(215 ILCS 165/27)
(from Ch. 32, par. 621)
Health services plan corporations organized under this Act shall be
operated and conducted not-for-profit and shall be governed by the
provisions of the "General Not for Profit Corporation Act", approved July
17, 1943, as amended, to such extent as the same may be applicable and not
inconsistent with this Act. Every corporation organized hereunder is
declared to be 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 the fees and charges imposed by
Sections 408 and 408.2 of the "Illinois Insurance Code", approved
June 29, 1937, as amended.
(Source: P.A. 84-989.)