Act
Religious and Charitable Risk Pooling Trust Act
- 215 ILCS 150/1— This Act shall be known and may be cited as the "Religious and Charitable Risk Pooling Trust Act"
- 215 ILCS 150/2— Authorized organizations; purpose
- 215 ILCS 150/3— The trust fund shall be established and amended only by a written instrument which shall be filed with and approved by the Director of Insurance prior to its becoming effective
- 215 ILCS 150/4
- 215 ILCS 150/5
- 215 ILCS 150/6— Risk pools; risk retention groups
- 215 ILCS 150/7— The trustees of all trust funds established under this Act shall be natural persons over the age of 18 who are residents of this State
- 215 ILCS 150/8— Every such trust fund shall have no fewer than 3 nor more than 30 trustees
- 215 ILCS 150/9— (a) No trustee shall be paid a salary or receive other compensation, except the written trust instrument may provide for reimbursement for actual expenses incurred on behalf of the trust fund
- 215 ILCS 150/10— The trustees shall serve pursuant to the terms of the written trust instrument except that at any time no less than a majority of the beneficiaries may remove a trustee with or without cause
- 215 ILCS 150/11— In case any trustee shall be removed, resign, or cease to serve for any reason, no less than a majority of the beneficiaries shall appoint a successor
- 215 ILCS 150/12— No trustees or successor trustee shall serve for more than 3 consecutive years unless he is reappointed by a majority of the beneficiaries
- 215 ILCS 150/13— The trustees shall have the powers specified in the written trust instrument which established the trust fund
- 215 ILCS 150/14
- 215 ILCS 150/14.1— Contribution Certificate
- 215 ILCS 150/15— Ineligible beneficiaries
- 215 ILCS 150/16— The written trust instrument may provide that a beneficiary who becomes ineligible may continue to receive benefits for no longer than 90 days beyond the date the beneficiary or any trustee first discovers such ineligibility
- 215 ILCS 150/17— No beneficiary shall have any cause of action against any other beneficiary arising solely out of the insolvency or inability of the trust fund to meet its obligations
- 215 ILCS 150/18— No trust fund established under this Act shall grant any power to the trustees which is inconsistent with this Act or any other law of this State
- 215 ILCS 150/19— Every trust fund established hereunder shall include in the written trust instrument the basis on which payments are made to and from the trust fund
- 215 ILCS 150/20— The Director of Insurance may make reasonable rules and regulations as may be necessary for the administration of this Act
- 215 ILCS 150/21— Trust funds established under this Act and all persons interested therein or dealing therewith shall be subject to the provisions of Sections 133, 149, 401, 402 and 403 of the Illinois Insurance Code, as amended
- 215 ILCS 150/22— The Director of Insurance shall have with respect to trust funds established under this Act the powers of examination conferred upon him relative to insurance companies by Sections 132 through 132.7 of the Illinois Insurance Code
- 215 ILCS 150/23— The Director of Insurance shall charge, collect and give proper acquittances for the payment of fees and charges as set forth in Section 408 of the Illinois Insurance Code
- 215 ILCS 150/24— This Act shall apply regardless of any contrary provisions of any instrument
- 215 ILCS 150/25— Trust funds established under and which fully comply with this Act shall not be considered insurance companies or to be in the business of insurance nor shall they be subject to regulation under the Illinois Insurance Code, as amended, except as provided for in this Act
- 215 ILCS 150/25.1
- 215 ILCS 150/26— The provisions of the Administrative Review Law, as amended, shall apply to and govern all proceedings for the judicial review of final administrative decisions under this Act
- 215 ILCS 150/27
- 215 ILCS 150/28— This Act shall become effective upon its becoming a law