215 ILCS 5/ Illinois Insurance Code.

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215 ILCS 5/547

(215 ILCS 5/547) (from Ch. 73, par. 1065.97)

Sec. 547. Prevention of insolvencies. To aid in the detection and prevention of company insolvencies:

(a) The board of directors may, upon majority vote,

make recommendations to the Director on matters pertaining to regulation for solvency.

(b) The board of directors may prepare a report on

the history and causes of any company insolvency in which the Fund was obligated to pay covered claims, based on the information available to the Fund, and submit such report to the Director.

(c) The Director may disclose to the Fund the

information described in subsection (g) of Section 132.5 as well as the information described in subsection (c) of Section 131.22, and the Fund may use that information to prepare for the possible liquidation of a member company subject to the requirements and restrictions set forth in Section 132.5.

(Source: P.A. 102-929, eff. 5-27-22.)

215 ILCS 5/548

(215 ILCS 5/548) (from Ch. 73, par. 1065.98)

Sec. 548. Examination of the Fund.

The Fund shall be subject to examination and regulation by the Director.
The board of directors shall, not later than April 30 of each year, submit
a financial report for the preceding calendar year in a form approved by
the Director.

(Source: P.A. 99-388, eff. 1-1-16.)

215 ILCS 5/549

(215 ILCS 5/549) (from Ch. 73, par. 1065.99)

Sec. 549.

Tax
exemption.

The Fund shall be exempt from payment of all fees and all taxes levied
by this State or any of its subdivisions.

(Source: P.A. 77-305.)

215 ILCS 5/550

(215 ILCS 5/550) (from Ch. 73, par. 1065.100)

Sec. 550.

Immunity.

There shall be no liability on the part of and no cause of action of any
nature shall arise against any member company, the Fund or their agents or
employees, the board of directors, or the Director or his representatives
for any action taken or omitted by them in the performance of their powers
and duties under this Article.

(Source: P.A. 77-305.)

215 ILCS 5/551

(215 ILCS 5/551) (from Ch. 73, par. 1065.101)

Sec. 551.

Stay of proceedings.

All proceedings arising out of a claim under a policy of insurance written by
an insolvent company shall be stayed for 120 days from the date of the entry of
the Order of Liquidation to permit proper defense by the Fund of all such
pending causes of action.

(Source: P.A. 92-77, eff. 7-12-01.)

215 ILCS 5/552

(215 ILCS 5/552) (from Ch. 73, par. 1065.102)

Sec. 552.

All provisions of this Article shall be interpreted in
accordance with and pursuant to those Sections of Article XIII of this Code
which may be applicable.

(Source: P.A. 85-576.)

215 ILCS 5/553

(215 ILCS 5/553) (from Ch. 73, par. 1065.103)

Sec. 553.

Severability.

If any provision of this Article or the application thereof to any
claimant, company or circumstance is held invalid, such invalidity does not
affect other provisions or applications of this Article which can be given
effect without the invalid application or provision, and to this end the
provisions of this Article are declared to be severable.

(Source: P.A. 77-305.)

215 ILCS 5/Art. XXXVIII

(215 ILCS 5/Art. XXXVIII heading) ARTICLE XXXVIII.

(Repealed by P.A. 88-379)