Illinois Compiled Statutes 215 ILCS 5/69 – Documents to be delivered to Director
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Upon the execution of a declaration of organization, there shall be delivered to the Director
(a) duplicate originals of the declaration of
(a) duplicate originals of the declaration of
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organization;
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(b) a copy of the power of attorney of the
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attorney-in-fact under or by virtue of which such insurance is to be effected or exchanged;
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(c) an instrument authorizing service of process on
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the Director provided for in Section 77;
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(d) 2 organization bonds, or the cash or securities,
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provided for in Section 70;
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(e) the form of guaranty fund agreements and of
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guaranty capital shares, if any, as provided in Section 76 to be issued in connection with solicitation of surplus; and
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(f) the form of escrow agreement for the deposit of
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cash or securities.
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Terms Used In Illinois Compiled Statutes 215 ILCS 5/69
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Service of process: The service of writs or summonses to the appropriate party.