(215 ILCS 5/3.1)
(from Ch. 73, par. 615.1)
Definitions of admitted assets.
"Admitted Assets" includes the
investments authorized or permitted by this Code, the credit for reinsurance
allowed by this Code, and in addition thereto, only the following:
(1) Amounts, other than premium, receivable from affiliates,
not outstanding for more than 3 months, and arising under,
management contracts or
service agreements which meet the requirements of Section 141.1 of the
Illinois Insurance Code to the extent that the affiliate has liquid assets
sufficient to pay the balance. The amount of those
receivables included in admitted assets may not exceed the
lesser of 5% of the company's admitted assets or 10% of the company's surplus
as regards policyholders. For purposes of this
subsection, "affiliate" has the meaning given that term in Article VIII 1/2 of
the Illinois Insurance Code.
(2) Amounts permitted under Section 136.
(Source: P.A. 90-418, eff. 8-15-97; 91-549, eff. 8-14-99.)