Illinois Statutes
§ 69.1
Illinois § 69.1
JurisdictionIllinois
TopicREGULATION
Ch. 215INSURANCE
Act 215 ILCS 5/Illinois Insurance Code.
Art.Article IV - Reciprocals
This text of Illinois § 69.1 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. 69.1 (2026).
Text
(Section scheduled to be repealed on January 1, 2027) Sec. 69.1. Escrow agreements. The company shall designate a bank or trust company with whom it will enter into an escrow agreement, which agreement shall state that the organization surplus shall be placed in escrow and remain so, until an organization examination has been completed. When the exam has been completed the escrow agent is authorized to purchase securities for deposit as required by Section 74 and forward them to the Director. The escrow agent is authorized to release the balance of the escrow funds to the company only upon notification that a Certificate of Authority or similar documentation has been issued by the Director.
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Legislative History
(Source: P.A. 84-502 .)
Cite This Page — Counsel Stack
Bluebook (online)
Illinois § 69.1, Counsel Stack Legal Research, https://law.counselstack.com/statute/il/215/69.1.