(215 ILCS 5/308.1) (from Ch. 73, par. 920.1)
(Section scheduled to be repealed on January 1, 2027)
Sec. 308.1.
Examination of societies - adverse publications.
(a) The
Director, or any person he or she may appoint, may examine any domestic,
foreign or alien society transacting or applying for admission to transact
business in this State in the same manner as authorized for examination of
domestic, foreign or alien insurance companies. Requirements of notice and
an opportunity to respond before findings are made public as provided in
the laws regulating insurance companies shall also be applicable to the
examination of societies.
(b) The expense of each examination and of each valuation, including
compensation and actual expense of examiners, shall be paid by the society
examined or whose certificates are valued, upon statements furnished by the Director.
(Source: P.A. 84-303.)
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