(215 ILCS 5/73)
(from Ch. 73, par. 685)
(Section scheduled to be repealed on January 1, 2027)
certificate of authority.
When the Director has been notified that the required surplus has been
fully collected, he shall conduct an examination of the reciprocal. If he
finds that the organization is complete, that all of the requirements of
this Code have been met, that the required surplus has been fully
collected, and that the deposits provided for by Section 74 have been
met, he shall issue to the attorney-in-fact a certificate of authority to
transact the kind or kinds of business specified therein. No
attorney-in-fact shall transact any business of insurance until he or it
has received a certificate of authority as herein prescribed nor any
business of insurance not specified in such certificate of authority.
(Source: Laws 1951, p. 1565