Illinois Administrative Code (Last Updated: March 27, 2024) |
TITLE50. INSURANCE |
PART1305. PRIOR NOTIFICATION OF DIVIDENDS OR DISTRIBUTIONS |
§1305.10. Purpose
Latest version.
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The purpose of this Part is to describe the information that shall be provided to the Director by a domestic captive insurance company to notify the Director to seek approval of all dividends and other distributions under Section 123C-26 of the Illinois Insurance Code and provide penalties for the failure to comply with this Part.