Illinois Compiled Statutes 215 ILCS 5/123D-1 – Purpose; construction.The purpose of this Article is to provide for …
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Terms Used In Illinois Compiled Statutes 215 ILCS 5/123D-1
- Nonprofit organizations: means organizations described in paragraph (3) of subsection (c), and exempt from taxation under subsection (a), of Section 501 of the Internal Revenue Code. See Illinois Compiled Statutes 215 ILCS 5/123D-5
Purpose; construction.The purpose of this Article is to provide for the organization of and issuance of a certificate of authority to nonprofit risk organizations that insure nonprofit organizations and that will qualify, and continue to qualify, as a qualified charitable risk pool, as defined in subsection (n) of Section 501 of the Internal Revenue Code.