(215 ILCS 5/315.5)
(from Ch. 73, par. 927.5)
(Section scheduled to be repealed on January 1, 2027)
Exemption of certain societies.
(a) Nothing contained in
this amendatory Act shall be so construed as to affect or apply to:
(1) grand or subordinate lodges of societies, orders
or associations now doing business in this State which provide benefits exclusively through local or subordinate lodges;
(2) orders, societies or associations which admit to
membership only persons engaged in one or more crafts or hazardous occupations, in the same or similar lines of business, insuring only their own members and their families, and the ladies' societies or ladies' auxiliaries to such orders, societies or associations;
(3) domestic societies which limit their membership
to employees of a particular city or town, designated firm, business house or corporation which provide for a death benefit of not more than $700 or disability benefits of not more than $650 to any person in any one year, or both; or
(4) domestic societies or associations of a purely
religious, charitable or benevolent description which provide for a death benefit of not more than $400 or for disability benefits of not more than $350 to any one person in any one year, or both.
(b) Any such society or association described in subsections (a)(3) or
(a)(4) supra which provides for death or disability benefits for which
benefit certificates are issued and any such society or association
included in subsection (a)(4) which has more than 1000 members
shall not be exempted from the provisions of this amendatory Act but shall
comply with all requirements thereof.
(c) No society which, by the provisions of this Section, is exempt from
the requirements of this amendatory Act, except any society described in
subsection (a)(2) supra, shall give or allow, or promise to give or allow,
to any person any compensation for procuring new members.
(d) Every society which provides for benefits in case of death or
disability resulting solely from accident and which does not obligate
itself to pay natural death or sick benefits shall have all of the
privileges and be subject to all the applicable provisions and regulations
of this amendatory Act except that the provisions thereof relating to medical
examination, valuations of benefit certificates and incontestability
shall not apply to such society.
(e) The Director may require from any society or association, by
examination or otherwise, such information as will enable the Director to
determine whether such society or association is exempt from the provisions
of this amendatory Act.
(f) Societies exempted under the provisions of this Section shall
also be exempt from all other provisions of the insurance laws of this State.
(Source: P.A. 86-187