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Illinois Statutes Chapter 215. Insurance § 120/7. Additional Territory

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§ 7. Additional Territory. Any farm mutual insurance company may amend its articles of incorporation to include other adjoining counties, provided that the company's net written premium did not exceed 3 times its policyholders' surplus as reported in its last financial statement. Subject to the approval of the Director of Insurance, any company having $150,000 policyholders' surplus may add one contiguous county to its territory, and may add one additional contiguous county for each additional $50,000 policyholders' surplus thereafter.

Cite this article: - Illinois Statutes Chapter 215. Insurance § 120/7. Additional Territory - last updated January 01, 2022 |

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