(215 ILCS 5/802.1)
Sec. 802.1.
Definitions.
As used in this Article:
(a) "Commercial Building" means any building, other than a residence,
permanently affixed to realty located in Illinois, including basements,
footings, foundations, septic systems and underground pipes directly servicing
the building, but does not include sidewalks, driveways, parking lots, living
units, land, trees, plants, crops or agricultural field drainage tile.
(b) "Commercial Coverage" means mine subsidence insurance for a commercial
building.
(c) "Insurer" or "Insurers" means insurance companies and reciprocals
licensed and authorized to write Class 3 policies of insurance, as defined in
this Code, within Illinois.
(d) "Living Unit" shall mean that physical portion designated for separate
ownership or occupancy for residential purposes, of a building or group of
buildings, permanently affixed to realty located in Illinois, having elements
which are owned or used in common, including a condominium unit, a cooperative
unit or any other similar unit.
(e) "Living Unit Coverage" means mine subsidence insurance for a living unit
covering the losses described in Section 805.1(d).
(f) "Mine Subsidence" means lateral or vertical ground movement caused by a
failure initiated at the mine level, of man-made underground mines, including,
but not limited to coal mines, clay mines, limestone mines, and fluorspar mines
that directly damages residences or commercial buildings. "Mine Subsidence"
does not include lateral or vertical ground movement caused by earthquake,
landslide, volcanic eruption, soil conditions, soil erosion, soil freezing and
thawing, improperly compacted soil, construction defects, roots of trees and
shrubs or collapse of storm and sewer drains and rapid transit tunnels.
(g) "Mine Subsidence Insurance Fund" or "Fund" means the fund established by
this Article.
(h) "Policy" or "policies" means any contract or contracts of insurance
providing the coverage of the Standard Fire Policy and Extended Coverage
Endorsement on any residence, living unit or commercial building. It does not
include those
insurance contracts that are referred to as marine or inland marine policies.
(i) "Premium" or "premiums" means the gross amount charged to policyholders
for the mine subsidence insurance made available under this Article.
(j) "Rates" or "rate schedules" means the rates by which premiums shall be
computed for the mine subsidence insurance made available under this Article.
(k) "Residence" means a building used principally for residential purposes
up
to and including a four family dwelling, permanently affixed to realty located
in Illinois, including appurtenant structures, driveways, sidewalks, basements,
footings, foundations, septic systems and underground pipes directly servicing
the dwelling or building, but does not include living units, land, trees,
plants, crops or agricultural field drainage tile.
(l) "Residential Coverage" means mine subsidence insurance for a
residence.
(m) "Intergovernmental cooperative" means an intergovernmental
cooperative organized pursuant to Article VII, Section 10 of the Illinois
Constitution and Section 6 of the Intergovernmental Cooperation Act.
(Source: P.A. 90-499, eff. 8-19-97.)
|
