Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process.
Recent laws may not yet be included in the ILCS database, but they are found on this site as
Public
Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the
Guide.
Because the statute database is maintained primarily for legislative drafting purposes,
statutory changes are sometimes included in the statute database before they take effect.
If the source note at the end of a Section of the statutes includes a Public Act that has
not yet taken effect, the version of the law that is currently in effect may have already
been removed from the database and you should refer to that Public Act to see the changes
made to the current law.
(215 ILCS 5/107a.09)
Sec. 107a.09.
Service companies for group workers' compensation pools.
(a) No association, corporation, partnership, sole proprietorship, trust, or
other business
entity shall provide services in the design, establishment, or administration
of a group workers'
compensation pool unless it is licensed to do so by the Department. An
applicant for a license shall
state in writing the type of activities it seeks authorization to engage in and
the type of services it
seeks authorization to provide. The license shall be granted only when the
Director is satisfied that
the entity possesses the necessary organization, background, character,
expertise, and
financial integrity to
supply the services sought to be offered. The Department may issue a license
subject to restrictions
or limitations, including restrictions or limitations on the type of services
that may be supplied or
the activities in which the entity may engage. A license issued under this
Section shall be valid for
2 years.
(b) To assure that administrators are financially solvent, that pools are
administered in a fair
and capable fashion, and that administrators are able to process claims and pay
benefits in a prompt,
fair, and equitable manner, entities licensed to engage in those activities
under this Section are
subject to supervision and examination by the Department.
(c) The Department may adopt rules for the purposes of this Article. The
rules shall (i)
establish reporting requirements for administrators for group workers'
compensation pools,
including experience
reporting requirements consistent with those established under this Code for
insurers; (ii) establish
bonding requirements or other provisions assuring the financial integrity of
entities administering
group self-insurance; and (iii) establish other reasonable requirements to
further the purposes of this
Article.
(Source: P.A. 91-757, eff. 1-1-01.)
|
