As used in Sections 60e through 60i: (1) "Domestication" means the reorganization of the United States branch of an alien company as the result of which a domestic company shall succeed to all the business and assets and assume all the liabilities of the United States branch of the alien company. (2) "United States branch" means the business unit through which business is transacted within the United States by an alien company and the assets and liabilities of such insurer within the United States pertaining to such business. (3) "Domestic Company" means a stock or mutual insurer incorporated under the laws of this State.
215 ILCS 5/60e
Domestication of Alien Company; definitions
P.A. 85-1373.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.