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Code · Illinois · Chapter 215 — INSURANCE · Act 5

(Section scheduled to be repealed on January 1, 2027)

107 words·~1 min read·/il/chapter-215/act-5/1-266

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(Section scheduled to be repealed on January 1, 2027)
Sec. 93. Bonds. The attorney-in-fact for any domestic Lloyds in the process of organization shall deliver to the Director two bonds in the same penalties and containing the same provisions so far as applicable as the bonds required for the organization of a stock company by Section 16, for the use and benefit of the State of Illinois, the underwriters and creditors, or in lieu of delivering such bonds the attorney-in-fact may deposit cash or securities of the same kind or amount and on the same terms and conditions so far as applicable as provided by said Section.
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