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(215 ILCS 5/123C-23)
Approval of captive reinsurance pools.
Before determining whether to approve a captive insurance company's participation in a captive reinsurance pool under Section 123C-13 of this Code, the Director may:
(1) require the captive insurance company provide to
the Director evidence that the captive reinsurance pool:
(a) is composed only of other captive
insurance companies holding a certificate of authority under this Article or a similar law of another jurisdiction; and
(b) will be able to meet the pool's financial
(2) impose any other limitation or requirement on
the captive insurance company that is necessary and proper to provide adequate security for the captive insurance company.
(Source: P.A. 100-1118, eff. 11-27-18.)