Illinois Statutes Chapter 215. Insurance § 5/27. Dividends and other distributions

(a) No dividend or other distribution may be declared or paid at any time except out of earned, as distinguished from contributed, surplus, nor when the surplus of the company is less than the surplus required by Section 13 for the kind or kinds of business authorized to be transacted by such company, nor when the payment of a dividend or other distribution would reduce its surplus to less than such amount.

(b) Except in the case of share dividends, surplus for determining whether dividends or other distributions may be declared shall not include surplus arising from unrealized appreciation in value, or revaluation of assets, or from unrealized profits upon investments.

(c) No dividend or other distribution may be declared or paid contrary to any restriction contained in the articles of incorporation.

(d) No dividend or other distribution may be declared or paid contrary to Section 131.20 or 131.20a.