Illinois Compiled Statutes 215 ILCS 5/91 – Declaration of domestic Lloyds
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The attorney-in-fact for underwriters who desire to form a domestic Lloyds under this Article shall sign and acknowledge before an officer authorized to take acknowledgments, a declaration in duplicate. When the attorney-in-fact is a corporation the declaration shall be acknowledged by an officer of such corporation. The declaration shall set forth
(a) the name of the attorney-in-fact, and the name or
(a) the name of the attorney-in-fact, and the name or
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designation under which contracts are to be effected;
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(b) the location of the office of the
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attorney-in-fact;
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(c) the names and addresses, including streets and
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numbers, if any, of the underwriters;
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(d) the class or classes of insurance which such
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Lloyds proposes to transact and the kinds of insurance in each class which it proposes to write;
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(e) such other provisions not inconsistent with law
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which may be deemed by the attorney-in-fact or the underwriters to be necessary or advisable.
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Terms Used In Illinois Compiled Statutes 215 ILCS 5/91
- Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.