Illinois Statutes
§ 179E-25 — Limited purpose of SPRV
Illinois § 179E-25
JurisdictionIllinois
TopicREGULATION
Ch. 215INSURANCE
Act 215 ILCS 5/Illinois Insurance Code.
Art.Article XIE - Special Purpose Reinsurance Vehicle Law
This text of Illinois § 179E-25 (Limited purpose of SPRV) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
215 Ill. Comp. Stat. 179E-25 (2026).
Text
This Article authorizes SPRVs to be created for the limited purpose of entering into insurance securitization transactions with investors and into related agreements to pay one or more ceding insurers agreed upon amounts under an SPRV contract upon the occurrence of triggering events related to the insurance business of the ceding insurer. An SPRV may not issue a contract for assumption of risk or indemnification of loss other than an SPRV contract as defined herein.
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Legislative History
(Source: P.A. 92-124, eff. 7-20-01.)
Nearby Sections
15
§ 179E-1
Short title§ 179E-100
Authority to adopt rules§ 179E-15
Definitions§ 179E-20
Limited certificate of authority§ 179E-25
Limited purpose of SPRV§ 179E-35
Powers§ 179E-40
Affiliation§ 179E-45
Capitalization§ 179E-5
Purpose§ 179E-50
Dividends§ 179E-55
Records and financial reports§ 179E-60
Officers and directors§ 179E-65
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Bluebook (online)
Illinois § 179E-25, Counsel Stack Legal Research, https://law.counselstack.com/statute/il/215/179E-25.