Illinois Statutes
§ 544 — Powers of the Director
Illinois § 544
JurisdictionIllinois
TopicREGULATION
Ch. 215INSURANCE
Act 215 ILCS 5/Illinois Insurance Code.
Art.Article XXXIV - Illinois Insurance Guaranty Fund
This text of Illinois § 544 (Powers of the Director) 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. 544 (2026).
Text
The Director shall either (a) suspend or revoke, after notice and hearing pursuant to Sections 401, 402 and 403 of this Code, the certificate of authority to do business in this State of any member company which fails to pay an assessment when due or fails to comply with the plan of operation, or (b) levy a fine on any member company which fails to pay an assessment when due. Such fine shall not exceed 5% per month of the unpaid assessment, except that no fine shall be less than $200 per month.
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Legislative History
(Source: P.A. 93-32, eff. 7-1-03.)
Nearby Sections
15
Cite This Page — Counsel Stack
Bluebook (online)
Illinois § 544, Counsel Stack Legal Research, https://law.counselstack.com/statute/il/215/544.