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Code · Illinois · Chapter 215 — INSURANCE · Act 5

(Section scheduled to be repealed on January 1, 2027)

130 words·~1 min read·/il/chapter-215/act-5/1-244

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(Section scheduled to be repealed on January 1, 2027)
Sec. 73. Issuance of certificate of authority. When the Director has been notified that the required surplus has been fully collected, he shall conduct an examination of the reciprocal. If he finds that the organization is complete, that all of the requirements of this Code have been met, that the required surplus has been fully collected, and that the deposits provided for by Section 74 have been met, he shall issue to the attorney-in-fact a certificate of authority to transact the kind or kinds of business specified therein.
No attorney-in-fact shall transact any business of insurance until he or it has received a certificate of authority as herein prescribed nor any business of insurance not specified in such certificate of authority.
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