Public Act 097-0603
Public Act 0603 97TH GENERAL ASSEMBLY
|
Public Act 097-0603
| | SB1544 Enrolled | LRB097 06470 RPM 46552 b |
|
| AN ACT concerning insurance.
| Be it enacted by the People of the State of Illinois,
| represented in the General Assembly:
| Section 5. The Illinois Insurance Code is amended by | changing Section 408 as follows:
| (215 ILCS 5/408) (from Ch. 73, par. 1020)
| Sec. 408. Fees and charges.
| (1) The Director shall charge, collect and
give proper | acquittances for the payment of the following fees and charges:
| (a) For filing all documents submitted for the | incorporation or
organization or certification of a | domestic company, except for a fraternal
benefit society, | $2,000.
| (b) For filing all documents submitted for the | incorporation or
organization of a fraternal benefit | society, $500.
| (c) For filing amendments to articles of incorporation | and amendments to
declaration of organization, except for a | fraternal benefit society, a
mutual benefit association, a | burial society or a farm mutual, $200.
| (d) For filing amendments to articles of incorporation | of a fraternal
benefit society, a mutual benefit | association or a burial society, $100.
|
| (e) For filing amendments to articles of incorporation | of a farm mutual,
$50.
| (f) For filing bylaws or amendments thereto, $50.
| (g) For filing agreement of merger or consolidation:
| (i) for a domestic company, except
for a fraternal | benefit society, a
mutual benefit association, a | burial society,
or a farm mutual, $2,000.
| (ii) for a foreign or
alien company, except for a | fraternal
benefit society, $600.
| (iii) for a fraternal benefit society,
a mutual | benefit association, a burial society,
or a farm | mutual, $200.
| (h) For filing agreements of reinsurance by a domestic | company, $200.
| (i) For filing all documents submitted by a foreign or | alien
company to be admitted to transact business or | accredited as a
reinsurer in this State, except for a
| fraternal benefit society, $5,000.
| (j) For filing all documents submitted by a foreign or | alien
fraternal benefit society to be admitted to transact | business
in this State, $500.
| (k) For filing declaration of withdrawal of a foreign | or
alien company, $50.
| (l) For filing annual statement, except a fraternal | benefit
society, a mutual benefit association, a burial | society, or
a farm mutual, $200.
|
| (m) For filing annual statement by a fraternal benefit
| society, $100.
| (n) For filing annual statement by a farm mutual, a | mutual benefit
association, or a burial society, $50.
| (o) For issuing a certificate of authority or
renewal | thereof except to a fraternal benefit society, $200.
| (p) For issuing a certificate of authority or renewal | thereof to a
fraternal benefit society, $100.
| (q) For issuing an amended certificate of authority, | $50.
| (r) For each certified copy of certificate of | authority, $20.
| (s) For each certificate of deposit, or valuation, or | compliance
or surety certificate, $20.
| (t) For copies of papers or records per page, $1.
| (u) For each certification to copies
of papers or | records, $10.
| (v) For multiple copies of documents or certificates | listed in
subparagraphs (r), (s), and (u) of paragraph (1) | of this Section, $10 for
the first copy of a certificate of | any type and $5 for each additional copy
of the same | certificate requested at the same time, unless, pursuant to
| paragraph (2) of this Section, the Director finds these | additional fees
excessive.
| (w) For issuing a permit to sell shares or increase | paid-up
capital:
|
| (i) in connection with a public stock offering, | $300;
| (ii) in any other case, $100.
| (x) For issuing any other certificate required or | permissible
under the law, $50.
| (y) For filing a plan of exchange of the stock of a | domestic
stock insurance company, a plan of | demutualization of a domestic
mutual company, or a plan of | reorganization under Article XII, $2,000.
| (z) For filing a statement of acquisition of a
domestic | company as defined in Section 131.4 of this Code, $2,000.
| (aa) For filing an agreement to purchase the business | of an
organization authorized under the Dental Service Plan | Act
or the Voluntary Health Services Plans Act or
of a | health maintenance
organization or a limited health | service organization, $2,000.
| (bb) For filing a statement of acquisition of a foreign | or alien
insurance company as defined in Section 131.12a of | this Code, $1,000.
| (cc) For filing a registration statement as required in | Sections 131.13
and 131.14, the notification as required by | Sections 131.16,
131.20a, or 141.4, or an
agreement or | transaction required by Sections 124.2(2), 141, 141a, or
| 141.1, $200.
| (dd) For filing an application for licensing of:
| (i) a religious or charitable risk pooling trust or |
| a workers'
compensation pool, $1,000;
| (ii) a workers' compensation service company, | $500;
| (iii) a self-insured automobile fleet, $200; or
| (iv) a renewal of or amendment of any license | issued pursuant to (i),
(ii), or (iii) above, $100.
| (ee) For filing articles of incorporation for a | syndicate to engage in
the business of insurance through | the Illinois Insurance Exchange, $2,000.
| (ff) For filing amended articles of incorporation for a | syndicate engaged
in the business of insurance through the | Illinois Insurance Exchange, $100.
| (gg) For filing articles of incorporation for a limited | syndicate to
join with other subscribers or limited | syndicates to do business through
the Illinois Insurance | Exchange, $1,000.
| (hh) For filing amended articles of incorporation for a | limited
syndicate to do business through the Illinois | Insurance Exchange, $100.
| (ii) For a permit to solicit subscriptions to a | syndicate
or limited syndicate, $100.
| (jj) For the filing of each form as required in Section | 143 of this
Code, $50 per form. The fee for advisory and | rating
organizations shall be $200 per form.
| (i) For the purposes of the form filing fee, | filings made on insert page
basis will be considered |
| one form at the time of its original submission.
| Changes made to a form subsequent to its approval shall | be considered a
new filing.
| (ii) Only one fee shall be charged for a form, | regardless of the number
of other forms or policies | with which it will be used.
| (iii) Fees charged for a policy filed as it will be | issued regardless of the number of forms comprising | that policy shall not exceed $1,500. For advisory or | rating organizations, fees charged for a policy filed | as it will be issued regardless of the number of forms | comprising that policy shall not exceed $2,500 | (Blank).
| (iv) The Director may by rule exempt forms from | such fees.
| (kk) For filing an application for licensing of a | reinsurance
intermediary, $500.
| (ll) For filing an application for renewal of a license | of a reinsurance
intermediary, $200.
| (2) When printed copies or numerous copies of the same | paper or records
are furnished or certified, the Director may | reduce such fees for copies
if he finds them excessive. He may, | when he considers it in the public
interest, furnish without | charge to state insurance departments and persons
other than | companies, copies or certified copies of reports of | examinations
and of other papers and records.
|
| (3) The expenses incurred in any performance
examination | authorized by law shall be paid by the company or person being
| examined. The charge shall be reasonably related to the cost of | the
examination including but not limited to compensation of | examiners,
electronic data processing costs, supervision and | preparation of an
examination report and lodging and travel | expenses.
All lodging and travel expenses shall be in accord
| with the applicable travel regulations as published by the | Department of
Central Management Services and approved by the | Governor's Travel Control
Board, except that out-of-state | lodging and travel expenses related to
examinations authorized | under Section 132 shall be in accordance with
travel rates | prescribed under paragraph 301-7.2 of the Federal Travel
| Regulations, 41 C.F.R. 301-7.2, for reimbursement of | subsistence expenses
incurred during official travel. All | lodging and travel expenses may be reimbursed directly upon | authorization of the
Director. With the exception of the
direct | reimbursements authorized by the
Director, all performance | examination charges collected by the
Department shall be paid
| to the Insurance Producers Administration Fund,
however, the | electronic data processing costs
incurred by the Department in | the performance of any examination shall be
billed directly to | the company being examined for payment to the
Statistical | Services Revolving Fund.
| (4) At the time of any service of process on the Director
| as attorney for such service, the Director shall charge and |
| collect the
sum of $20, which may be recovered as taxable costs | by
the party to the suit or action causing such service to be | made if he prevails
in such suit or action.
| (5) (a) The costs incurred by the Department of Insurance
| in conducting any hearing authorized by law shall be assessed | against the
parties to the hearing in such proportion as the | Director of Insurance may
determine upon consideration of all | relevant circumstances including: (1)
the nature of the | hearing; (2) whether the hearing was instigated by, or
for the | benefit of a particular party or parties; (3) whether there is | a
successful party on the merits of the proceeding; and (4) the | relative levels
of participation by the parties.
| (b) For purposes of this subsection (5) costs incurred | shall
mean the hearing officer fees, court reporter fees, and | travel expenses
of Department of Insurance officers and | employees; provided however, that
costs incurred shall not | include hearing officer fees or court reporter
fees unless the | Department has retained the services of independent
| contractors or outside experts to perform such functions.
| (c) The Director shall make the assessment of costs | incurred as part of
the final order or decision arising out of | the proceeding; provided, however,
that such order or decision | shall include findings and conclusions in support
of the | assessment of costs. This subsection (5) shall not be construed | as
permitting the payment of travel expenses unless calculated | in accordance
with the applicable travel regulations of the |
| Department
of Central Management Services, as approved by the | Governor's Travel Control
Board. The Director as part of such | order or decision shall require all
assessments for hearing | officer fees and court reporter fees, if any, to
be paid | directly to the hearing officer or court reporter by the | party(s)
assessed for such costs. The assessments for travel | expenses of Department
officers and employees shall be | reimbursable to the
Director of Insurance for
deposit to the | fund out of which those expenses had been paid.
| (d) The provisions of this subsection (5) shall apply in | the case of any
hearing conducted by the Director of Insurance | not otherwise specifically
provided for by law.
| (6) The Director shall charge and collect an annual | financial
regulation fee from every domestic company for | examination and analysis of
its financial condition and to fund | the internal costs and expenses of the
Interstate Insurance | Receivership Commission as may be allocated to the State
of | Illinois and companies doing an insurance business in this | State pursuant to
Article X of the Interstate Insurance | Receivership Compact. The fee shall be
the greater fixed amount | based upon
the combination of nationwide direct premium income | and
nationwide reinsurance
assumed premium
income or upon | admitted assets calculated under this subsection as follows:
| (a) Combination of nationwide direct premium income | and
nationwide reinsurance assumed premium.
| (i) $150, if the premium is less than $500,000 and |
| there is
no
reinsurance assumed premium;
| (ii) $750, if the premium is $500,000 or more, but | less
than $5,000,000
and there is no reinsurance | assumed premium; or if the premium is less than
| $5,000,000 and the reinsurance assumed premium is less | than $10,000,000;
| (iii) $3,750, if the premium is less than | $5,000,000 and
the reinsurance
assumed premium is | $10,000,000 or more;
| (iv) $7,500, if the premium is $5,000,000 or more, | but
less than
$10,000,000;
| (v) $18,000, if the premium is $10,000,000 or more, | but
less than $25,000,000;
| (vi) $22,500, if the premium is $25,000,000 or | more, but
less
than $50,000,000;
| (vii) $30,000, if the premium is $50,000,000 or | more,
but less than $100,000,000;
| (viii) $37,500, if the premium is $100,000,000 or | more.
| (b) Admitted assets.
| (i) $150, if admitted assets are less than | $1,000,000;
| (ii) $750, if admitted assets are $1,000,000 or | more, but
less than
$5,000,000;
| (iii) $3,750, if admitted assets are $5,000,000 or | more,
but less than
$25,000,000;
|
| (iv) $7,500, if admitted assets are $25,000,000 or | more,
but less than
$50,000,000;
| (v) $18,000, if admitted assets are $50,000,000 or | more,
but less than
$100,000,000;
| (vi) $22,500, if admitted assets are $100,000,000 | or
more, but less
than $500,000,000;
| (vii) $30,000, if admitted assets are $500,000,000 | or
more, but less
than $1,000,000,000;
| (viii) $37,500, if admitted assets are | $1,000,000,000
or more.
| (c) The sum of financial regulation fees charged to the | domestic
companies of the same affiliated group shall not | exceed $250,000
in the aggregate in any single year and | shall be billed by the Director to
the member company | designated by the
group.
| (7) The Director shall charge and collect an annual | financial regulation
fee from every foreign or alien company, | except fraternal benefit
societies, for the
examination and | analysis of its financial condition and to fund the internal
| costs and expenses of the Interstate Insurance Receivership | Commission as may
be allocated to the State of Illinois and | companies doing an insurance business
in this State pursuant to | Article X of the Interstate Insurance Receivership
Compact.
The | fee shall be a fixed amount based upon Illinois direct premium | income
and nationwide reinsurance assumed premium income in | accordance with the
following schedule:
|
| (a) $150, if the premium is less than $500,000 and | there is
no
reinsurance assumed premium;
| (b) $750, if the premium is $500,000 or more, but less | than
$5,000,000
and there is no reinsurance assumed | premium;
or if the premium is less than $5,000,000 and the | reinsurance assumed
premium is less than $10,000,000;
| (c) $3,750, if the premium is less than $5,000,000 and | the
reinsurance
assumed premium is $10,000,000 or more;
| (d) $7,500, if the premium is $5,000,000 or more, but | less
than
$10,000,000;
| (e) $18,000, if the premium is $10,000,000 or more, but
| less than
$25,000,000;
| (f) $22,500, if the premium is $25,000,000 or more, but
| less than
$50,000,000;
| (g) $30,000, if the premium is $50,000,000 or more, but
| less than
$100,000,000;
| (h) $37,500, if the premium is $100,000,000 or more.
| The sum of financial regulation fees under this subsection | (7)
charged to the foreign or alien companies within the same | affiliated group
shall not exceed $250,000 in the aggregate in | any single year
and shall be
billed by the Director to the | member company designated by the group.
| (8) Beginning January 1, 1992, the financial regulation | fees imposed
under subsections (6) and (7)
of this Section | shall be paid by each company or domestic affiliated group
| annually. After January
1, 1994, the fee shall be billed by |
| Department invoice
based upon the company's
premium income or | admitted assets as shown in its annual statement for the
| preceding calendar year. The invoice is due upon
receipt and | must be paid no later than June 30 of each calendar year. All
| financial
regulation fees collected by the Department shall be | paid to the Insurance
Financial Regulation Fund. The Department | may not collect financial
examiner per diem charges from | companies subject to subsections (6) and (7)
of this Section | undergoing financial examination
after June 30, 1992.
| (9) In addition to the financial regulation fee required by | this
Section, a company undergoing any financial examination | authorized by law
shall pay the following costs and expenses | incurred by the Department:
electronic data processing costs, | the expenses authorized under Section 131.21
and
subsection (d) | of Section 132.4 of this Code, and lodging and travel expenses.
| Electronic data processing costs incurred by the | Department in the
performance of any examination shall be | billed directly to the company
undergoing examination for | payment to the Statistical Services Revolving
Fund. Except for | direct reimbursements authorized by the Director or
direct | payments made under Section 131.21 or subsection (d) of Section
| 132.4 of this Code, all financial regulation fees and all | financial
examination charges collected by the Department | shall be paid to the
Insurance Financial Regulation Fund.
| All lodging and travel expenses shall be in accordance with | applicable
travel regulations published by the Department of |
| Central Management
Services and approved by the Governor's | Travel Control Board, except that
out-of-state lodging and | travel expenses related to examinations authorized
under | Sections 132.1 through 132.7 shall be in accordance
with travel | rates prescribed
under paragraph 301-7.2 of the Federal Travel | Regulations, 41 C.F.R. 301-7.2,
for reimbursement of | subsistence expenses incurred during official travel.
All | lodging and travel expenses may be
reimbursed directly upon the | authorization of the Director.
| In the case of an organization or person not subject to the | financial
regulation fee, the expenses incurred in any | financial examination authorized
by law shall be paid by the | organization or person being examined. The charge
shall be | reasonably related to the cost of the examination including, | but not
limited to, compensation of examiners and other costs | described in this
subsection.
| (10) Any company, person, or entity failing to make any | payment of $150
or more as required under this Section shall be | subject to the penalty and
interest provisions provided for in | subsections (4) and (7)
of Section 412.
| (11) Unless otherwise specified, all of the fees collected | under this
Section shall be paid into the Insurance Financial | Regulation Fund.
| (12) For purposes of this Section:
| (a) "Domestic company" means a company as defined in | Section 2 of this
Code which is incorporated or organized |
| under the laws of this State, and in
addition includes a | not-for-profit corporation authorized under the Dental
| Service Plan Act or the Voluntary Health
Services Plans | Act, a health maintenance organization, and a
limited
| health service organization.
| (b) "Foreign company" means a company as defined in | Section 2 of this
Code which is incorporated or organized | under the laws of any state of the
United States other than | this State and in addition includes a health
maintenance | organization and a limited health service organization | which is
incorporated or organized under the laws
of any | state of the United States other than this State.
| (c) "Alien company" means a company as defined in | Section 2 of this Code
which is incorporated or organized | under the laws of any country other than
the United States.
| (d) "Fraternal benefit society" means a corporation, | society, order,
lodge or voluntary association as defined | in Section 282.1 of this
Code.
| (e) "Mutual benefit association" means a company, | association or
corporation authorized by the Director to do | business in this State under
the provisions of Article | XVIII of this Code.
| (f) "Burial society" means a person, firm, | corporation, society or
association of individuals | authorized by the Director to do business in
this State | under the provisions of Article XIX of this Code.
|
| (g) "Farm mutual" means a district, county and township | mutual insurance
company authorized by the Director to do | business in this State under the
provisions of the Farm | Mutual Insurance Company Act of 1986.
| (Source: P.A. 93-32, eff. 7-1-03; 93-1083, eff. 2-7-05.)
| Section 99. Effective date. This Act takes effect upon | becoming law.
|
Effective Date: 8/26/2011
|
Translate
