Illinois Compiled Statutes 215 ILCS 5/14.1 – Articles of incorporation
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The articles shall set forth:
(a) the corporate name;
(b) the location of its principal office;
(c) the period of duration, which may be perpetual;
(d) the class or classes of insurance business as
(a) the corporate name;
(b) the location of its principal office;
(c) the period of duration, which may be perpetual;
(d) the class or classes of insurance business as
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provided in Section 4, in which it proposes to engage and the kinds of insurance in each class it proposes to write;
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(e) the number of its directors, or that the number
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of directors shall be not less than the minimum nor more than the maximum stated in Section 10, the terms of office; and the manner of electing the directors;
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(f) the amount of its authorized capital, the number
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of authorized common and non-voting preferred shares, the par value of each share, and the number of the common and non-voting preferred shares to be issued and sold in accordance with this Article to provide at least the minimum paid-up capital and paid-in surplus as set forth in Section 13 of this Article;
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(g) the terms and conditions on which preferred
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shares may be converted to common shares, if any shares are issued with the right of conversion;
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(h) such other provisions not inconsistent with law
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as may be deemed by the incorporators to be necessary or advisable.
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