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Code · Illinois · Chapter 215 — INSURANCE · Act 120

Sec. 4. Definition of Admitted Assets.

140 words·~1 min read·/il/chapter-215/act-120/4

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Sec. 4. Definition of Admitted Assets. Admitted assets shall include those investments permitted under Section 12 of this Act and in addition thereto, only the following:
(1)Cash funds held in the company's office and under the company's control.
(2)Interest due and accrued on bonds, certificates of deposit and other investments permitted by this Act that are not in default.
(3)Dividends declared and unpaid on mutual funds, common stock, and preferred stock, permitted by this Act.
(4)Amounts recoverable from solvent insurance companies licensed to do business in this State.
(5)Tax refunds due from the United States or the State of Illinois.
(6)Premiums receivable on policies not over 90 days past due. The due date of the premium shall be considered to be the first day of the coverage period for which the premium is payable.
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