(215 ILCS 5/62)
(from Ch. 73, par. 674)
(Section scheduled to be repealed on January 1, 2027)
to exchange contracts.
Individuals, partnerships and corporations of this State are hereby
authorized to exchange reciprocal or inter-insurance contracts with each
other or with individuals, partnerships and corporations of other states
and countries, in accordance with the provisions of this Code and not
otherwise. All insurance contracts so exchanged shall be executed by an
attorney-in-fact duly authorized and acting for the subscribers.
(Source: Laws 1937, p. 696