(215 ILCS 5/123D-10)
Organization of nonprofit risk organizations.
(a) A company organized pursuant to Articles III or IV, including such
companies organized as a risk retention group in this State pursuant to Article
this Code, that satisfies the requirements of this Article may be organized as
(b) Notwithstanding any contrary provision in subsection A of Section 123B-3
this Code, a nonprofit risk organization may be organized as a reciprocal
company and qualify for organization under Article VIIB as a risk retention
(c) No nonprofit risk organization issued a certificate of authority
pursuant to this
Article shall be converted into a corporation or other entity organized for
or into a for-profit organization of any kind.
(Source: P.A. 93-918, eff. 1-1-05.)