Insurers engaging in an insurance business transfer under this Article consent to the jurisdiction of the Director with regard to any aspect of the transferred business or business transfer plan, including the authority of the Director to conduct financial analysis and examinations, regardless of whether the insurer has a certificate of authority or another basis for the Director's jurisdiction exists.
215 ILCS 5/1745
Department oversight
Known as the Insurance Business Transfer Law
The act spans §§ 215-5-1701 to 215-5-1750 (12 sections).
P.A. 103-75, eff. 1-1-25.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.