Section 852.20  Definitions

Terms found in this Part, other than those defined in this Section, are used as defined in Section 131.1 of the Insurance Code [215 ILCS 5/131.1].

Code means the Illinois Insurance Code [215 ILCS 5].

Department means the Department of Financial and Professional Regulation.

Director means the Director of the Illinois Department of Financial and Professional Regulation-Division of Insurance (see Section 1-2(2) of the Act).

Division means the Illinois Department of Financial and Professional Regulation-Division of Insurance.

            Executive officer means any individual charged with active management and control in a senior executive capacity as described by the company's by-laws (including a president, senior vice president, treasurer, secretary, controller, and any other individual regardless of title performing functions the same as those performed by the foregoing officers).

            Foreign insurer shall include an alien insurer except where clearly noted otherwise.

Secretary means the Secretary of the Illinois Department of Financial and Professional Regulation.

            Ultimate controlling person means any controlling person within an insurance holding company system who is not controlled by any other person.

(Source:  Amended at 31 Ill. Reg. 4031, effective February 23, 2007)