Sec. 2. General definitions.

349 words·~2 min read·/il/chapter-215/act-5/2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

In this Code, unless the context otherwise requires,

(a)"Director" means the Director of Insurance.

(b)"Department" means the Department of Insurance.

(c)"State" or "State of the United States" includes the District of Columbia and a territory or possession of the United States.

(d)"Country" or "Foreign Country" includes a state, province or political subdivision thereof.

(e)"Company" means an insurance or surety company and shall be deemed to include a corporation, company, partnership, association, society, order, individual or aggregation of individuals engaging in or proposing or attempting to engage in any kind of insurance or surety business, including the exchanging of reciprocal or inter-insurance contracts between individuals, partnerships and corporations.

(f)"Domestic Company" means a company incorporated or organized under the laws of this State.

(g)"Foreign Company" means a company incorporated or organized under the laws of any state of the United States other than this State.

(h)"Alien Company" means a company incorporated or organized under the laws of any country other than the United States.

(i)"Mutual Legal Reserve Life Company" means a mutual life company issuing contracts without contingent liability on the policyholder.

(j)"Assessment Legal Reserve Life Company" means a life company issuing contracts providing for contingent liability on the policyholder.

(k)"Reciprocal" includes Inter-Insurance Exchange.

(l)"Person" includes an individual, aggregation of individuals, corporation, association and partnership.

(m)Personal pronouns include all genders, the singular includes the plural and the plural includes the singular.

(n)"Policy" means an insurance policy or contract and includes certificates of fraternal benefit societies, assessment companies, mutual benefit associations, and burial societies.

(o)"Policyholder" means a holder of an insurance policy or contract and includes holders of certificates of fraternal benefit societies, assessment companies, mutual benefit associations, and burial societies.

(p)"Articles of Incorporation" means the basic instrument of an incorporated company and all amendments thereto and includes "Charter," "Articles of Organization," "Articles of Reorganization," "Articles of Association," and "Deed of Settlement."

(q)"Officer" when used to refer to an officer of a company includes an attorney-in-fact for a reciprocal or Lloyds.