Illinois § 60e Domestication of Alien Company; definitions

Illinois Statutes

§ 60e — Domestication of Alien Company; definitions

Illinois § 60e

JurisdictionIllinois

TopicREGULATION

Ch. 215INSURANCE

Act 215 ILCS 5/Illinois Insurance Code.

Art.Article III 1/2 - Alien Companies

This text of Illinois § 60e (Domestication of Alien Company; definitions) 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. 60e (2026).

Text

As used in Sections 60e through 60i:

(1)"Domestication" means the reorganization of the United States branch of an alien company as the result of which a domestic company shall succeed to all the business and assets and assume all the liabilities of the United States branch of the alien company.

(2)"United States branch" means the business unit through which business is transacted within the United States by an alien company and the assets and liabilities of such insurer within the United States pertaining to such business.

(3)"Domestic Company" means a stock or mutual insurer incorporated under the laws of this State.

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As used in Sections 60e through 60i: (1) "Domestication" means the reorganization of the United States branch of an alien company as the result of which a domestic company shall succeed to all the business and assets and assume all the liabilities of the United States branch of the alien company. (2) "United States branch" means the business unit through which business is transacted within the United States by an alien company and the assets and liabilities of such insurer within the United States pertaining to such business. (3) "Domestic Company" means a stock or mutual insurer incorporated under the laws of this State.