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Code · Illinois · Chapter 215 — INSURANCE · Act 155

Sec. 8. Retained liability.

82 words·~1 min read·/il/chapter-215/act-155/8

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Sec. 8. Retained liability.
(a)The net retained liability of a title insurance company for a single risk on property located in this State, whether assumed directly or as reinsurance, may not exceed the total surplus to policyholders as shown in the most recent annual statement of the title insurance company on file with the Department.
(b)The Secretary may waive the limitation of this Section for a particular risk upon application of the title insurance company and for good cause shown.
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