(215 ILCS 5/107a.05)
Definitions and interchangeable terms.
(a) Unless otherwise provided, the following definitions shall apply:
"Authorized insurer" means an insurer licensed in this State to
transact business as described
in Clauses (c) and (d) of Class 2 of Section 4 of this Code.
"Calendar Quarter" means the 3-month periods ending March 31, June 30,
and December 31.
"Director" means the Director of Insurance.
"Engaged actively in the business" means a bona fide business concern having
commerce, trade, or industry in this State for a specified period of time. Any
and all records relating
to this requirement shall be open to inspection by the Director or his designee
"Gross annual payroll" means payroll for the preceding fiscal year.
"Independent actuarial opinion" means an opinion expressed by a member of the
Academy of Actuaries or Casualty Actuarial Society.
"Independent CPA" means an independent certified public accountant or
certified public accounting firm in good standing and licensed to practice by
the Department of
"Pool" means a qualified group workers' compensation pool as authorized by
"Qualified group workers' compensation pool" means a group workers'
that has received a certificate of authority pursuant to this Article.
(b) For purposes of incorporating the provisions of this Code designated in
and (2) of subsection (a) of Section 107a.04 into this Article, the following
terms shall be
"Contribution" shall be considered premium.
"Pooling agreement" shall be considered a policy of insurance.
"Trustees of a group workers' compensation pool" shall be considered as
though they were
directors of a domestic mutual insurance company.
(Source: P.A. 91-757, eff. 1-1-01.)