Article

Illinois Insurance Guaranty Fund

215 ILCS 5/532— Purpose
215 ILCS 5/533— Scope
215 ILCS 5/534— Definitions
215 ILCS 5/534.1— "Fund" means the Illinois Insurance Guaranty Fund created by this Article
215 ILCS 5/534.2— "Director" means the Director of Insurance of the State of Illinois
215 ILCS 5/534.3— Covered claim; unearned premium defined
215 ILCS 5/534.4
215 ILCS 5/534.5— Member company
215 ILCS 5/534.6— "Net direct written premiums" means direct gross premiums written in this State on insurance policies to which this Article applies, less return premiums thereon and dividends paid or credited to policyholders on such direct business
215 ILCS 5/534.7— Affiliate
215 ILCS 5/534.8
215 ILCS 5/534.9— Cybersecurity insurance
215 ILCS 5/535— Creation of the Fund
215 ILCS 5/536— Board of Directors
215 ILCS 5/537— Duties and obligations of the Fund
215 ILCS 5/537.1— The Fund may provide for an equal annual fee of all member companies on a non-pro rata basis to provide for contingent expenses of the Fund
215 ILCS 5/537.2— Obligation of Fund
215 ILCS 5/537.3— Access to insolvent company records
215 ILCS 5/537.4— Fund assumes obligations of insolvent companies
215 ILCS 5/537.6— Allocation of claims; assessments
215 ILCS 5/537.7— Investigation of claims; disposition
215 ILCS 5/537.9— The Fund shall handle claims through its employees or through one or more companies or other persons employed as servicing facilities
215 ILCS 5/538— Powers of the Fund
215 ILCS 5/538.1— The Fund may appear in, defend and appeal any action on a claim brought against it on a covered claim
215 ILCS 5/538.2— The Fund may employ or retain such persons as are necessary to handle claims, provide policy benefits and services, and perform other duties of the Fund
215 ILCS 5/538.3— The Fund may borrow an amount of money necessary to effect the purposes of this Article in accord with the plan of operation
215 ILCS 5/538.4— Legal actions by Fund
215 ILCS 5/538.5— The Fund may negotiate and become a party to such contracts as are necessary to carry out the purposes of this Article
215 ILCS 5/538.7— (a) The Fund may perform such other acts as are necessary or proper to effectuate the purposes of this Article
215 ILCS 5/538.8
215 ILCS 5/538.9— Action regarding insolvent company records
215 ILCS 5/539— Plan of operation
215 ILCS 5/540— The plan of operation shall do the following as enumerated in Sections 540.1 through 540.9
215 ILCS 5/540.1— The plan of operation shall establish the procedures whereby all the powers and duties of the Fund under Sections 537.1 through 537.9 will be performed
215 ILCS 5/540.2— The plan of operation shall establish procedures for handling assets of the Fund
215 ILCS 5/540.3— The plan of operation shall establish the amount and method of reimbursing members of the board of directors under subsection (c) of Section 536
215 ILCS 5/540.5
215 ILCS 5/540.6— The plan of operation shall provide that any member company aggrieved by any final action or decision of the Fund may appeal to the Director within 30 days after the action or decision
215 ILCS 5/540.7— The plan of operation shall establish the procedures whereby selections for the board of directors will be submitted to the Director
215 ILCS 5/540.8— The plan of operation shall establish the procedures for disposition of monies reimbursed from the estate of the insolvent company
215 ILCS 5/540.9— The plan of operation may contain additional provisions necessary or proper for the execution of the powers, duties and obligations of the Fund
215 ILCS 5/541
215 ILCS 5/543— Duties and obligations of the Director
215 ILCS 5/543.1
215 ILCS 5/543.2— The Director shall, upon request of the board of directors, provide the Fund with a statement of the net direct written premiums of each member company for the preceding calendar year for which annual statements have been filed with the Director
215 ILCS 5/543.3— The liquidator of an insolvent company shall notify the policyholders of the insolvent company who are residents of this State of the entry of an Order of Liquidation against the company and of their rights under this Article
215 ILCS 5/544— Powers of the Director
215 ILCS 5/545— Effect of paid claims
215 ILCS 5/546— Other insurance
215 ILCS 5/547— Prevention of insolvencies
215 ILCS 5/548— Examination of the Fund
215 ILCS 5/549— Tax exemption
215 ILCS 5/550— Immunity
215 ILCS 5/551— Stay of proceedings
215 ILCS 5/552— All provisions of this Article shall be interpreted in accordance with and pursuant to those Sections of Article XIII of this Code which may be applicable
215 ILCS 5/553— Severability