(215 ILCS 5/132.6)
(from Ch. 73, par. 744.6)
Conflict of interest.
(a) No examiner may be appointed by the Director if that examiner,
either directly or indirectly, has a conflict of interest, is affiliated with the
management of, or owns a pecuniary interest in any person subject to
examination. This Section shall not be construed to automatically preclude
an examiner from being:
(1) A policyholder or claimant under an insurance
(2) A grantor of a mortgage or similar instrument on
the examiner's residence to a regulated entity if done under customary terms and in the ordinary course of business.
(3) An investment owner in shares of regulated
diversified investment companies.
(4) A settlor or beneficiary of a "blind trust" into
which any otherwise impermissible holdings have been placed.
(b) Notwithstanding the provisions of this Section, the Director may
retain from time to time, on an individual basis, qualified actuaries,
certified public accountants, or other similar individuals who are
independently practicing their professions, even though those persons may
from time to time be similarly
employed or retained by persons subject to examination under this Code.
(Source: P.A. 87-108.)