Illinois Compiled Statutes 215 ILCS 123/10 – Definitions
Current as of: 2024 | Check for updates
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Words and phrases used in this Act, unless defined in this Section, have the meanings attributed to them in § 5 of the Illinois Health Insurance Portability and Accountability Act.
“Director” means the Director of Insurance.
“Employer” means an individual, sole proprietorship, partnership, firm, corporation, association, or any other legal entity that has one or more employees and is legally doing business in this State. “Employer” includes employers as defined in the Illinois Health Insurance Portability and Accountability Act.
“Health insurance contract”, “group or master health insurance contract” and “insurance” refer to the forms of insurance obligations which a “risk-bearer” as defined in this Section has been authorized to issue.
“Risk-bearer” means an insurance company licensed in this State and authorized to transact the kinds of business described in clause (b) of Class 1 and clause (a) of Class 2 of § 4 of the Illinois Insurance Code and entities authorized under the Health Maintenance Organization Act.
“Director” means the Director of Insurance.
Terms Used In Illinois Compiled Statutes 215 ILCS 123/10
- 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.
- individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
“Employer” means an individual, sole proprietorship, partnership, firm, corporation, association, or any other legal entity that has one or more employees and is legally doing business in this State. “Employer” includes employers as defined in the Illinois Health Insurance Portability and Accountability Act.
“Health insurance contract”, “group or master health insurance contract” and “insurance” refer to the forms of insurance obligations which a “risk-bearer” as defined in this Section has been authorized to issue.
“Risk-bearer” means an insurance company licensed in this State and authorized to transact the kinds of business described in clause (b) of Class 1 and clause (a) of Class 2 of § 4 of the Illinois Insurance Code and entities authorized under the Health Maintenance Organization Act.