215 ILCS 5/ Illinois Insurance Code.

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215 ILCS 5/179E-55

(215 ILCS 5/179E-55)

Sec. 179E-55.

Records and financial reports.

(a) The records of the SPRV must be maintained in this State and must be
available
for examination by the Department.  The Director shall have the right to
examine the
records of an SPRV at any time.  No later than 5 months after the fiscal year
end of the
SPRV, the SPRV must file with the Director an audit by a certified public
accounting firm
of the financial statements of the SPRV and the trust accounts.

(b) No later than March 1 of each year, an SPRV organized under this Article
must
file with the Director a statement of operations, including, but not limited
to, a statement of
income, a balance sheet, and a detailed listing of invested assets, including
identification of
assets held in trust to secure the SPRV's obligations under the SPRV contract,
for the year
ending the previous December 31.  The statements shall be prepared in
accordance with
Section 136 of this Code on such forms and shall reveal such information as
shall be
required by the Director.

(c) An SPRV must keep its books and records in a manner so that its
financial
condition, affairs, and operations can be ascertained, its financial statements
filed with the
Director can be readily verified, and its compliance with the provisions of
this Article can be
determined. An SPRV may cause any or all of the books or records to be
photographed,
reproduced on film, or stored and reproduced electronically.

(d) All original books, records, documents, accounts, and vouchers, or
reproductions
of those items, must be preserved and kept available in this State for the
purpose of
examination and until authority to destroy or otherwise dispose of the records
is secured
from the Director. The original records may, however, be kept and maintained
outside this
State if, according to a plan adopted by the SPRV's board of directors and
approved by the
Director, it maintains  other suitable records.

(Source: P.A. 92-124, eff. 7-20-01.)

215 ILCS 5/179E-60

(215 ILCS 5/179E-60)

Sec. 179E-60.

Officers and directors.

(a) The directors of an SPRV shall elect such officers they deem necessary
to
carry
out the purposes of the SPRV pursuant to this Article.  The provisions of
Section 10 of this
Code relating to the indemnification of officers and directors apply to and
govern SPRVs
organized under this Article.

(b) An SPRV authorized to do business in this State must notify the Director
of
the
appointment or election of any new officers or directors within 30 days after
the
appointment or election.

(c) If, after notice and hearing afforded to the officer or director, and
after
a finding
that the officer or director is incompetent or untrustworthy or of known bad
character, the
Director shall order the removal of the person. If the SPRV does not comply
with a removal
order within 30 days, the Director may suspend that SPRV's limited certificate
of authority
until such time as the order is complied with.

(d) An SPRV may not make loans to any SPRV organizer, owner, director,
officer, manager, or affiliate.

(Source: P.A. 92-124, eff. 7-20-01.)

215 ILCS 5/179E-65

(215 ILCS 5/179E-65)

Sec. 179E-65.

Fees and taxes.

The Director may charge fees to reimburse
the
Director for expenses and costs incurred by the Department incident to the
examination of
financial statements and review of the plan of operation and to reimburse other
such
activities of the Director related to the formation and ongoing operation of an
SPRV. An
SPRV is not be subject to State premium or other State taxes incidental to the
operation of
its business as long as the business remains within the limitations of this
Article.

(Source: P.A. 92-124, eff. 7-20-01.)