(215 ILCS 110/43) (from Ch. 32, par. 690.43)
Sec. 43.
Every dental service plan corporation organized hereunder shall be
operated and conducted not-for-profit and shall be deemed a charitable and
benevolent corporation, and all of its funds and property shall be exempt
from every State, county, district, municipal and school tax or assessment,
and all other taxes and license fees, from the payment of which charitable
and benevolent corporations or institutions are now or may hereafter be
exempt. This exemption shall not prevail against fees and charges imposed
by Sections 408, 408.2, 409, 444, and 444.1 of the Illinois
Insurance Code.
The laws of this state applicable to the merger, dissolution and
liquidation of domestic not-for-profit corporations and in respect to the
rights, classification and meetings of members, the selection, change,
duties and powers of corporate officers, and the filing of annual reports
by domestic not-for-profit corporations shall be applicable to corporations
organized under this act to the extent the same are not inconsistent with
the provisions of this act. Wherever in any such laws reference is made to
"Directors" of such not-for-profit corporations, such statutory provisions
shall be deemed to apply to the trustees of corporations organized under
this act, and wherever the office of the Secretary of State is mentioned in
such an act, such provisions shall be deemed to refer to and designate the
Director of Insurance when applied to corporations organized hereunder.
(Source: P.A. 90-583, eff. 5-29-98.)
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