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§ 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 obligations; and
(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.
Cite this article: FindLaw.com - Illinois Statutes Chapter 215. Insurance § 5/123C-23. Approval of captive reinsurance pools - last updated January 01, 2019 | https://codes.findlaw.com/il/chapter-215-insurance/il-st-sect-215-5-123c-23/
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