(805 ILCS 180/1-25)
Nature of business.
(a) A limited liability company may be formed
for any lawful purpose or business except insurance unless, for the purpose of carrying on business as a member
of a group including incorporated and individual unincorporated underwriters,
the Director of Insurance finds that the group meets the requirements of
subsection (3) of Section 86 of the Illinois Insurance Code and the limited
liability company, if insolvent, is subject to liquidation by the Director of
Insurance under Article XIII of the Illinois Insurance Code.
(d) A limited liability company that intends to provide a professional service licensed by the Department of Financial and Professional Regulation must be formed in compliance with the Professional Limited Liability Company Act.
(Source: P.A. 99-227, eff. 8-3-15; 100-894, eff. 8-14-18.)