurance authorized. (1) Any insurance company authorized to write inland
marine insurance in this State may issue group or master policy-certificate inland
marine policies which may include coverages incidental or supplemental to the
inland marine policy, if the insurer is authorized to write the class of coverage
which is incidental or supplemental. No policy, certificate of insurance, memorandum
of insurance, application for insurance, endorsement or rider, may be issued
for delivery
in this State unless a copy of the form thereof shall have been filed with the Director
of Insurance and approved, or unless exempted from filing by such
rules and regulations as may be promulgated by the Director.
(2) The Director shall within 90 days after the filing of such forms disapprove
any such
form if the benefits provided therein are not reasonable in relation to
the premium charged, or
if it contains provisions that are unjust, unfair, inequitable, misleading,
deceptive, or
encourage misrepresentation of the coverage, or are contrary to any provision
of this
Code, or any rule or regulation promulgated thereunder. The Director may,
upon written notice
within such waiting period to the company which made the filing, extend
such waiting period for
an additional 30 days. A filing shall be deemed to meet the requirements
of this Section unless
disapproved by the Director within the waiting period or the extension thereof.
(3) If the Director notifies the insurer that the form is disapproved,
the insurer shall not
issue or use such form. In such notice the Director shall specify the reason
for his disapproval.
The company may request a hearing on such disapproval within 30 days after
receipt of such
disapproval. The Director shall grant a hearing subsequent to the receipt
of such request.
(4) The Director may, at any time after a hearing held not less than 20
days after written
notice to the insurer, withdraw his approval of any such form on any ground set forth in
subsection (2) above. The written notice of such hearing shall state the
reason for the proposed
withdrawal.
(5) It is not lawful for the insurer to issue such forms or use them after
the effective
date of such withdrawal.
(6) The Director may at any time require the filing of the schedules of premium rates
used or to be used in connection with the specific policy filings required.
(7) The Director shall promulgate such rules and regulations as he may
deem necessary to
provide for the filing and review of premium rates schedules, and for the
disapproval of those
he may deem to be inadequate, excessive or unfairly discriminatory.
(8) Any order or final determination of the Director under the provisions
of this Section
shall be subject to judicial review.
(Source: P.A. 100-863, eff. 8-14-18.)
|
215 ILCS 5/Art. XXIV
(215 ILCS 5/Art. XXIV heading)
ARTICLE XXIV.
DIRECTOR OF INSURANCE, HEARINGS AND REVIEW
|
215 ILCS 5/401
(215 ILCS 5/401) (from Ch. 73, par. 1013)
Sec. 401. General powers of the director. The Director is charged with the rights, powers and duties appertaining
to the enforcement and execution of all the insurance laws of this State.
He shall have the power
(a) to make reasonable rules and regulations as may | | be necessary for making effective such laws;
|
|
(b) to conduct such investigations as may be
| | necessary to determine whether any person has violated any provision of such insurance laws;
|
|
(c) to conduct such examinations, investigations and
| | hearings in addition to those specifically provided for, as may be necessary and proper for the efficient administration of the insurance laws of this State; and
|
|
(d) to institute such actions or other lawful
| | proceedings as he may deem necessary for the enforcement of the Illinois Insurance Code or of any Order or action made or taken by him under this Code. The Attorney General, upon request of the Director, may proceed in the courts of this State to enforce an Order or decision in any court proceeding or in any administrative proceeding before the Director.
|
|
Whenever the Director is authorized or
required by law to consider some aspect of criminal history record
information for the purpose of carrying out his statutory powers and
responsibilities, then, upon request and payment of fees in conformance
with the requirements of Section 2605-400 of the Illinois State Police Law, the Illinois State Police is
authorized to furnish, pursuant to positive identification, such
information contained in State files as is necessary to meet the
requirements of such authorization or statutes.
(Source: P.A. 102-538, eff. 8-20-21.)
|
215 ILCS 5/401.1
(215 ILCS 5/401.1) (from Ch. 73, par. 1013.1)
Sec. 401.1.
(1) This Section applies to all companies and persons subject to
examination by the Director, or purporting to do insurance business in
this State, or in the process of organization with intent to do such
business therein, or for whom a Certificate of Authority is required for
the transaction of business, or whose Certificate of Authority is
revoked or suspended.
(2) Whenever it appears to the Director that any person or company
subject to this Code is conducting its business and affairs in such a
manner as to threaten to render it insolvent, or that it is in a
hazardous condition, or is conducting its business and affairs in a
manner which is hazardous to its policyholders, creditors or the public,
or that it has committed or engaged in, or is committing or engaging in,
any unlawful act, or any act, practice or transaction which under any
provision of this Code would constitute ground rendering the person
subject to conservation, liquidation or rehabilitation proceedings and
that irreparable loss and injury to the property and business of a
person or company has occurred or may occur unless the Director acts
immediately, the Director may, without notice, and before hearing, issue
and cause to be served upon such person or company an order requiring
such person or company to forthwith cease and desist from engaging
further in the acts, practices or transactions which are causing such
conduct, condition or ground to exist.
(3) At the same time an order is served pursuant to paragraph (2) of
this Section, the Director must issue and also serve upon the person or
company a notice of hearing to be held at a time and place fixed therein
which may not be less than 20 or more than 30 days after the service
thereof. The notice must contain a statement of the conduct, condition
or ground which the Director deems violative of the provisions of this
Section.
(4) If, after hearing as provided by paragraph (3) of this Section,
any of the statements as to conduct, conditions or grounds in the notice
are found to be true, the Director may make such order or orders as may
be reasonably necessary to correct, eliminate or remedy such conduct,
conditions or grounds.
(5) Any person or company subject to an order pursuant
to this Article is entitled to judicial review of the order in accordance
with the provisions of the Administrative Review Law.
(6) If any person or company violates or fails to comply with any
order of the Director or any part thereof which as to such person has
become final and is still in effect, the Director may, after a hearing
and notice at which it is determined that a violation of such order has
been committed, further order that:
(a) Such person shall forfeit and pay to the State of Illinois a sum
not to exceed $100 per day for each and every day that such violation or
failure to comply shall continue, but in no event to exceed a maximum
amount of $5,000. Such liability shall be enforced in an action brought
in any court of competent jurisdiction by the Director in the name of
the people of the State of Illinois; and
(b) Proceedings be commenced to revoke or suspend any license or
Certificate of Authority held by such person under this Code, in
accordance with the procedures provided therefor.
(7) The powers vested in the Director by this Section are additional
to any and all other powers and remedies vested in the Director by law,
and nothing herein shall be construed as requiring that the Director
shall employ the powers conferred herein instead of or as a condition
precedent to the exercise of any other power or remedy vested in the
Director.
(8) Any order or notice of the Director hereunder may be served on
any person, in the same manner and with the same effect as provided for
in civil actions in a Circuit Court of this State.
(Source: P.A. 82-783.)
|
215 ILCS 5/401.3 (215 ILCS 5/401.3) Sec. 401.3. Advisory council; powers and duties. There is created within the Department an advisory council to review and make recommendations to the Department regarding rules to be adopted with respect to continuing education courses for which the approval of the Department is required under the provisions of this Code. In addition, the advisory council shall make recommendations to the Department regarding rules with respect to course materials, curriculum, and credentials of instructors. The advisory council shall be comprised of 7 members appointed by the Director. One member shall be an educational instructor who has regularly provided educational offerings for more than 5 out of the last 10 years to individuals licensed under this Code. Three members shall be recommended by the leadership of 3 statewide trade organizations whose memberships are primarily composed of individuals licensed under this Code, none of which may come from the same organization. Three members shall represent a domestic company. The members' terms shall be 3 years or until their successors are appointed, and the expiration of their terms shall be staggered. No individual may serve more than 3 consecutive terms. The Director shall appoint an employee of the Department to serve as the chairperson of the advisory council, ex officio, without a vote. Four voting advisory council members shall constitute a quorum. A quorum is necessary for all advisory council decisions and recommendations.
(Source: P.A. 100-876, eff. 8-14-18.) |
215 ILCS 5/401.5
(215 ILCS 5/401.5)
Sec. 401.5.
Investigation of insurance law violations.
(a) If the Director of Insurance has cause to
believe that a person has engaged in, or is engaging in, an act,
activity, or practice that constitutes a business offense,
misdemeanor, or felony violation of the Illinois Insurance Code or related
insurance laws, he or she shall designate appropriate investigators or
agents to investigate the violations. For purposes of carrying
out investigations under this Section, the Department of Insurance is deemed a
criminal justice agency under all federal and State laws
and regulations, and as such shall have access to any information that concerns
or relates to a violation of the Illinois Insurance Code or
related insurance laws and that is available to criminal justice
agencies.
(b) The Director of Insurance may
transmit or receive written or oral information relating to possible violations
of the insurance laws of this State received by or from any other criminal
justice agencies, whether federal, State, or local, if, in the opinion of
the Director, the transmittal is appropriate and may further the
effective prevention of criminal activities.
(c) The Department of Insurance's papers, documents, reports,
or evidence relevant to the subject of an investigation under this Section
is not subject to public inspection for so long as the
Department deems reasonably necessary to complete the investigation, to protect
the person investigated
from unwarranted injury, or to be in the public interest. Further, the papers,
documents, reports, or evidence relevant to the subject of an
investigation under this Section is not subject to
subpoena until opened for public inspection by the Department, unless the
Department consents, or until, after notice to the Department and a hearing,
the court determines the Department would not be unnecessarily hindered by
the subpoena. No officer, agent, or employee of the
Department is subject to subpoena in civil actions by a court of this State to
testify concerning a matter of which
they have knowledge under a pending insurance fraud
investigation by the Department.
(d) No insurer, or employees or agents of an
insurer, are subject
to civil liability for libel or otherwise by virtue of furnishing information
required by the insurance laws of this State or required by the Department
of Insurance as a result of its investigation. No cause of action exists and
no liability may be imposed, either civil or criminal,
against the State, the Director, any officer, agent, or employee of the
Department of Insurance, or individuals employed or retained by the Director,
for an act or omission by them in the performance of a
power or duty authorized by this Section, unless the act or
omission
was performed in bad faith and with intent to injure a particular person.
(e) The powers vested in the Director by this Section are
additional to other powers and remedies vested in the Director
by law, and nothing in this Section shall be construed as
requiring that the Director shall employ the powers conferred in this
Section instead of or as a condition precedent to the exercise of
any other power or remedy vested in the Director. The Director may establish
systems and procedures for carrying out investigations under this Section as
are necessary to avoid the impairment or compromise of his or her authority
under this Section or any other law relating to the regulation of insurance.
(Source: P.A. 89-234, eff. 1-1-96.)
|
215 ILCS 5/402
(215 ILCS 5/402) (from Ch. 73, par. 1014)
Sec. 402.
Examinations, investigations and hearings.
(1) All examinations, investigations and hearings provided for by this
Code may be conducted either by the Director personally, or by one or more
of the actuaries, technical advisors, deputies, supervisors or examiners
employed or retained by the Department and designated by the Director for
such purpose. When necessary to supplement its examination procedures, the
Department may retain independent actuaries deemed competent by the
Director, independent certified public accountants, or qualified
examiners of insurance companies deemed competent by the Director, or any
combination of the foregoing, the cost of which shall be borne by the
company or person being examined. The Director may compensate independent
actuaries, certified public accountants and qualified examiners retained
for supplementing examination procedures in amounts not to exceed the
reasonable and customary charges for such services. The Director
may also accept as a part of the Department's examination of any company or
person (a) a report by an independent actuary deemed competent by the
Director or (b) a report of an audit made by an independent certified
public accountant. Neither those persons so designated nor any members of
their immediate families shall be officers of, connected with, or
financially interested in any company other than as policyholders, nor
shall they be financially interested in any other corporation or person
affected by the examination, investigation or hearing.
(2) All hearings provided for in this Code shall, unless otherwise
specially provided, be held at such time and place as shall be designated
in a notice which shall be given by the Director in writing to the person
or company whose interests are affected, at least 10 days before the date
designated therein. The notice shall state the subject of inquiry and the
specific charges, if any. The hearings shall be held in the City of
Springfield, the City of Chicago, or in the county where the principal
business address of the person or company affected is located.
(Source: P.A. 87-757.)
|
215 ILCS 5/403
(215 ILCS 5/403) (from Ch. 73, par. 1015)
Sec. 403.
Power to subpoena and examine witnesses.
(1) In the conduct of any examination, investigation or hearing provided
for by this Code, the Director or other officer designated by him or her to
conduct the same, shall have power to compel the attendance of any person
by subpoena, to administer oaths and to examine any person under oath
concerning the business, conduct or affairs of any company or person
subject to the provisions of this Code, and in connection therewith to
require the production of any books, records or papers relevant to the
inquiry.
(2) If a person subpoenaed to attend such inquiry fails to obey the
command of the subpoena without reasonable excuse, or if a person in
attendance upon such inquiry shall, without reasonable cause, refuse to be
sworn or to be examined or to answer a question or to produce a book or
paper when ordered to do so by any officer conducting such inquiry, or if
any person fails to perform any act required hereunder to be performed,
he or she shall be required to pay a penalty of not more than $2,000
to be recovered in the name of the People of the State of Illinois by the
State's Attorney
of the county in which the violation occurs, and the penalty so recovered
shall be paid into the county treasury.
(3) When any person neglects or refuses without reasonable cause to obey
a subpoena issued by the Director, or refuses without reasonable cause to
testify, to be sworn or to produce any book or paper described in the
subpoena, the Director may file a petition against such person in the
circuit court of the county in which the testimony is desired to be or has
been taken or has been attempted to be taken, briefly setting forth the
fact of such refusal or neglect and attaching a copy of the subpoena and
the return of service thereon and applying for an order requiring such
person to attend, testify or produce the books or papers before the
Director or his or her actuary, supervisor, deputy or examiner, at such
time or place as may be specified in such order. Any circuit court of this
State, upon the filing of such petition, either before or after
notice to such person, may, in the judicial discretion of such court, order
the attendance of such person, the production of books
and papers and the giving of testimony before the Director or any of his
or her actuaries, supervisors, deputies or examiners. If such person shall fail or
refuse to obey the order of the court and it shall appear to the court that
the failure or refusal of such person to obey its order is wilful, and
without lawful excuse, the court shall punish such person by fine or
imprisonment in the county jail, or both, as the nature of the case may
require, as is now, or as may hereafter be lawful for the court to do in
cases of contempt of court.
(4) The fees of witnesses for attendance and travel shall be the same as
the fees of witnesses before the circuit courts of this State. When a
witness is subpoenaed by or testifies at the instance of the Director or
other officer designated by him or her, such fees shall be paid in the
same manner as other expenses of the Department. When a witness is subpoenaed
or
testifies at the instance of any other party to any such proceeding, the
cost of the subpoena or subpoenas duces tecum and the fee of the witness
shall be borne by the party at whose instance a witness is summoned. In
such case, the Department in its discretion, may require a deposit to cover
the cost of such service and witness fees.
(Source: P.A. 93-32, eff. 7-1-03.)
|
215 ILCS 5/403A
(215 ILCS 5/403A) (from Ch. 73, par. 1015A)
Sec. 403A.
Violations; Notice of Apparent Liability; Limitation
of Forfeiture Liability.
(1) Any company or person, agent or broker,
officer or director and any other person subject to this Code and as may
be defined in Section 2 of this Code, who willfully or repeatedly fails
to observe or who otherwise violates any of the provisions of this Code
or any rule or regulation promulgated by the Director under authority
of this Code or any final order of the Director entered under the authority
of this Code shall by civil penalty forfeit to the State of Illinois a sum
not to exceed $2,000. Each day during which a violation occurs
constitutes
a separate offense. The civil penalty provided for in this Section shall
apply only to those Sections of this Code or administrative regulations
thereunder that do not otherwise provide for a monetary civil penalty.
(2) No forfeiture liability under paragraph (1) of this Section
may attach unless a written notice of apparent liability has been issued
by the Director and received by the respondent, or the Director sends written
notice of apparent liability by registered or certified mail, return receipt
requested, to the last known address of the respondent. Any respondent so
notified must be granted an opportunity to request a
hearing within 10 days from receipt of notice, or to show in writing,
why he should not be held liable. A notice issued under this Section must
set forth the date, facts and nature of the act or omission with which the
respondent is charged and must specifically identify the particular
provision of the Code, rule, regulation or order of which a violation is
charged.
(3) No forfeiture liability under paragraph (1) of this Section
may attach for any violation occurring more than 2 years prior to the date
of issuance of the notice of apparent liability and in no event may the total
civil penalty forfeiture imposed for the acts or omissions set forth in any
one notice of apparent liability exceed $500,000.
(4) The civil penalty forfeitures provided for in this Section
are payable to the General Revenue Fund of the State of Illinois, and
may be recovered in a civil suit in the name of the State of Illinois brought
in the Circuit Court in Sangamon County, or in the Circuit Court of the
county where the respondent is domiciled or has its principal operating
office.
(5) In any case where the Director issues a notice of apparent
liability looking toward the imposition of a civil penalty forfeiture
under this Section, that fact may not be used in any other proceeding before
the Director to the prejudice of the respondent to whom the notice was issued,
unless (a) the civil penalty forfeiture has been paid, or (b) a court has
ordered payment of the civil penalty
forfeiture and that order has become final.
(Source: P.A. 93-32, eff. 7-1-03.)
|
215 ILCS 5/404
(215 ILCS 5/404) (from Ch. 73, par. 1016)
Sec. 404. Office of Director; a public office; destruction or
disposal of records, papers, documents, and memoranda.
(1)(a) The office of the Director shall be a public office and the
records,
books, and papers thereof on file
therein, except those records
or documents containing or disclosing any analysis, opinion, calculation,
ratio, recommendation, advice, viewpoint, or estimation by any Department staff
regarding the financial or market condition of an insurer not otherwise made
part of the public record by the Director,
shall be accessible to the
inspection of the public, except as the Director, for good reason, may
decide otherwise, or except as may be otherwise provided in this Code or as otherwise provided in Section 7 of the Freedom of Information Act.
(b) Except where another provision of this Code expressly prohibits a
disclosure of confidential information to the specific officials or
organizations described in this subsection, the Director may disclose or share
any confidential records or information in his custody and control with any
insurance regulatory officials of any state or country, with the law
enforcement officials of this State, any other state, or the federal
government, or with the National Association of Insurance Commissioners, upon
the written agreement of the official or organization receiving the information
to hold the information or records confidential and in a manner consistent with
this Code.
(c) The Director shall maintain as confidential any records or
information received from the National Association of Insurance Commissioners
or insurance regulatory officials of other states which is confidential in that
other jurisdiction.
(2) Upon the filing of the examination to which they relate, the Director
is authorized to destroy or otherwise dispose of all working papers relative
to any company which has been examined at any time prior to that last
examination by the Department, so that in such circumstances only current
working papers of that last examination may be retained by the Department.
(3) Five years after the conclusion of the transactions to
which they relate, the Director is authorized to destroy or otherwise
dispose of all books, records, papers, memoranda and correspondence
directly related to consumer complaints or inquiries.
(4) Two years after the conclusion of the transactions to which they
relate, the Director is authorized to destroy or otherwise dispose of all
books, records, papers, memoranda, and correspondence directly related to
all void, obsolete, or superseded rate filings and schedules required to be
filed by statute; and all individual company rating experience data and all
records, papers, documents and memoranda in the possession of the Director
relating thereto.
(5) Five years after the conclusion of the transactions to which
they relate, the Director is authorized to destroy or otherwise dispose
of all examination reports of companies made by the insurance supervisory
officials of states other than Illinois; applications, requisitions, and
requests for licenses; all records of hearings; and all similar records,
papers, documents, and memoranda in the possession of the Director.
(6) Ten years after the conclusion of the transactions to which they
relate, the Director is authorized to destroy or otherwise dispose of all
official correspondence of foreign and alien companies, all foreign
companies' and alien companies' annual statements, valuation reports, tax
reports, and all similar records, papers, documents and memoranda in the
possession of the Director.
(7) Whenever any records, papers, documents or memoranda are
destroyed or otherwise disposed of pursuant to the provisions of this
section, the Director shall execute and file in a separate, permanent
office file a certificate listing and setting forth by summary
description the records, papers, documents or memoranda so destroyed or
otherwise disposed of, and the Director may, in his discretion, preserve
copies of any such records, papers, documents or memoranda by means of
microfilming or photographing the same.
(8) This Section shall apply to records, papers, documents, and
memoranda presently in the possession of the Director as well as to
records, papers, documents, and memoranda hereafter coming into his
possession.
(Source: P.A. 97-1004, eff. 8-17-12.)
|
215 ILCS 5/404.1
(215 ILCS 5/404.1) (from Ch. 73, par. 1016.1)
Sec. 404.1.
Safekeeping of deposits.
The Director may maintain with
a corporation qualified to administer trusts in this State under the
Corporate Fiduciary Act for the securities deposited with the
Director, a limited agency, custodial, or depository account, or other type
of account for the safekeeping of those securities, and for collecting the
income from those securities and providing supportive accounting services
relating to such safekeeping and collection. Such a corporation, in
safekeeping
such securities, shall have all the powers, rights, duties and responsibilities
that it has for holding securities in its fiduciary accounts under the
Securities in Fiduciary Accounts Act.
The Director shall arrange with any depository institution that has been
authorized to accept and execute trusts to provide for
collateralization of any cash accounts resulting from the failure of any
depositing company to give instruction regarding the investment of any such
cash amounts as provided for by Section 6 of the Public Funds Investment Act.
(Source: P.A. 93-477, eff. 1-1-04.)
|
215 ILCS 5/405
(215 ILCS 5/405) (from Ch. 73, par. 1017)
Sec. 405.
Certificates and certified copies as evidence.
All certificates issued by the Director in accordance with the
provisions of the insurance laws and all copies of documents filed in his
office in accordance with the provisions of this Code when certified by
him, shall be taken and received in all courts, public offices, and
official bodies as prima facie evidence of the facts therein stated. A
certificate by the Director under the seal of the Department, as to the
existence or non-existence of the facts relating to companies which would
not appear from a certified copy of any of the foregoing documents or
certificates shall be taken and received in all courts, public offices, and
official bodies as prima facie evidence of the existence or non-existence
of the facts therein stated.
(Source: Laws 1937, p. 696.)
|
215 ILCS 5/406
(215 ILCS 5/406) (from Ch. 73, par. 1018)
Sec. 406.
Annual
report.
The Director shall report annually, or oftener at the request of the
Governor, to the Governor his official transactions, and shall include in
such report abstracts of the annual statements of the several companies and
an exhibit of the financial condition and business transactions of the said
companies as disclosed by official examinations of the same or by their
annual statements. He shall also include therein a statement of the
receipts and expenditures of the Department for the preceding year and such
other information and recommendations relative to insurance and the
insurance laws of the State as he shall deem proper.
(Source: Laws 1937, p. 696.)
|
215 ILCS 5/407
(215 ILCS 5/407) (from Ch. 73, par. 1019)
Sec. 407.
Court review of orders and decisions.
Except as to those
orders or decisions of the Director to make good an impairment of capital
or surplus or a deficiency in the amount of admitted assets, the provisions
of the Administrative Review Law, and all amendments and modifications
thereof, and the rules adopted pursuant thereto, shall apply to and govern
all proceedings for the judicial review of final administrative decisions
of the Department. The term "administrative decision" is defined as in
Section 3-101 of the Code of Civil Procedure.
The Department shall not be required to certify any record to the court
or file any answer in court or otherwise appear in any court in a judicial
review proceeding, unless there is filed in the court with the complaint
a receipt from the Department acknowledging payment of the costs of furnishing
and certifying the record, which costs shall be computed at the rate of $1
per page of such record. Failure on the part of the plaintiff to file such
receipt in Court shall be grounds for dismissal of the action.
(Source: P.A. 84-989.)
|
215 ILCS 5/407.1
(215 ILCS 5/407.1) (from Ch. 73, par. 1019.1)
Sec. 407.1.
The provisions of "The Illinois Administrative
Procedure Act", as now or hereafter amended, are hereby
expressly adopted and incorporated herein as though a part
of this Act, and shall apply to all administrative rules
and procedures of the Department of Insurance under this Act.
(Source: P.A. 80-960.)
|
215 ILCS 5/407.2
(215 ILCS 5/407.2) (from Ch. 73, par. 1019.2)
Sec. 407.2.
(1) When any person or company has a license or certificate of authority
under this Code and knowingly fails or refuses to comply with a lawful
Order of the Director, entered after notice and hearing, within the period
of time specified in the Order, the Director may, in addition to any other
penalty or authority provided, refuse to renew or revoke the license or
certificate of authority of such person or company, or may suspend the
license or certificate of authority of such person or company until
compliance with such order has been obtained.
(2) When any person or company has a license or certificate of authority
under this Code and knowingly fails or refuses to comply with any provision
of this Code, the Director may, after notice and hearing, in addition to
any other penalty provided, refuse to renew or revoke the license or
certificate of authority of such person or company, or may suspend the
license or certificate of authority of such person or company, until
compliance with such provision of the Code has been obtained.
(3) No suspension or revocation under this Section may become effective
until 5 days from the date that the Notice of suspension or revocation has
been personally delivered or delivered by registered or certified mail to
the company or person. A suspension or revocation under this Section is
stayed upon the filing, by the company or person, of a petition for
judicial review under the Administrative Review Law.
(Source: P.A. 82-783.)
|
215 ILCS 5/Art. XXV
(215 ILCS 5/Art. XXV heading)
ARTICLE XXV.
FEES, CHARGES AND TAXES
|
215 ILCS 5/408
(215 ILCS 5/408) (from Ch. 73, par. 1020)
(Text of Section before amendment by P.A. 103-75)
Sec. 408. Fees and charges.
(1) The Director shall charge, collect and
give proper acquittances for the payment of the following fees and charges:
(a) For filing all documents submitted for the | | incorporation or organization or certification of a domestic company, except for a fraternal benefit society, $2,000.
|
|
(b) For filing all documents submitted for the
| | incorporation or organization of a fraternal benefit society, $500.
|
|
(c) For filing amendments to articles of
| | incorporation and amendments to declaration of organization, except for a fraternal benefit society, a mutual benefit association, a burial society or a farm mutual, $200.
|
|
(d) For filing amendments to articles of
| | incorporation of a fraternal benefit society, a mutual benefit association or a burial society, $100.
|
|
(e) For filing amendments to articles of
| | incorporation of a farm mutual, $50.
|
|
(f) For filing bylaws or amendments thereto, $50.
(g) For filing agreement of merger or consolidation:
(i) for a domestic company, except for a
| | fraternal benefit society, a mutual benefit association, a burial society, or a farm mutual, $2,000.
|
|
(ii) for a foreign or alien company, except for a
| | fraternal benefit society, $600.
|
|
(iii) for a fraternal benefit society, a mutual
| | benefit association, a burial society, or a farm mutual, $200.
|
|
(h) For filing agreements of reinsurance by a
| |
(i) For filing all documents submitted by a foreign
| | or alien company to be admitted to transact business or accredited as a reinsurer in this State, except for a fraternal benefit society, $5,000.
|
|
(j) For filing all documents submitted by a foreign
| | or alien fraternal benefit society to be admitted to transact business in this State, $500.
|
|
(k) For filing declaration of withdrawal of a foreign
| |
(l) For filing annual statement by a domestic
| | company, except a fraternal benefit society, a mutual benefit association, a burial society, or a farm mutual, $200.
|
|
(m) For filing annual statement by a domestic
| | fraternal benefit society, $100.
|
|
(n) For filing annual statement by a farm mutual, a
| | mutual benefit association, or a burial society, $50.
|
|
(o) For issuing a certificate of authority or renewal
| | thereof except to a foreign fraternal benefit society, $400.
|
|
(p) For issuing a certificate of authority or renewal
| | thereof to a foreign fraternal benefit society, $200.
|
|
(q) For issuing an amended certificate of authority,
| |
(r) For each certified copy of certificate of
| |
(s) For each certificate of deposit, or valuation, or
| | compliance or surety certificate, $20.
|
|
(t) For copies of papers or records per page, $1.
(u) For each certification to copies of papers or
| |
(v) For multiple copies of documents or certificates
| | listed in subparagraphs (r), (s), and (u) of paragraph (1) of this Section, $10 for the first copy of a certificate of any type and $5 for each additional copy of the same certificate requested at the same time, unless, pursuant to paragraph (2) of this Section, the Director finds these additional fees excessive.
|
|
(w) For issuing a permit to sell shares or increase
| |
(i) in connection with a public stock offering,
| |
(ii) in any other case, $100.
(x) For issuing any other certificate required or
| | permissible under the law, $50.
|
|
(y) For filing a plan of exchange of the stock of a
| | domestic stock insurance company, a plan of demutualization of a domestic mutual company, or a plan of reorganization under Article XII, $2,000.
|
|
(z) For filing a statement of acquisition of a
| | domestic company as defined in Section 131.4 of this Code, $2,000.
|
|
(aa) For filing an agreement to purchase the business
| | of an organization authorized under the Dental Service Plan Act or the Voluntary Health Services Plans Act or of a health maintenance organization or a limited health service organization, $2,000.
|
|
(bb) For filing a statement of acquisition of a
| | foreign or alien insurance company as defined in Section 131.12a of this Code, $1,000.
|
|
(cc) For filing a registration statement as required
| | in Sections 131.13 and 131.14, the notification as required by Sections 131.16, 131.20a, or 141.4, or an agreement or transaction required by Sections 124.2(2), 141, 141a, or 141.1, $200.
|
|
(dd) For filing an application for licensing of:
(i) a religious or charitable risk pooling trust
| | or a workers' compensation pool, $1,000;
|
|
(ii) a workers' compensation service company,
| |
(iii) a self-insured automobile fleet, $200; or
(iv) a renewal of or amendment of any license
| | issued pursuant to (i), (ii), or (iii) above, $100.
|
|
(ee) For filing articles of incorporation for a
| | syndicate to engage in the business of insurance through the Illinois Insurance Exchange, $2,000.
|
|
(ff) For filing amended articles of incorporation for
| | a syndicate engaged in the business of insurance through the Illinois Insurance Exchange, $100.
|
|
(gg) For filing articles of incorporation for a
| | limited syndicate to join with other subscribers or limited syndicates to do business through the Illinois Insurance Exchange, $1,000.
|
|
(hh) For filing amended articles of incorporation for
| | a limited syndicate to do business through the Illinois Insurance Exchange, $100.
|
|
(ii) For a permit to solicit subscriptions to a
| | syndicate or limited syndicate, $100.
|
|
(jj) For the filing of each form as required in
| | Section 143 of this Code, $50 per form. Informational and advertising filings shall be $25 per filing. The fee for advisory and rating organizations shall be $200 per form.
|
|
(i) For the purposes of the form filing fee,
| | filings made on insert page basis will be considered one form at the time of its original submission. Changes made to a form subsequent to its approval shall be considered a new filing.
|
|
(ii) Only one fee shall be charged for a form,
| | regardless of the number of other forms or policies with which it will be used.
|
|
(iii) Fees charged for a policy filed as it will
| | be issued regardless of the number of forms comprising that policy shall not exceed $1,500. For advisory or rating organizations, fees charged for a policy filed as it will be issued regardless of the number of forms comprising that policy shall not exceed $2,500.
|
|
(iv) The Director may by rule exempt forms from
| |
(kk) For filing an application for licensing of a
| | reinsurance intermediary, $500.
|
|
(ll) For filing an application for renewal of a
| | license of a reinsurance intermediary, $200.
|
|
(mm) For filing a plan of division of a domestic
| | stock company under Article IIB, $10,000.
|
| (nn) For filing all documents submitted by a
| | foreign or alien company to be a certified reinsurer in this State, except for a fraternal benefit society, $1,000.
|
| (oo) For filing a renewal by a foreign or alien
| | company to be a certified reinsurer in this State, except for a fraternal benefit society, $400.
|
| (pp) For filing all documents submitted by a
| | reinsurer domiciled in a reciprocal jurisdiction, $1,000.
|
| (qq) For filing a renewal by a reinsurer domiciled
| | in a reciprocal jurisdiction, $400.
|
| (rr) For registering a captive management company
| | (2) When printed copies or numerous copies of the same paper or records
are furnished or certified, the Director may reduce such fees for copies
if he finds them excessive. He may, when he considers it in the public
interest, furnish without charge to state insurance departments and persons
other than companies, copies or certified copies of reports of examinations
and of other papers and records.
(3) The expenses incurred in any performance
examination authorized by law shall be paid by the company or person being
examined. The charge shall be reasonably related to the cost of the
examination including but not limited to compensation of examiners,
electronic data processing costs, supervision and preparation of an
examination report and lodging and travel expenses.
All lodging and travel expenses shall be in accord
with the applicable travel regulations as published by the Department of
Central Management Services and approved by the Governor's Travel Control
Board, except that out-of-state lodging and travel expenses related to
examinations authorized under Section 132 shall be in accordance with
travel rates prescribed under paragraph 301-7.2 of the Federal Travel
Regulations, 41 C.F.R. 301-7.2, for reimbursement of subsistence expenses
incurred during official travel. All lodging and travel expenses may be reimbursed directly upon authorization of the
Director. With the exception of the
direct reimbursements authorized by the
Director, all performance examination charges collected by the
Department shall be paid
to the Insurance Producer Administration Fund,
however, the electronic data processing costs
incurred by the Department in the performance of any examination shall be
billed directly to the company being examined for payment to the Technology Management
Revolving Fund.
(4) At the time of any service of process on the Director
as attorney for such service, the Director shall charge and collect the
sum of $40, which may be recovered as taxable costs by
the party to the suit or action causing such service to be made if he prevails
in such suit or action.
(5) (a) The costs incurred by the Department of Insurance
in conducting any hearing authorized by law shall be assessed against the
parties to the hearing in such proportion as the Director of Insurance may
determine upon consideration of all relevant circumstances including: (1)
the nature of the hearing; (2) whether the hearing was instigated by, or
for the benefit of a particular party or parties; (3) whether there is a
successful party on the merits of the proceeding; and (4) the relative levels
of participation by the parties.
(b) For purposes of this subsection (5) costs incurred shall
mean the hearing officer fees, court reporter fees, and travel expenses
of Department of Insurance officers and employees; provided however, that
costs incurred shall not include hearing officer fees or court reporter
fees unless the Department has retained the services of independent
contractors or outside experts to perform such functions.
(c) The Director shall make the assessment of costs incurred as part of
the final order or decision arising out of the proceeding; provided, however,
that such order or decision shall include findings and conclusions in support
of the assessment of costs. This subsection (5) shall not be construed as
permitting the payment of travel expenses unless calculated in accordance
with the applicable travel regulations of the Department
of Central Management Services, as approved by the Governor's Travel Control
Board. The Director as part of such order or decision shall require all
assessments for hearing officer fees and court reporter fees, if any, to
be paid directly to the hearing officer or court reporter by the party(s)
assessed for such costs. The assessments for travel expenses of Department
officers and employees shall be reimbursable to the
Director of Insurance for
deposit to the fund out of which those expenses had been paid.
(d) The provisions of this subsection (5) shall apply in the case of any
hearing conducted by the Director of Insurance not otherwise specifically
provided for by law.
(6) The Director shall charge and collect an annual financial
regulation fee from every domestic company for examination and analysis of
its financial condition and to fund the internal costs and expenses of the
Interstate Insurance Receivership Commission as may be allocated to the State
of Illinois and companies doing an insurance business in this State pursuant to
Article X of the Interstate Insurance Receivership Compact. The fee shall be
the greater fixed amount based upon
the combination of nationwide direct premium income and
nationwide reinsurance
assumed premium
income or upon admitted assets calculated under this subsection as follows:
(a) Combination of nationwide direct premium income
| | and nationwide reinsurance assumed premium.
|
|
(i) $150, if the premium is less than $500,000
| | and there is no reinsurance assumed premium;
|
|
(ii) $750, if the premium is $500,000 or more,
| | but less than $5,000,000 and there is no reinsurance assumed premium; or if the premium is less than $5,000,000 and the reinsurance assumed premium is less than $10,000,000;
|
|
(iii) $3,750, if the premium is less than
| | $5,000,000 and the reinsurance assumed premium is $10,000,000 or more;
|
|
(iv) $7,500, if the premium is $5,000,000 or
| | more, but less than $10,000,000;
|
|
(v) $18,000, if the premium is $10,000,000 or
| | more, but less than $25,000,000;
|
|
(vi) $22,500, if the premium is $25,000,000 or
| | more, but less than $50,000,000;
|
|
(vii) $30,000, if the premium is $50,000,000 or
| | more, but less than $100,000,000;
|
|
(viii) $37,500, if the premium is $100,000,000 or
| |
(b) Admitted assets.
(i) $150, if admitted assets are less than
| |
(ii) $750, if admitted assets are $1,000,000 or
| | more, but less than $5,000,000;
|
|
(iii) $3,750, if admitted assets are $5,000,000
| | or more, but less than $25,000,000;
|
|
(iv) $7,500, if admitted assets are $25,000,000
| | or more, but less than $50,000,000;
|
|
(v) $18,000, if admitted assets are $50,000,000
| | or more, but less than $100,000,000;
|
|
(vi) $22,500, if admitted assets are $100,000,000
| | or more, but less than $500,000,000;
|
|
(vii) $30,000, if admitted assets are
| | $500,000,000 or more, but less than $1,000,000,000;
|
|
(viii) $37,500, if admitted assets are
| |
(c) The sum of financial regulation fees charged to
| | the domestic companies of the same affiliated group shall not exceed $250,000 in the aggregate in any single year and shall be billed by the Director to the member company designated by the group.
|
|
(7) The Director shall charge and collect an annual financial regulation
fee from every foreign or alien company, except fraternal benefit
societies, for the
examination and analysis of its financial condition and to fund the internal
costs and expenses of the Interstate Insurance Receivership Commission as may
be allocated to the State of Illinois and companies doing an insurance business
in this State pursuant to Article X of the Interstate Insurance Receivership
Compact.
The fee shall be a fixed amount based upon Illinois direct premium income
and nationwide reinsurance assumed premium income in accordance with the
following schedule:
(a) $150, if the premium is less than $500,000 and
| | there is no reinsurance assumed premium;
|
|
(b) $750, if the premium is $500,000 or more, but
| | less than $5,000,000 and there is no reinsurance assumed premium; or if the premium is less than $5,000,000 and the reinsurance assumed premium is less than $10,000,000;
|
|
(c) $3,750, if the premium is less than $5,000,000
| | and the reinsurance assumed premium is $10,000,000 or more;
|
|
(d) $7,500, if the premium is $5,000,000 or more, but
| |
(e) $18,000, if the premium is $10,000,000 or more,
| | but less than $25,000,000;
|
|
(f) $22,500, if the premium is $25,000,000 or more,
| | but less than $50,000,000;
|
|
(g) $30,000, if the premium is $50,000,000 or more,
| | but less than $100,000,000;
|
|
(h) $37,500, if the premium is $100,000,000 or more.
The sum of financial regulation fees under this subsection (7)
charged to the foreign or alien companies within the same affiliated group
shall not exceed $250,000 in the aggregate in any single year
and shall be
billed by the Director to the member company designated by the group.
(8) Beginning January 1, 1992, the financial regulation fees imposed
under subsections (6) and (7)
of this Section shall be paid by each company or domestic affiliated group
annually. After January
1, 1994, the fee shall be billed by Department invoice
based upon the company's
premium income or admitted assets as shown in its annual statement for the
preceding calendar year. The invoice is due upon
receipt and must be paid no later than June 30 of each calendar year. All
financial
regulation fees collected by the Department shall be paid to the Insurance
Financial Regulation Fund. The Department may not collect financial
examiner per diem charges from companies subject to subsections (6) and (7)
of this Section undergoing financial examination
after June 30, 1992.
(9) In addition to the financial regulation fee required by this
Section, a company undergoing any financial examination authorized by law
shall pay the following costs and expenses incurred by the Department:
electronic data processing costs, the expenses authorized under Section 131.21
and
subsection (d) of Section 132.4 of this Code, and lodging and travel expenses.
Electronic data processing costs incurred by the Department in the
performance of any examination shall be billed directly to the company
undergoing examination for payment to the Technology Management Revolving
Fund. Except for direct reimbursements authorized by the Director or
direct payments made under Section 131.21 or subsection (d) of Section
132.4 of this Code, all financial regulation fees and all financial
examination charges collected by the Department shall be paid to the
Insurance Financial Regulation Fund.
All lodging and travel expenses shall be in accordance with applicable
travel regulations published by the Department of Central Management
Services and approved by the Governor's Travel Control Board, except that
out-of-state lodging and travel expenses related to examinations authorized
under Sections 132.1 through 132.7 shall be in accordance
with travel rates prescribed
under paragraph 301-7.2 of the Federal Travel Regulations, 41 C.F.R. 301-7.2,
for reimbursement of subsistence expenses incurred during official travel.
All lodging and travel expenses may be
reimbursed directly upon the authorization of the Director.
In the case of an organization or person not subject to the financial
regulation fee, the expenses incurred in any financial examination authorized
by law shall be paid by the organization or person being examined. The charge
shall be reasonably related to the cost of the examination including, but not
limited to, compensation of examiners and other costs described in this
subsection.
(10) Any company, person, or entity failing to make any payment of $150
or more as required under this Section shall be subject to the penalty and
interest provisions provided for in subsections (4) and (7)
of Section 412.
(11) Unless otherwise specified, all of the fees collected under this
Section shall be paid into the Insurance Financial Regulation Fund.
(12) For purposes of this Section:
(a) "Domestic company" means a company as defined in
| | Section 2 of this Code which is incorporated or organized under the laws of this State, and in addition includes a not-for-profit corporation authorized under the Dental Service Plan Act or the Voluntary Health Services Plans Act, a health maintenance organization, and a limited health service organization.
|
|
(b) "Foreign company" means a company as defined in
| | Section 2 of this Code which is incorporated or organized under the laws of any state of the United States other than this State and in addition includes a health maintenance organization and a limited health service organization which is incorporated or organized under the laws of any state of the United States other than this State.
|
|
(c) "Alien company" means a company as defined in
| | Section 2 of this Code which is incorporated or organized under the laws of any country other than the United States.
|
|
(d) "Fraternal benefit society" means a corporation,
| | society, order, lodge or voluntary association as defined in Section 282.1 of this Code.
|
|
(e) "Mutual benefit association" means a company,
| | association or corporation authorized by the Director to do business in this State under the provisions of Article XVIII of this Code.
|
|
(f) "Burial society" means a person, firm,
| | corporation, society or association of individuals authorized by the Director to do business in this State under the provisions of Article XIX of this Code.
|
|
(g) "Farm mutual" means a district, county and
| | township mutual insurance company authorized by the Director to do business in this State under the provisions of the Farm Mutual Insurance Company Act of 1986.
|
|
(Source: P.A. 102-775, eff. 5-13-22.)
(Text of Section after amendment by P.A. 103-75)
Sec. 408. Fees and charges.
(1) The Director shall charge, collect and
give proper acquittances for the payment of the following fees and charges:
(a) For filing all documents submitted for the
| | incorporation or organization or certification of a domestic company, except for a fraternal benefit society, $2,000.
|
|
(b) For filing all documents submitted for the
| | incorporation or organization of a fraternal benefit society, $500.
|
|
(c) For filing amendments to articles of
| | incorporation and amendments to declaration of organization, except for a fraternal benefit society, a mutual benefit association, a burial society or a farm mutual, $200.
|
|
(d) For filing amendments to articles of
| | incorporation of a fraternal benefit society, a mutual benefit association or a burial society, $100.
|
|
(e) For filing amendments to articles of
| | incorporation of a farm mutual, $50.
|
|
(f) For filing bylaws or amendments thereto, $50.
(g) For filing agreement of merger or consolidation:
(i) for a domestic company, except for a
| | fraternal benefit society, a mutual benefit association, a burial society, or a farm mutual, $2,000.
|
|
(ii) for a foreign or alien company, except for a
| | fraternal benefit society, $600.
|
|
(iii) for a fraternal benefit society, a mutual
| | benefit association, a burial society, or a farm mutual, $200.
|
|
(h) For filing agreements of reinsurance by a
| |
(i) For filing all documents submitted by a foreign
| | or alien company to be admitted to transact business or accredited as a reinsurer in this State, except for a fraternal benefit society, $5,000.
|
|
(j) For filing all documents submitted by a foreign
| | or alien fraternal benefit society to be admitted to transact business in this State, $500.
|
|
(k) For filing declaration of withdrawal of a foreign
| |
(l) For filing annual statement by a domestic
| | company, except a fraternal benefit society, a mutual benefit association, a burial society, or a farm mutual, $200.
|
|
(m) For filing annual statement by a domestic
| | fraternal benefit society, $100.
|
|
(n) For filing annual statement by a farm mutual, a
| | mutual benefit association, or a burial society, $50.
|
|
(o) For issuing a certificate of authority or renewal
| | thereof except to a foreign fraternal benefit society, $400.
|
|
(p) For issuing a certificate of authority or renewal
| | thereof to a foreign fraternal benefit society, $200.
|
|
(q) For issuing an amended certificate of authority,
| |
(r) For each certified copy of certificate of
| |
(s) For each certificate of deposit, or valuation, or
| | compliance or surety certificate, $20.
|
|
(t) For copies of papers or records per page, $1.
(u) For each certification to copies of papers or
| |
(v) For multiple copies of documents or certificates
| | listed in subparagraphs (r), (s), and (u) of paragraph (1) of this Section, $10 for the first copy of a certificate of any type and $5 for each additional copy of the same certificate requested at the same time, unless, pursuant to paragraph (2) of this Section, the Director finds these additional fees excessive.
|
|
(w) For issuing a permit to sell shares or increase
| |
(i) in connection with a public stock offering,
| |
(ii) in any other case, $100.
(x) For issuing any other certificate required or
| | permissible under the law, $50.
|
|
(y) For filing a plan of exchange of the stock of a
| | domestic stock insurance company, a plan of demutualization of a domestic mutual company, or a plan of reorganization under Article XII, $2,000.
|
|
(z) For filing a statement of acquisition of a
| | domestic company as defined in Section 131.4 of this Code, $2,000.
|
|
(aa) For filing an agreement to purchase the business
| | of an organization authorized under the Dental Service Plan Act or the Voluntary Health Services Plans Act or of a health maintenance organization or a limited health service organization, $2,000.
|
|
(bb) For filing a statement of acquisition of a
| | foreign or alien insurance company as defined in Section 131.12a of this Code, $1,000.
|
|
(cc) For filing a registration statement as required
| | in Sections 131.13 and 131.14, the notification as required by Sections 131.16, 131.20a, or 141.4, or an agreement or transaction required by Sections 124.2(2), 141, 141a, or 141.1, $200.
|
|
(dd) For filing an application for licensing of:
(i) a religious or charitable risk pooling trust
| | or a workers' compensation pool, $1,000;
|
|
(ii) a workers' compensation service company,
| |
(iii) a self-insured automobile fleet, $200; or
(iv) a renewal of or amendment of any license
| | issued pursuant to (i), (ii), or (iii) above, $100.
|
|
(ee) For filing articles of incorporation for a
| | syndicate to engage in the business of insurance through the Illinois Insurance Exchange, $2,000.
|
|
(ff) For filing amended articles of incorporation for
| | a syndicate engaged in the business of insurance through the Illinois Insurance Exchange, $100.
|
|
(gg) For filing articles of incorporation for a
| | limited syndicate to join with other subscribers or limited syndicates to do business through the Illinois Insurance Exchange, $1,000.
|
|
(hh) For filing amended articles of incorporation for
| | a limited syndicate to do business through the Illinois Insurance Exchange, $100.
|
|
(ii) For a permit to solicit subscriptions to a
| | syndicate or limited syndicate, $100.
|
|
(jj) For the filing of each form as required in
| | Section 143 of this Code, $50 per form. Informational and advertising filings shall be $25 per filing. The fee for advisory and rating organizations shall be $200 per form.
|
|
(i) For the purposes of the form filing fee,
| | filings made on insert page basis will be considered one form at the time of its original submission. Changes made to a form subsequent to its approval shall be considered a new filing.
|
|
(ii) Only one fee shall be charged for a form,
| | regardless of the number of other forms or policies with which it will be used.
|
|
(iii) Fees charged for a policy filed as it will
| | be issued regardless of the number of forms comprising that policy shall not exceed $1,500. For advisory or rating organizations, fees charged for a policy filed as it will be issued regardless of the number of forms comprising that policy shall not exceed $2,500.
|
|
(iv) The Director may by rule exempt forms from
| |
(kk) For filing an application for licensing of a
| | reinsurance intermediary, $500.
|
|
(ll) For filing an application for renewal of a
| | license of a reinsurance intermediary, $200.
|
|
(mm) For filing a plan of division of a domestic
| | stock company under Article IIB, $10,000.
|
| (nn) For filing all documents submitted by a
| | foreign or alien company to be a certified reinsurer in this State, except for a fraternal benefit society, $1,000.
|
| (oo) For filing a renewal by a foreign or alien
| | company to be a certified reinsurer in this State, except for a fraternal benefit society, $400.
|
| (pp) For filing all documents submitted by a
| | reinsurer domiciled in a reciprocal jurisdiction, $1,000.
|
| (qq) For filing a renewal by a reinsurer domiciled
| | in a reciprocal jurisdiction, $400.
|
| (rr) For registering a captive management company
| | (ss) For filing an insurance business transfer plan
| | under Article XLVII, $25,000.
|
| (2) When printed copies or numerous copies of the same paper or records
are furnished or certified, the Director may reduce such fees for copies
if he finds them excessive. He may, when he considers it in the public
interest, furnish without charge to state insurance departments and persons
other than companies, copies or certified copies of reports of examinations
and of other papers and records.
(3) The expenses incurred in any performance
examination authorized by law shall be paid by the company or person being
examined. The charge shall be reasonably related to the cost of the
examination including but not limited to compensation of examiners,
electronic data processing costs, supervision and preparation of an
examination report and lodging and travel expenses.
All lodging and travel expenses shall be in accord
with the applicable travel regulations as published by the Department of
Central Management Services and approved by the Governor's Travel Control
Board, except that out-of-state lodging and travel expenses related to
examinations authorized under Section 132 shall be in accordance with
travel rates prescribed under paragraph 301-7.2 of the Federal Travel
Regulations, 41 C.F.R. 301-7.2, for reimbursement of subsistence expenses
incurred during official travel. All lodging and travel expenses may be reimbursed directly upon authorization of the
Director. With the exception of the
direct reimbursements authorized by the
Director, all performance examination charges collected by the
Department shall be paid
to the Insurance Producer Administration Fund,
however, the electronic data processing costs
incurred by the Department in the performance of any examination shall be
billed directly to the company being examined for payment to the Technology Management
Revolving Fund.
(4) At the time of any service of process on the Director
as attorney for such service, the Director shall charge and collect the
sum of $40, which may be recovered as taxable costs by
the party to the suit or action causing such service to be made if he prevails
in such suit or action.
(5) (a) The costs incurred by the Department of Insurance
in conducting any hearing authorized by law shall be assessed against the
parties to the hearing in such proportion as the Director of Insurance may
determine upon consideration of all relevant circumstances including: (1)
the nature of the hearing; (2) whether the hearing was instigated by, or
for the benefit of a particular party or parties; (3) whether there is a
successful party on the merits of the proceeding; and (4) the relative levels
of participation by the parties.
(b) For purposes of this subsection (5) costs incurred shall
mean the hearing officer fees, court reporter fees, and travel expenses
of Department of Insurance officers and employees; provided however, that
costs incurred shall not include hearing officer fees or court reporter
fees unless the Department has retained the services of independent
contractors or outside experts to perform such functions.
(c) The Director shall make the assessment of costs incurred as part of
the final order or decision arising out of the proceeding; provided, however,
that such order or decision shall include findings and conclusions in support
of the assessment of costs. This subsection (5) shall not be construed as
permitting the payment of travel expenses unless calculated in accordance
with the applicable travel regulations of the Department
of Central Management Services, as approved by the Governor's Travel Control
Board. The Director as part of such order or decision shall require all
assessments for hearing officer fees and court reporter fees, if any, to
be paid directly to the hearing officer or court reporter by the party(s)
assessed for such costs. The assessments for travel expenses of Department
officers and employees shall be reimbursable to the
Director of Insurance for
deposit to the fund out of which those expenses had been paid.
(d) The provisions of this subsection (5) shall apply in the case of any
hearing conducted by the Director of Insurance not otherwise specifically
provided for by law.
(6) The Director shall charge and collect an annual financial
regulation fee from every domestic company for examination and analysis of
its financial condition and to fund the internal costs and expenses of the
Interstate Insurance Receivership Commission as may be allocated to the State
of Illinois and companies doing an insurance business in this State pursuant to
Article X of the Interstate Insurance Receivership Compact. The fee shall be
the greater fixed amount based upon
the combination of nationwide direct premium income and
nationwide reinsurance
assumed premium
income or upon admitted assets calculated under this subsection as follows:
(a) Combination of nationwide direct premium income
| | and nationwide reinsurance assumed premium.
|
|
(i) $150, if the premium is less than $500,000
| | and there is no reinsurance assumed premium;
|
|
(ii) $750, if the premium is $500,000 or more,
| | but less than $5,000,000 and there is no reinsurance assumed premium; or if the premium is less than $5,000,000 and the reinsurance assumed premium is less than $10,000,000;
|
|
(iii) $3,750, if the premium is less than
| | $5,000,000 and the reinsurance assumed premium is $10,000,000 or more;
|
|
(iv) $7,500, if the premium is $5,000,000 or
| | more, but less than $10,000,000;
|
|
(v) $18,000, if the premium is $10,000,000 or
| | more, but less than $25,000,000;
|
|
(vi) $22,500, if the premium is $25,000,000 or
| | more, but less than $50,000,000;
|
|
(vii) $30,000, if the premium is $50,000,000 or
| | more, but less than $100,000,000;
|
|
(viii) $37,500, if the premium is $100,000,000 or
| |
(b) Admitted assets.
(i) $150, if admitted assets are less than
| |
(ii) $750, if admitted assets are $1,000,000 or
| | more, but less than $5,000,000;
|
|
(iii) $3,750, if admitted assets are $5,000,000
| | or more, but less than $25,000,000;
|
|
(iv) $7,500, if admitted assets are $25,000,000
| | or more, but less than $50,000,000;
|
|
(v) $18,000, if admitted assets are $50,000,000
| | or more, but less than $100,000,000;
|
|
(vi) $22,500, if admitted assets are $100,000,000
| | or more, but less than $500,000,000;
|
|
(vii) $30,000, if admitted assets are
| | $500,000,000 or more, but less than $1,000,000,000;
|
|
(viii) $37,500, if admitted assets are
| |
(c) The sum of financial regulation fees charged to
| | the domestic companies of the same affiliated group shall not exceed $250,000 in the aggregate in any single year and shall be billed by the Director to the member company designated by the group.
|
|
(7) The Director shall charge and collect an annual financial regulation
fee from every foreign or alien company, except fraternal benefit
societies, for the
examination and analysis of its financial condition and to fund the internal
costs and expenses of the Interstate Insurance Receivership Commission as may
be allocated to the State of Illinois and companies doing an insurance business
in this State pursuant to Article X of the Interstate Insurance Receivership
Compact.
The fee shall be a fixed amount based upon Illinois direct premium income
and nationwide reinsurance assumed premium income in accordance with the
following schedule:
(a) $150, if the premium is less than $500,000 and
| | there is no reinsurance assumed premium;
|
|
(b) $750, if the premium is $500,000 or more, but
| | less than $5,000,000 and there is no reinsurance assumed premium; or if the premium is less than $5,000,000 and the reinsurance assumed premium is less than $10,000,000;
|
|
(c) $3,750, if the premium is less than $5,000,000
| | and the reinsurance assumed premium is $10,000,000 or more;
|
|
(d) $7,500, if the premium is $5,000,000 or more, but
| |
(e) $18,000, if the premium is $10,000,000 or more,
| | but less than $25,000,000;
|
|
(f) $22,500, if the premium is $25,000,000 or more,
| | but less than $50,000,000;
|
|
(g) $30,000, if the premium is $50,000,000 or more,
| | but less than $100,000,000;
|
|
(h) $37,500, if the premium is $100,000,000 or more.
The sum of financial regulation fees under this subsection (7)
charged to the foreign or alien companies within the same affiliated group
shall not exceed $250,000 in the aggregate in any single year
and shall be
billed by the Director to the member company designated by the group.
(8) Beginning January 1, 1992, the financial regulation fees imposed
under subsections (6) and (7)
of this Section shall be paid by each company or domestic affiliated group
annually. After January
1, 1994, the fee shall be billed by Department invoice
based upon the company's
premium income or admitted assets as shown in its annual statement for the
preceding calendar year. The invoice is due upon
receipt and must be paid no later than June 30 of each calendar year. All
financial
regulation fees collected by the Department shall be paid to the Insurance
Financial Regulation Fund. The Department may not collect financial
examiner per diem charges from companies subject to subsections (6) and (7)
of this Section undergoing financial examination
after June 30, 1992.
(9) In addition to the financial regulation fee required by this
Section, a company undergoing any financial examination authorized by law
shall pay the following costs and expenses incurred by the Department:
electronic data processing costs, the expenses authorized under Section 131.21
and
subsection (d) of Section 132.4 of this Code, and lodging and travel expenses.
Electronic data processing costs incurred by the Department in the
performance of any examination shall be billed directly to the company
undergoing examination for payment to the Technology Management Revolving
Fund. Except for direct reimbursements authorized by the Director or
direct payments made under Section 131.21 or subsection (d) of Section
132.4 of this Code, all financial regulation fees and all financial
examination charges collected by the Department shall be paid to the
Insurance Financial Regulation Fund.
All lodging and travel expenses shall be in accordance with applicable
travel regulations published by the Department of Central Management
Services and approved by the Governor's Travel Control Board, except that
out-of-state lodging and travel expenses related to examinations authorized
under Sections 132.1 through 132.7 shall be in accordance
with travel rates prescribed
under paragraph 301-7.2 of the Federal Travel Regulations, 41 C.F.R. 301-7.2,
for reimbursement of subsistence expenses incurred during official travel.
All lodging and travel expenses may be
reimbursed directly upon the authorization of the Director.
In the case of an organization or person not subject to the financial
regulation fee, the expenses incurred in any financial examination authorized
by law shall be paid by the organization or person being examined. The charge
shall be reasonably related to the cost of the examination including, but not
limited to, compensation of examiners and other costs described in this
subsection.
(10) Any company, person, or entity failing to make any payment of $150
or more as required under this Section shall be subject to the penalty and
interest provisions provided for in subsections (4) and (7)
of Section 412.
(11) Unless otherwise specified, all of the fees collected under this
Section shall be paid into the Insurance Financial Regulation Fund.
(12) For purposes of this Section:
(a) "Domestic company" means a company as defined in
| | Section 2 of this Code which is incorporated or organized under the laws of this State, and in addition includes a not-for-profit corporation authorized under the Dental Service Plan Act or the Voluntary Health Services Plans Act, a health maintenance organization, and a limited health service organization.
|
|
(b) "Foreign company" means a company as defined in
| | Section 2 of this Code which is incorporated or organized under the laws of any state of the United States other than this State and in addition includes a health maintenance organization and a limited health service organization which is incorporated or organized under the laws of any state of the United States other than this State.
|
|
(c) "Alien company" means a company as defined in
| | Section 2 of this Code which is incorporated or organized under the laws of any country other than the United States.
|
|
(d) "Fraternal benefit society" means a corporation,
| | society, order, lodge or voluntary association as defined in Section 282.1 of this Code.
|
|
(e) "Mutual benefit association" means a company,
| | association or corporation authorized by the Director to do business in this State under the provisions of Article XVIII of this Code.
|
|
(f) "Burial society" means a person, firm,
| | corporation, society or association of individuals authorized by the Director to do business in this State under the provisions of Article XIX of this Code.
|
|
(g) "Farm mutual" means a district, county and
| | township mutual insurance company authorized by the Director to do business in this State under the provisions of the Farm Mutual Insurance Company Act of 1986.
|
|
(Source: P.A. 102-775, eff. 5-13-22; 103-75, eff. 1-1-25.)
|
215 ILCS 5/408.1
(215 ILCS 5/408.1) (from Ch. 73, par. 1020.1)
Sec. 408.1.
Fee for valuation of life insurance policies.
Upon the effective date of this amendatory Act of 1998, all actions to
collect life insurance policy valuation fees or to transfer such fees to the
General Revenue Fund from any protest account established under the State
Officers and Employees Money Disposition Act shall cease and any such protested
life insurance policy valuation fee payments shall be returned to the taxpayer
who initiated the protest.
(Source: P.A. 90-583, eff. 5-29-98.)
|
215 ILCS 5/408.2
(215 ILCS 5/408.2) (from Ch. 73, par. 1020.2)
Sec. 408.2. Statistical services. Any public record, or any data obtained
by the Department of Insurance, which is subject to public inspection or
copying and which is maintained on a computer processible medium, may be
furnished in a computer processed or computer processible medium upon the
written request of any applicant and the payment of a reasonable fee
established by the Director sufficient to cover the total cost of the
Department for processing, maintaining and generating such computer
processible records or data, except to the extent of any salaries or
compensation of Department officers or employees.
The Director of Insurance is specifically authorized to contract with
members of the public at large, enter waiver agreements, or otherwise enter
written agreements for the purpose of assuring public access to the
Department's computer processible records or data, or for the purpose of
restricting, controlling or limiting such access where necessary to protect
the confidentiality of individuals, companies or other entities identified
by such documents.
All fees collected by the Director under this Section 408.2 shall be
deposited in the Technology Management Revolving Fund and credited to the
account of the Department of Insurance. Any surplus funds remaining in
such account at the close of any fiscal year shall be delivered to the
State Treasurer for deposit in the Insurance Financial Regulation Fund.
(Source: P.A. 100-23, eff. 7-6-17.)
|
215 ILCS 5/408.3
(215 ILCS 5/408.3) (from Ch. 73, par. 1020.3)
Sec. 408.3. Insurance Financial Regulation Fund; uses. The monies
deposited into the Insurance Financial
Regulation Fund shall be used only for (i) payment of the expenses of the
Department, including related administrative expenses, incurred in
analyzing, investigating and examining the financial condition or control
of insurance companies and other entities licensed or seeking to be
licensed by the Department, including the collection, analysis and
distribution of information on insurance premiums, other income, costs and
expenses, and (ii) to pay internal costs and expenses of the Interstate
Insurance Receivership Commission allocated to this State and authorized and
admitted companies doing an insurance business in this State under Article X of
the Interstate Receivership Compact. All distributions and payments from the
Insurance Financial Regulation Fund shall be subject to appropriation as
otherwise provided by law for
payment of such expenses.
Sums appropriated under clause (ii) of the preceding paragraph shall be
deemed to satisfy, pro tanto, the obligations of insurers doing business in
this
State under Article X of the Interstate Insurance Receivership Compact.
Nothing in this Code shall prohibit the General Assembly from
appropriating funds from the General Revenue Fund to the Department for the
purpose of administering this Code.
No fees collected pursuant to Section 408 of this Code shall be used
for the regulation of pension funds or activities by the Department in the
performance of its duties under Article 22 of the Illinois Pension Code.
If at the end of a fiscal year the balance in the Insurance Financial
Regulation Fund which remains unexpended or unobligated exceeds the amount
of funds that the Director may certify is needed for the purposes
enumerated in this Section, then the General Assembly may appropriate that
excess amount for purposes other than those enumerated in this Section.
(Source: P.A. 98-609, eff. 1-1-14.)
|
215 ILCS 5/408.4
(215 ILCS 5/408.4)
Sec. 408.4.
Receipt and use grants.
(a) The Department is authorized to accept, receive, and use, for and in
behalf of the State, any grant of money given to further the purposes of the
insurance laws of this State by the federal government as may be offered
unconditionally or under conditions, agreements, covenants, or terms that, in
the judgment of the Department, are proper and consistent with the provisions
of subsection (b). All moneys so received shall be deposited into the
Insurance Producer Administration Fund.
(b) The moneys deposited into the Insurance Producer Administration Fund
under
this Section shall be accounted for separately and shall be expended, pursuant
to appropriation, only in accordance with the conditions, agreements,
covenants, or terms, if any, under which they were accepted and must be used to
disseminate and provide insurance related information or assistance to senior
citizens.
(Source: P.A. 88-313.)
|
215 ILCS 5/409
(215 ILCS 5/409) (from Ch. 73, par. 1021)
Sec. 409. Annual privilege tax payable by
companies. (1) As of January 1, 1999 for all health maintenance organization premiums
written; as of July 1, 1998 for all premiums written as accident and health
business, voluntary health service plan business, dental service plan business,
or limited health service organization business; and as of January 1, 1998
for all other types of insurance premiums written, every company doing any form
of insurance business in this
State, including, but not limited to, every risk retention group, and excluding
all fraternal benefit societies, all farm mutual companies, all religious
charitable risk pooling trusts, and excluding all statutory residual market and
special purpose entities in which companies are statutorily required to
participate, whether incorporated or otherwise, shall pay, for the privilege of
doing business in this State, to the Director for the State treasury a State
tax equal to 0.5% of the net taxable premium written, together with any amounts
due under Section 444 of this Code, except that the tax to be paid on any
premium derived from any accident and health insurance or on any insurance
business written by any company operating as a health maintenance organization,
voluntary health service plan, dental service plan, or limited health service
organization shall be equal to 0.4% of such net taxable premium written,
together with any amounts due under Section 444. Upon the failure of any
company to pay any such tax due, the Director may, by order, revoke or
suspend the company's certificate of authority after giving 20 days written
notice to the company, or commence proceedings for the suspension of business
in this State under the procedures set forth by Section 401.1 of this Code.
The gross taxable premium written shall be the gross amount of premiums
received on direct business during the calendar year on contracts covering
risks in this State, except premiums on annuities, premiums on which State
premium taxes are prohibited by federal law, premiums paid by the State for
health care coverage for Medicaid eligible insureds as described in Section
5-2 of the Illinois Public Aid Code, premiums paid for health care services
included as an element of tuition charges at any university or college owned
and operated by the State of Illinois, premiums on group insurance contracts
under the State Employees Group Insurance Act of 1971, and except premiums for
deferred compensation plans for employees of the State, units of local
government, or school districts. The net taxable premium shall be the gross
taxable premium written reduced only by the following:
(a) the amount of premiums returned thereon which | | shall be limited to premiums returned during the same preceding calendar year and shall not include the return of cash surrender values or death benefits on life policies including annuities;
|
|
(b) dividends on such direct business that have been
| | paid in cash, applied in reduction of premiums or left to accumulate to the credit of policyholders or annuitants. In the case of life insurance, no deduction shall be made for the payment of deferred dividends paid in cash to policyholders on maturing policies; dividends left to accumulate to the credit of policyholders or annuitants shall be included as gross taxable premium written when such dividend accumulations are applied to purchase paid-up insurance or to shorten the endowment or premium paying period.
|
|
(2) The annual privilege tax payment due from a company under subsection (4)
of
this Section may be reduced by: (a) the excess amount, if any, by which the
aggregate income taxes paid by the company, on a cash basis, for the preceding
calendar year under Sections 601 and 803 of the Illinois
Income Tax Act exceed 1.5% of the company's net taxable premium written for
that prior calendar year, as determined under subsection (1) of this Section;
and (b) the amount of any fire department taxes paid by the company during the
preceding calendar year under Section 11-10-1 of the Illinois Municipal Code.
Any deductible amount or offset allowed under items (a) and (b) of this
subsection for any calendar year will not be allowed as a deduction or offset
against the company's privilege tax liability for any other taxing period or
calendar year.
(3) If a company survives or was formed by a merger, consolidation,
reorganization, or reincorporation, the premiums received and amounts returned
or paid by all companies party to the merger, consolidation, reorganization,
or reincorporation shall, for purposes of determining the amount of the tax
imposed by this Section, be regarded as received, returned, or paid by the
surviving
or new company.
(4)(a) All companies subject to the provisions of this Section shall make an
annual return for the preceding calendar year on or before March 15 setting
forth such information on such forms as the Director may reasonably require.
Payments of quarterly installments of the taxpayer's total estimated tax for
the current calendar year shall be due on or before April 15, June 15,
September 15, and December 15 of such year, except that all companies
transacting insurance in this State whose annual tax for the immediately
preceding calendar year was less than $5,000 shall make only an annual return.
Failure of a company to make the annual payment, or to make the quarterly
payments, if required, of at least 25% of either (i) the total tax paid during
the
previous calendar year or (ii) 80% of the actual tax for the current calendar
year shall subject it to the penalty provisions set forth in Section 412 of
this Code.
(b) Notwithstanding the foregoing provisions, no annual return shall be
required or made on March 15, 1998, under this subsection. For the calendar
year 1998:
(i) each health maintenance organization shall have
| | no estimated tax installments;
|
|
(ii) all companies subject to the tax as of July 1,
| | 1998 as set forth in subsection (1) shall have estimated tax installments due on September 15 and December 15 of 1998 which installments shall each amount to no less than one-half of 80% of the actual tax on its net taxable premium written during the period July 1, 1998, through December 31, 1998; and
|
|
(iii) all other companies shall have estimated tax
| | installments due on June 15, September 15, and December 15 of 1998 which installments shall each amount to no less than one-third of 80% of the actual tax on its net taxable premium written during the calendar year 1998.
|
|
In the year 1999 and thereafter all companies shall make annual and
quarterly installments of their estimated tax as provided by paragraph (a) of
this subsection.
(5) In addition to the authority specifically granted under Article XXV of
this Code, the Director shall have such authority to adopt rules and establish
forms as may be reasonably necessary
for purposes of determining the allocation of Illinois corporate income taxes
paid under subsections (a) through (d) of Section 201 of the Illinois Income
Tax Act amongst members of a business group that files an Illinois corporate
income tax return on a unitary basis, for purposes of regulating the amendment
of tax returns, for purposes of defining terms, and for purposes of enforcing
the provisions of
Article XXV of
this Code. The Director shall also have authority to defer, waive, or abate
the tax
imposed by this Section if in his opinion the company's solvency and ability to
meet its insured obligations would be immediately threatened by payment of the
tax due.
(6) This Section is subject to the provisions of Section 10 of the New Markets Development Program Act.
(Source: P.A. 97-813, eff. 7-13-12; 98-1169, eff. 1-9-15.)
|
215 ILCS 5/410
(215 ILCS 5/410) (from Ch. 73, par. 1022)
Sec. 410.
Reports
and statements for purpose of auditing retaliatory and privilege tax returns.
(1) For the purpose of enabling the Director to audit the retaliatory and
privilege tax
calculation of a company liable for such tax under the provisions of
Sections 409, 444 and 444.1, every such company, in addition to all other
statements and
reports required by law, shall file a report in writing with the Director
not later than March 1 of each year, in the form prescribed by the
Director, signed and sworn to by its president, vice president, secretary,
treasurer or manager.
(2) In every such return the reporting of premiums for tax purposes
shall be on a written basis or on a paid for basis, consistent with the
basis required by the annual statement of the insurer filed with the
Director pursuant to Section 136.
(3) The Director may require at any time verified supplemental
statements with reference to any matter pertinent to the proper calculation
of the tax.
(Source: P.A. 82-767.)
|
215 ILCS 5/412
(215 ILCS 5/412) (from Ch. 73, par. 1024)
Sec. 412. Refunds; penalties; collection.
(1)(a) Whenever it appears to
the satisfaction of the Director that because of some mistake of fact,
error in calculation, or erroneous interpretation of a statute of this
or any other state, any authorized company, surplus line producer, or industrial insured has paid to him, pursuant to
any provision of law, taxes, fees, or other charges
in excess of the
amount legally chargeable against it, during the 6 year period
immediately preceding the discovery of such overpayment, he shall have
power to refund to such company, surplus line producer, or industrial insured the amount of the excess or excesses by
applying the amount or amounts thereof toward
the payment of taxes, fees, or other charges already due, or which may
thereafter become due from that company until such excess or excesses have been
fully
refunded, or upon a written request from the authorized company, surplus line producer, or industrial insured, the
Director shall provide a cash refund within
120 days after receipt of the written request if all necessary information has
been filed with the Department in order for it to perform an audit of the
tax report for the transaction or period or annual return for the year in which the overpayment occurred or within 120 days
after the date the Department receives all the necessary information to perform
such audit. The Director shall not provide a cash refund if there are
insufficient funds in the Insurance Premium Tax Refund Fund to provide a cash
refund, if the amount of the overpayment is less than $100, or if the amount of
the overpayment can be fully offset against the taxpayer's estimated liability
for the year following the year of the cash refund request. Any cash refund
shall be paid from the Insurance Premium Tax Refund Fund, a special fund hereby
created in the
State treasury.
(b) As determined by the Director pursuant to paragraph (a) of this subsection, the Department shall deposit an amount of cash refunds approved by the Director for payment as a result of overpayment of tax liability
collected under Sections 121-2.08, 409, 444, 444.1, and 445 of
this
Code into the Insurance Premium Tax Refund Fund.
(c) Beginning July 1, 1999, moneys in the Insurance Premium Tax Refund
Fund
shall be expended exclusively for the purpose of paying cash refunds resulting
from overpayment of tax liability under Sections 121-2.08, 409, 444, 444.1, and 445 of this
Code
as
determined by the Director pursuant to subsection 1(a) of this Section. Cash
refunds made in accordance with this Section may be made from the Insurance
Premium Tax Refund Fund only to the extent that amounts have been deposited and
retained in the Insurance Premium Tax Refund Fund.
(d) This Section shall constitute an irrevocable and continuing
appropriation from the Insurance Premium Tax Refund Fund for the purpose of
paying cash refunds pursuant to the provisions of this Section.
(2)(a) When any insurance company fails to
file any tax return required under Sections 408.1, 409, 444, and 444.1 of
this Code or Section 12 of the Fire Investigation Act on the date
prescribed, including any extensions, there shall be added as a penalty
$400 or 10% of the amount of such tax, whichever is
greater, for each month
or part of a month of failure to file, the entire penalty not to exceed
$2,000 or 50% of the tax due, whichever is greater.
(b) When any industrial insured or surplus line producer fails to file any tax return or report required under Sections 121-2.08 and 445 of this Code or Section 12 of the Fire Investigation Act on the date prescribed, including any extensions, there shall be added: (i) as a late fee, if the return or report is | | received at least one day but not more than 7 days after the prescribed due date, $400 or 10% of the tax due, whichever is greater, the entire fee not to exceed $1,000;
|
| (ii) as a late fee, if the return or report is
| | received at least 8 days but not more than 14 days after the prescribed due date, $400 or 10% of the tax due, whichever is greater, the entire fee not to exceed $1,500;
|
| (iii) as a late fee, if the return or report is
| | received at least 15 days but not more than 21 days after the prescribed due date, $400 or 10% of the tax due, whichever is greater, the entire fee not to exceed $2,000; or
|
| (iv) as a penalty, if the return or report is
| | received more than 21 days after the prescribed due date, $400 or 10% of the tax due, whichever is greater, for each month or part of a month of failure to file, the entire penalty not to exceed $2,000 or 50% of the tax due, whichever is greater.
|
| A tax return or report shall be deemed received as of the date mailed as evidenced by a postmark, proof of mailing on a recognized United States Postal Service form or a form acceptable to the United States Postal Service or other commercial mail delivery service, or other evidence acceptable to the Director.
(3)(a) When any insurance company
fails to pay the full amount due under the provisions of this Section,
Sections 408.1, 409, 444, or 444.1 of this Code, or Section 12 of the
Fire Investigation Act, there shall be added to the amount due as a penalty
an amount equal to 10% of the deficiency.
(a-5) When any industrial insured or surplus line producer fails to pay the full amount due under the provisions of this Section, Sections 121-2.08 or 445 of this Code, or Section 12 of the Fire Investigation Act on the date prescribed, there shall be added:
(i) as a late fee, if the payment is received at
| | least one day but not more than 7 days after the prescribed due date, 10% of the tax due, the entire fee not to exceed $1,000;
|
| (ii) as a late fee, if the payment is received at
| | least 8 days but not more than 14 days after the prescribed due date, 10% of the tax due, the entire fee not to exceed $1,500;
|
| (iii) as a late fee, if the payment is received at
| | least 15 days but not more than 21 days after the prescribed due date, 10% of the tax due, the entire fee not to exceed $2,000; or
|
| (iv) as a penalty, if the return or report is
| | received more than 21 days after the prescribed due date, 10% of the tax due.
|
| A tax payment shall be deemed received as of the date mailed as evidenced by a postmark, proof of mailing on a recognized United States Postal Service form or a form acceptable to the United States Postal Service or other commercial mail delivery service, or other evidence acceptable to the Director.
(b) If such failure to pay is determined by the Director to be wilful,
after a hearing under Sections 402 and 403, there shall be added to the tax
as a penalty an amount equal to the greater of 50% of the
deficiency or 10%
of the amount due and unpaid for each month or part of a month that the
deficiency remains unpaid commencing with the date that the amount becomes
due. Such amount shall be in lieu of any determined under paragraph (a) or (a-5).
(4) Any insurance company, industrial insured, or surplus line producer that
fails to pay the full amount due under this Section or Sections 121-2.08, 408.1, 409,
444, 444.1, or 445 of this Code, or Section 12 of the Fire Investigation
Act is liable, in addition to the tax and any late fees and penalties, for interest
on such deficiency at the rate of 12% per annum, or at such higher adjusted
rates as are or may be established under subsection (b) of Section 6621
of the Internal Revenue Code, from the date that payment of any such tax
was due, determined without regard to any extensions, to the date of payment
of such amount.
(5) The Director, through the Attorney
General, may institute an action in the name of the People of the State
of Illinois, in any court of competent jurisdiction, for the recovery of
the amount of such taxes, fees, and penalties due, and prosecute the same to
final judgment, and take such steps as are necessary to collect the same.
(6) In the event that the certificate of authority of a foreign or
alien company is revoked for any cause or the company withdraws from
this State prior to the renewal date of the certificate of authority as
provided in Section 114, the company may recover the amount of any such
tax paid in advance. Except as provided in this subsection, no
revocation or withdrawal excuses payment of or constitutes grounds for
the recovery of any taxes or penalties imposed by this Code.
(7) When an insurance company or domestic affiliated group fails to pay
the full amount of any fee of $200 or more due under
Section 408 of this Code, there shall be added to the amount due as
a penalty the greater of $100 or an amount equal to 10%
of the deficiency for
each month or part of
a month that the deficiency remains unpaid.
(8) The Department shall have a lien for the taxes, fees, charges, fines, penalties, interest, other charges, or any portion thereof, imposed or assessed pursuant to this Code, upon all the real and personal property of any company or person to whom the assessment or final order has been issued or whenever a tax return is filed without payment of the tax or penalty shown therein to be due, including all such property of the company or person acquired after receipt of the assessment, issuance of the order, or filing of the return. The company or person is liable for the filing fee incurred by the Department for filing the lien and the filing fee incurred by the Department to file the release of that lien. The filing fees shall be paid to the Department in addition to payment of the tax, fee, charge, fine, penalty, interest, other charges, or any portion thereof, included in the amount of the lien. However, where the lien arises because of the issuance of a final order of the Director or tax assessment by the Department, the lien shall not attach and the notice referred to in this Section shall not be filed until all administrative proceedings or proceedings in court for review of the final order or assessment have terminated or the time for the taking thereof has expired without such proceedings being instituted.
Upon the granting of Department review after a lien has attached, the lien shall remain in full force except to the extent to which the final assessment may be reduced by a revised final assessment following the rehearing or review. The lien created by the issuance of a final assessment shall terminate, unless a notice of lien is filed, within 3 years after the date all proceedings in court for the review of the final assessment have terminated or the time for the taking thereof has expired without such proceedings being instituted, or (in the case of a revised final assessment issued pursuant to a rehearing or review by the Department) within 3 years after the date all proceedings in court for the review of such revised final assessment have terminated or the time for the taking thereof has expired without such proceedings being instituted. Where the lien results from the filing of a tax return without payment of the tax or penalty shown therein to be due, the lien shall terminate, unless a notice of lien is filed, within 3 years after the date when the return is filed with the Department.
The time limitation period on the Department's right to file a notice of lien shall not run during any period of time in which the order of any court has the effect of enjoining or restraining the Department from filing such notice of lien. If the Department finds that a company or person is about to depart from the State, to conceal himself or his property, or to do any other act tending to prejudice or to render wholly or partly ineffectual proceedings to collect the amount due and owing to the Department unless such proceedings are brought without delay, or if the Department finds that the collection of the amount due from any company or person will be jeopardized by delay, the Department shall give the company or person notice of such findings and shall make demand for immediate return and payment of the amount, whereupon the amount shall become immediately due and payable. If the company or person, within 5 days after the notice (or within such extension of time as the Department may grant), does not comply with the notice or show to the Department that the findings in the notice are erroneous, the Department may file a notice of jeopardy assessment lien in the office of the recorder of the county in which any property of the company or person may be located and shall notify the company or person of the filing. The jeopardy assessment lien shall have the same scope and effect as the statutory lien provided for in this Section. If the company or person believes that the company or person does not owe some or all of the tax for which the jeopardy assessment lien against the company or person has been filed, or that no jeopardy to the revenue in fact exists, the company or person may protest within 20 days after being notified by the Department of the filing of the jeopardy assessment lien and request a hearing, whereupon the Department shall hold a hearing in conformity with the provisions of this Code and, pursuant thereto, shall notify the company or person of its findings as to whether or not the jeopardy assessment lien will be released. If not, and if the company or person is aggrieved by this decision, the company or person may file an action for judicial review of the final determination of the Department in accordance with the Administrative Review Law. If, pursuant to such hearing (or after an independent determination of the facts by the Department without a hearing), the Department determines that some or all of the amount due covered by the jeopardy assessment lien is not owed by the company or person, or that no jeopardy to the revenue exists, or if on judicial review the final judgment of the court is that the company or person does not owe some or all of the amount due covered by the jeopardy assessment lien against them, or that no jeopardy to the revenue exists, the Department shall release its jeopardy assessment lien to the extent of such finding of nonliability for the amount, or to the extent of such finding of no jeopardy to the revenue. The Department shall also release its jeopardy assessment lien against the company or person whenever the amount due and owing covered by the lien, plus any interest which may be due, are paid and the company or person has paid the Department in cash or by guaranteed remittance an amount representing the filing fee for the lien and the filing fee for the release of that lien. The Department shall file that release of lien with the recorder of the county where that lien was filed.
Nothing in this Section shall be construed to give the Department a preference over the rights of any bona fide purchaser, holder of a security interest, mechanics lienholder, mortgagee, or judgment lien creditor arising prior to the filing of a regular notice of lien or a notice of jeopardy assessment lien in the office of the recorder in the county in which the property subject to the lien is located. For purposes of this Section, "bona fide" shall not include any mortgage of real or personal property or any other credit transaction that results in the mortgagee or the holder of the security acting as trustee for unsecured creditors of the company or person mentioned in the notice of lien who executed such chattel or real property mortgage or the document evidencing such credit transaction. The lien shall be inferior to the lien of general taxes, special assessments, and special taxes levied by any political subdivision of this State. In case title to land to be affected by the notice of lien or notice of jeopardy assessment lien is registered under the provisions of the Registered Titles (Torrens) Act, such notice shall be filed in the office of the Registrar of Titles of the county within which the property subject to the lien is situated and shall be entered upon the register of titles as a memorial or charge upon each folium of the register of titles affected by such notice, and the Department shall not have a preference over the rights of any bona fide purchaser, mortgagee, judgment creditor, or other lienholder arising prior to the registration of such notice. The regular lien or jeopardy assessment lien shall not be effective against any purchaser with respect to any item in a retailer's stock in trade purchased from the retailer in the usual course of the retailer's business.
(Source: P.A. 102-775, eff. 5-13-22.)
|
215 ILCS 5/413
(215 ILCS 5/413) (from Ch. 73, par. 1025)
Sec. 413.
Privilege
Tax Payable on Admission of Foreign or Alien Company.
(1) Every foreign or alien company applying for a certificate of
authority to transact business in this State shall pay to the Director a
tax for the privilege of transacting business in this State in accordance
with Section 409.
(2) If during all or any part of the 3 year period next preceding the
date of application for a certificate of authority the company had a
certificate of authority to transact business in this State, or if it
survives or was formed by a merger, consolidation, reorganization or
reincorporation, and one or more of the parties thereto was a foreign or
alien company authorized to transact business in this State during all or
any part of such 3 year period, then the tax shall be determined in
accordance with Section 409 on the basis of the last entire calendar year
during which the company or any one of the foreign or alien companies
parties to the merger, consolidation, reorganization or reincorporation was
authorized to transact business in this State, or if none was authorized
during any entire calendar year, then on the basis of the last partial
calendar year during which any of such companies were authorized to
transact business in this State.
(Source: P.A. 77-2087.)
|
215 ILCS 5/414a
(215 ILCS 5/414a) (from Ch. 73, par. 1026a)
Sec. 414a.
Notwithstanding the provisions of this or any other Act, the
tax authorized by Section 414 of this Act shall not be imposed after January
1, 1979; provided that this Section shall not prohibit the collection after
January 1, 1979 of any taxes levied under Section 414 prior to January
1, 1979, on property subject to assessment and taxation under Section 414
of this Act prior to January 1, 1979. For the purpose of replacing the revenue
lost by taxing districts, as defined in Section 1-150 of the Property Tax
Code, as a result of the abolition of ad
valorem taxes on personal property after January 1, 1979, there shall be
imposed the taxes described in Section 201(c) and (d) of the Illinois
Income Tax Act, Section 2a.1 of the Messages Tax Act,
Section 2a.1 of the Gas Revenue Tax Act, Section 2a.1 of
the Public Utilities Revenue Act, and Section 1 of the Water Company Invested
Capital Tax Act. Such replacement taxes owed
within one year of the effective date of the taxes established by
this amendatory Act of 1979 shall replace the personal property tax levies of
1979. The replacement taxes owed in each succeeding year shall replace the
personal property tax that could have been levied in each succeeding year.
(Source: P.A. 88-670, eff. 12-2-94.)
|
215 ILCS 5/415
(215 ILCS 5/415) (from Ch. 73, par. 1027)
Sec. 415.
No taxes to be imposed by political subdivisions.
The fees, charges and taxes provided for by this Article
shall be in lieu of all license fees or privilege or occupation taxes or
other fees levied or assessed by any municipality, county or other political
subdivision of this State, and no municipality, county or other political
subdivision of this State shall impose any license fee or privilege or
occupation tax or fee upon any domestic, foreign or alien company, or upon any
of its agents, for the privilege of doing an insurance business therein, except
the tax authorized by Division 10 of Article 11 of the Illinois Municipal Code,
as heretofore and hereafter amended. This Section shall not be construed to
prohibit the levy and collection of:
(a) State, county or municipal taxes upon the real | | and personal property of such a company, including the tax imposed by Section 414 of this Code, and
|
|
(b) taxes for the purpose of maintaining the Office
| | of the State Fire Marshal and paying the expenses incident thereto.
|
|
(Source: P.A. 91-357, eff. 7-29-99.)
|
215 ILCS 5/416
(215 ILCS 5/416)
Sec. 416. Illinois Workers' Compensation
Commission Operations Fund Surcharge.
(a) As of July 30, 2004 (the effective date of Public Act 93-840), every company licensed or
authorized by the Illinois Department of Insurance and insuring employers'
liabilities arising under the Workers' Compensation Act or the Workers'
Occupational Diseases Act shall remit to the Director a surcharge based upon
the annual direct written premium, as reported under Section 136 of this Act,
of the company in the manner provided in this
Section. Such
proceeds shall
be deposited into the Illinois Workers' Compensation
Commission Operations Fund as
established in
the Workers' Compensation Act. If a company
survives or
was formed by a merger, consolidation, reorganization, or reincorporation, the
direct
written premiums of all companies party to the merger, consolidation,
reorganization, or
reincorporation shall, for purposes of determining the amount of the fee
imposed by this
Section, be regarded as those of the surviving or new company.
(b)(1) Except as provided in subsection (b)(2) of this Section, beginning on
July 30, 2004 (the effective date of Public Act 93-840) and on July 1 of each year thereafter,
the
Director shall
charge an annual Illinois Workers' Compensation Commission Operations Fund Surcharge from every
company subject to subsection (a) of this Section equal to 1.01% of its direct
written
premium for insuring employers' liabilities arising under the Workers'
Compensation Act or Workers' Occupational Diseases Act as reported in each
company's
annual
statement filed for the previous year as required by Section 136. The
Illinois Workers' Compensation Commission Operations Fund Surcharge shall be collected by companies
subject to subsection (a) of this Section as a separately stated surcharge on
insured employers at the rate of 1.01% of direct written premium. The
Illinois Workers' Compensation Commission Operations Fund Surcharge shall not be collected by companies
subject to subsection (a) of this Section from any employer that self-insures its liabilities arising under the Workers' Compensation Act or Workers' Occupational Diseases Act, provided that the employer has paid the Illinois Workers' Compensation Commission Operations Fund Fee pursuant to Section 4d of the Workers' Compensation Act. All sums
collected by
the Department of Insurance under the provisions of this Section shall be paid
promptly
after the receipt of the same, accompanied by a detailed statement thereof,
into the
Illinois Workers' Compensation Commission Operations Fund in the State treasury.
(b)(2) The surcharge due pursuant to Public Act 93-840 shall be collected instead of the surcharge due on July 1, 2004 under Public Act 93-32. Payment of the surcharge due under Public Act 93-840 shall discharge the employer's obligations due on July 1, 2004.
(c) In addition to the authority specifically granted under Article XXV of
this
Code, the Director shall have such authority to adopt rules or establish forms
as may be
reasonably necessary for purposes of enforcing this Section. The Director shall
also have
authority to defer, waive, or abate the surcharge or any penalties imposed by
this
Section if in
the Director's opinion the company's solvency and ability to meet its insured
obligations
would be immediately threatened by payment of the surcharge due.
(d) When a company fails to pay the full amount of any annual
Illinois Workers' Compensation
Commission Operations Fund Surcharge of $100 or more due under this Section,
there
shall be
added to the amount due as a penalty an amount equal
to 10% of
the deficiency for each month or part of a month that the deficiency remains
unpaid.
(e) The Department of Insurance may enforce the collection of any delinquent
payment, penalty, or portion thereof by legal action or in any other manner by
which the
collection of debts due the State of Illinois may be enforced under the laws of
this State.
(f) Whenever it appears to the satisfaction of the Director that a company
has
paid
pursuant to this Act an Illinois Workers' Compensation Commission Operations Fund Surcharge in
an amount
in excess of the amount legally collectable from the company, the Director
shall issue a
credit memorandum for an amount equal to the amount of such overpayment. A
credit
memorandum may be applied for the 2-year period from the date of issuance,
against the
payment of any amount due during that period under the surcharge imposed by
this
Section or,
subject to reasonable rule of the Department of Insurance including requirement
of
notification, may be assigned to any other company subject to regulation under
this Act.
Any application of credit memoranda after the period provided for in this
Section is void.
(g) Annually, the Governor may direct a transfer of up to 2% of all moneys
collected under this Section to the Insurance Financial Regulation Fund.
(Source: P.A. 102-775, eff. 5-13-22.)
|
215 ILCS 5/Art. XXVI
(215 ILCS 5/Art. XXVI heading)
ARTICLE XXVI.
UNFAIR METHODS OF COMPETITION AND UNFAIR AND DECEPTIVE ACTS
AND PRACTICES
|
215 ILCS 5/421
(215 ILCS 5/421) (from Ch. 73, par. 1028)
Sec. 421.
Declaration of purpose.
The purpose of this article is to regulate trade practices in the
business of insurance in accordance with the intent of Congress as
expressed in the Act of Congress of March 9, 1945 (Public Law 15, 79th
Congress), by defining, or providing for the determination of, all such
practices in this State which constitute unfair methods of competition or
unfair or deceptive acts or practices and by prohibiting the trade
practices so defined or determined.
(Source: Laws 1959, p. 734.)
|
215 ILCS 5/422
(215 ILCS 5/422) (from Ch. 73, par. 1029)
Sec. 422.
Definitions.
When used in this Article, "Person" shall mean any individual,
partnership, association, corporation, society, order, firm, company,
aggregation of individuals, reciprocal exchange, inter-insurer, Lloyds
insurer, fraternal benefit society, and any other legal entity to which any
article of this Code is applicable, or which is subject to examination,
visitation or supervision by the Director under any provision of this Code
or under any law of this State, or which is engaged or engaging in or
proposing or attempting to engage in or is representing that it is doing an
insurance or surety business in this State, or which is in process of
organization for the purpose of doing such business, including agents,
brokers, adjusters and solicitors.
(Source: Laws 1959, p. 734.)
|
215 ILCS 5/423
(215 ILCS 5/423) (from Ch. 73, par. 1030)
Sec. 423.
Unfair
methods of competition or unfair and deceptive acts or practices
prohibited.
(1) No person shall engage in this State in any trade practice which is
defined in this Article as, or determined pursuant to this Article to be an
unfair method of competition or an unfair or deceptive act or practice in
the business of insurance.
(2) No person domiciled in or resident of this State shall engage in any
other State, Territory, Province, Possession, Country or District in which
he is not licensed or otherwise authorized to transact business in any
trade practice which is defined in this Article as, or determined pursuant
to this Article to be an unfair method of competition or an unfair or
deceptive act or practice in the business of insurance.
(Source: Laws 1967, p. 990.)
|
215 ILCS 5/424
(215 ILCS 5/424) (from Ch. 73, par. 1031)
Sec. 424. Unfair methods of competition and unfair or deceptive acts or
practices defined. The following are hereby defined as unfair methods of
competition and unfair and deceptive acts or practices in the business of
insurance:
(1) The commission by any person of any one or more | | of the acts defined or prohibited by Sections 134, 143.24c, 147, 148, 149, 151, 155.22, 155.22a, 155.42, 236, 237, 364, 469, and 513b1 of this Code.
|
|
(2) Entering into any agreement to commit, or by any
| | concerted action committing, any act of boycott, coercion or intimidation resulting in or tending to result in unreasonable restraint of, or monopoly in, the business of insurance.
|
|
(3) Making or permitting, in the case of insurance of
| | the types enumerated in Classes 1, 2, and 3 of Section 4, any unfair discrimination between individuals or risks of the same class or of essentially the same hazard and expense element because of the race, color, religion, or national origin of such insurance risks or applicants. The application of this Article to the types of insurance enumerated in Class 1 of Section 4 shall in no way limit, reduce, or impair the protections and remedies already provided for by Sections 236 and 364 of this Code or any other provision of this Code.
|
|
(4) Engaging in any of the acts or practices defined
| | in or prohibited by Sections 154.5 through 154.8 of this Code.
|
|
(5) Making or charging any rate for insurance against
| | losses arising from the use or ownership of a motor vehicle which requires a higher premium of any person by reason of his physical disability, race, color, religion, or national origin.
|
|
(6) Failing to meet any requirement of the Unclaimed
| | Life Insurance Benefits Act with such frequency as to constitute a general business practice.
|
| (Source: P.A. 102-778, eff. 7-1-22.)
|
215 ILCS 5/425
(215 ILCS 5/425) (from Ch. 73, par. 1032)
Sec. 425.
Power of
Director.
The Director shall have power to examine and investigate into the
affairs of every person engaged in the business of insurance in this State
and to examine and investigate into the affairs of any person domiciled in
or resident of this State engaged in the business of insurance in any other
State, Territory, Province, Possession, Country or District in which he is
not licensed or otherwise authorized to transact business in order to
determine whether such person has been or is engaged in any unfair method
of competition or in any unfair or deceptive act or practice prohibited by
Section 424.
(Source: Laws 1967, p. 990.)
|
215 ILCS 5/426
(215 ILCS 5/426) (from Ch. 73, par. 1033)
Sec. 426.
Hearings.
(1) Whenever the Director shall have reason to believe that any such
person has been engaged or is engaging in this State in any unfair method
of competition or any unfair or deceptive act or practice defined in
Section 424, or that any person domiciled in or resident of this State
has been engaged or is engaging in any other State, Territory, Province,
Possession, Country or District in which he is not licensed or otherwise
authorized to transact business in any unfair method of competition or any
unfair or deceptive act or practice defined in Section 424, and that a
proceeding by him in respect thereto would be to the interest of the
public, he shall issue and serve upon such person or persons domiciled in
or resident of this State a statement of the charges in that respect and a
notice of a hearing thereon to be held at a time and place fixed in the
notice, which shall not be less than 10 days after the date of the service
thereof.
(2) At the time and place fixed for such hearing, such person shall have
an opportunity to be heard in person or by counsel and to show cause why an
order should not be made by the Director requiring such persons to cease
and desist from the acts, methods or practices so complained of. Upon good
cause shown, before the commencement of such hearing, the Director shall
permit any person to intervene, appear and be heard at such hearing by
counsel or in person.
(3) The Director, upon such hearing, may, and upon the request of any
party shall, cause to be made a stenographic record of all the evidence and
all the proceedings had at such hearing. If no stenographic record is made
and if a judicial review is sought, the Director shall prepare a statement
of the evidence and proceeding for use on review.
(Source: Laws 1967, p. 990.)
|
215 ILCS 5/427
(215 ILCS 5/427) (from Ch. 73, par. 1034)
Sec. 427.
Cease and
desist orders and modifications thereof.
(1) If, after such hearing, the Director shall determine that the method
of competition or the act or practice in question is defined in Section
424 and that the person complained of has engaged in such method of
competition, act or practice in violation of this article, he shall reduce
his findings to writing and shall issue and cause to be served upon the
person charged with the violation an order requiring such person to cease
and desist from engaging in such method of competition, act or practice.
(2) Until the expiration of the time allowed under Section 407 of this
Code for filing a complaint for review if no such complaint has been duly
filed within such time or, if a complaint for review has been filed within
such time, then until the answer in the proceeding has been filed in the
court, as provided in said section, the Director may at any time, upon such
notice and in such manner as he shall deem proper, modify or set aside in
whole or in part any order issued by him under this section.
(3) After the expiration of the time allowed for filing such a complaint
for review if no such complaint has been duly filed within such time, the
Director may at any time, after notice and opportunity for hearing, reopen
and alter, modify or set aside, in whole or in part, any order issued by
him under this section, whenever in his opinion conditions of fact or of
law have so changed as to require such action or if the public interest
shall so require.
(Source: Laws 1959, p. 734.)
|
215 ILCS 5/428
(215 ILCS 5/428) (from Ch. 73, par. 1035)
Sec. 428.
Procedure
on review.
(1) To the extent that the order of the Director is affirmed, the court
shall thereupon enter its own order commanding obedience to the terms of
the order of the Director. If either party applies to the court for
leave to adduce additional evidence, and shows to the satisfaction of
the court that such additional evidence is material and that there were
reasonable grounds for the failure to adduce such evidence in the
proceeding before the Director, the court may order such additional
evidence to be taken before the Director and to be adduced upon the hearing
in such manner and upon such terms and conditions as to the court may seem
proper. The Director, may modify his or her findings of fact, or make new findings
by reason of the additional evidence so taken, and he or she shall file such
modified or new findings as well as any modification of the original order
reached as a result of hearing such additional evidence.
(2) A cease and desist order issued by the Director under Section 427
shall become final.
(a) Upon the expiration of the time allowed for filing a complaint for
review if no such complaint has been duly filed within such time; but
the Director may thereafter modify or set aside his or her order to the
extent provided in Section 427 (2); or
(b) Upon the entry of a final decision, order or judgment of the
court.
(3) No order of the Director under this Article or order of a court to
enforce the same shall in any way relieve or absolve any person affected by
such order from any liability under any other laws of this State.
(Source: P.A. 84-1308.)
|
215 ILCS 5/429
(215 ILCS 5/429) (from Ch. 73, par. 1036)
Sec. 429. Procedure
as to unfair methods of competition and unfair or deceptive acts or
practices which are not defined. (1) Whenever the Director shall have reason to believe (a) that any
person engaged in the business of insurance is engaging in this State in
any method of competition or in any act or practice in the conduct of such
business which is not defined in Section 424, as an unfair method of
competition or an unfair or deceptive act or practice or that any person
domiciled in or resident of this State engaged in the business of insurance
is engaging in any other state, territory, province, possession, country,
or district in which he or she is not licensed or otherwise authorized to transact
business in any method of competition or in any act or practice in the
conduct of such business which is not defined in Section 424, as an unfair
method of competition or an unfair or deceptive act or practice, and (b)
that such method of competition is unfair or that such act or practice is
unfair or deceptive, or (c) that such unfair method of competition or such
unfair or deceptive act or practice violates any of the provisions of this Code or any other law of this State, or (d) that a proceeding
by him or her in respect thereto would be to the interest of the public,
he or she may
issue and serve upon such person a statement of the charges in that respect
and a notice of a hearing thereon to be held at a time and place fixed in
the notice, which shall not be less than 10 days after the date of the
service thereof. Each such hearing shall be conducted in the same manner as
the hearings provided for in Section 426. The Director shall, after such
hearing, make a report in writing in which he or she shall state his
or her findings as
to the facts, and he or she shall serve a copy thereof upon such person.
(2) If such report charges a violation of this Article and if such
method of competition, act, or practice has not been discontinued, the
Director may, through the Attorney General of this State, at any time after
the service of such report cause a complaint to be filed in the Circuit
Court of Sangamon County or in the Circuit Court of this State within the
county wherein the person resides or has his principal place of business,
to enjoin and restrain such person from engaging in such method, act, or
practice. The court shall have jurisdiction of the proceeding and shall
have power to make and enter appropriate orders in connection therewith and
to enter such orders as are ancillary to its jurisdiction
or are necessary
in its judgment to prevent injury to the public pendente lite.
(3) A transcript of the proceedings before the Director including all
evidence taken and the report and findings shall be filed with such
complaint. If either party shall apply to the court for leave to adduce
additional evidence and shall show, to the satisfaction of the court, that
such additional evidence is material and there were reasonable grounds for
the failure to adduce such evidence in the proceedings before the Director
the court may order such additional evidence to be taken before the
Director and to be adduced upon the hearing in such manner and upon such
terms and conditions as to the court may seem proper. The Director may
modify his or her findings of fact or make new findings by reason of the
additional evidence so taken, and he or she shall file such modified or new
findings with the return of such additional evidence.
(4) If the court finds (a) that the method of competition complained of
is unfair or that the act or practice complained of is unfair or deceptive,
or (b) that such unfair method of competition or such unfair or deceptive
act or practice is in violation of this Code or any other law of
this State and (c) that the proceeding by the Director with respect thereto
is to the interest of public and (d) that the findings of the Director are
supported by the evidence, it shall enter an order enjoining and
restraining the continuance of such method of competition, act, or practice.
(Source: P.A. 100-863, eff. 8-14-18.)
|
215 ILCS 5/430
(215 ILCS 5/430) (from Ch. 73, par. 1037)
Sec. 430.
Judicial review by intervenor.
If the report of the Director
does not charge a violation of this
Article, then any party in interest who was an intervenor in the
proceedings before the Director may within 35 days after the service of
such report, cause a complaint to be filed in the Circuit Court of Sangamon
County for a review of such report. Upon such review, the court shall have
authority to issue appropriate orders and judgment in connection therewith,
including, if the court finds that it is to the interest of the public,
orders enjoining and restraining the continuance of any method of
competition, act or practice which it finds, notwithstanding such report of
the Director, constitutes a violation of this Article.
(Source: P.A. 79-1362.)
|
215 ILCS 5/431
(215 ILCS 5/431) (from Ch. 73, par. 1038)
Sec. 431.
Penalty.
Any person who violates a cease and desist order of the Director under
Section 427, after it has become final, and while such order is in
effect, or who violates an order of the Circuit Court under Section 429,
shall, upon proof thereof to the satisfaction of the court, forfeit and pay
to the State of Illinois, a sum not to exceed $1,000, which may be
recovered
in a civil action, for each violation.
(Source: P.A. 93-32, eff. 7-1-03.)
|
215 ILCS 5/432
(215 ILCS 5/432) (from Ch. 73, par. 1039)
Sec. 432.
Provisions additional to existing law.
The powers vested in the Director by this Article shall be additional to
any other powers to enforce any penalties, fines or forfeitures authorized
by law with respect to the methods, acts and practices hereby declared to
be unfair or deceptive.
(Source: Laws 1959, p. 734.)
|
215 ILCS 5/433
(215 ILCS 5/433) (from Ch. 73, par. 1040)
Sec. 433.
Immunity
from prosecution.
If any person shall ask to be excused from attending and testifying or
from producing any books, papers, records, correspondence or other
documents at any hearing on the ground that the testimony or evidence
required of him may tend to incriminate him or subject him to a penalty or
forfeiture, and shall notwithstanding be directed to give such testimony or
produce such evidence, he must none the less comply with such direction,
but he shall not thereafter be prosecuted or subjected to any penalty or
forfeiture for or on account of any transaction, matter or thing concerning
which he may testify or produce evidence pursuant thereto, and no testimony
so given or evidence produced shall be received against him upon any
criminal action, investigation or proceeding, provided, however, that no
such individual so testifying shall be exempt from prosecution or
punishment for any perjury committed by him while so testifying and the
testimony or evidence so given or produced shall be admissible against him
upon any criminal action, investigation or proceeding concerning such
perjury, nor shall he be exempt from the refusal, revocation or suspension
of any license, permission or authority conferred, or to be conferred,
pursuant to the insurance laws of this State. Any such individual may
execute, acknowledge and file in the office of the Director a statement
expressly waiving such immunity or privilege in respect to any transaction,
matter or thing specified in such statement and thereupon the testimony of
such person or such evidence into such transaction, matter or thing may be
received or produced before any judge or justice, court, tribunal, grand
jury or otherwise, and if so received or produced such individual shall not
be entitled to any immunity or privilege on account of any testimony he may
so give or evidence so produced.
(Source: Laws 1959, p. 734.)
|
|
|
|
|
