Illinois § 46

Illinois Statutes

§ 46

Illinois § 46

JurisdictionIllinois

TopicREGULATION

Ch. 215INSURANCE

Act 215 ILCS 5/Illinois Insurance Code.

Art.Article III - Domestic Mutual Companies

This text of Illinois § 46 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. 46 (2026).

Text

(Section scheduled to be repealed on January 1, 2027) Sec.

46.Organization bonds. The incorporators shall deliver to the Director two bonds in the same penalties and containing the same provisions, so far as applicable, as the bonds required for the organization of a stock company by Section 16, for the use and benefit of the State of Illinois and subscribers, members and creditors, or in lieu of delivering such bonds, the incorporators may deposit cash or securities of the same kind and amount on the same terms and conditions, so far as applicable, as provided by said Section.

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(Section scheduled to be repealed on January 1, 2027) Sec. 46. Organization bonds. The incorporators shall deliver to the Director two bonds in the same penalties and containing the same provisions, so far as applicable, as the bonds required for the organization of a stock company by Section 16, for the use and benefit of the State of Illinois and subscribers, members and creditors, or in lieu of delivering such bonds, the incorporators may deposit cash or securities of the same kind and amount on the same terms and conditions, so far as applicable, as provided by said Section.