(215 ILCS 5/60e)
(from Ch. 73, par. 672e)
Domestication of Alien Company; definitions.
As used in
Sections 60e through 60i:
(1) "Domestication" means the reorganization of the United States branch
of an alien company as the result of which a domestic company shall succeed
to all the business and assets and assume all the liabilities of the United
States branch of the alien company.
(2) "United States branch" means the business unit through which
business is transacted within the United States by an alien company and the
assets and liabilities of such insurer within the United States pertaining
to such business.
(3) "Domestic Company" means a stock or mutual insurer incorporated
under the laws of this State.
(Source: P.A. 85-1373.)