Section 854.30  Prior Notification of Transactions - Required Information

a)         Any domestic company required, pursuant to Section 131.20a(1) of the Illinois Insurance Code, to notify the Director of a transaction between it and any person in its holding company system shall notify the Director of the transaction in writing at least 30 days prior to entering into such transaction.  Such notice shall be deemed incomplete unless all the information required by this Part has been included therein.

b)         The Director shall, within the 30 day period, disapprove such transactions if the standards as contained in Section 131.20 of the Illinois Insurance Code (Ill. Rev. Stat. 1991, ch. 73, par. 743.20) [215 ILCS 5/131.20] have not been met.

c)         The domestic company shall provide to the Director the information required by, and in the format specified by, Form D-1 which is Illustration A to this Part.

d)         The notification shall be directed to the Deputy Director of the Financial-Corporate Regulatory Division of the Illinois Department of Insurance, Springfield, Illinois 62767.

(Source:  Amended at 18 Ill. Reg. 6176, effective April 6, 1994)