Current as of January 01, 2019 | Updated by FindLaw Staff
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§ 538.3. The Fund may borrow an amount of money necessary to effect the purposes of this Article in accord with the plan of operation. The board of directors shall have the authority to pledge all or an appropriate portion of future assessments as necessary to secure a loan that may be needed to pay covered claims. Until all loans secured by assessments are fully satisfied, the board of directors shall assess the maximum allowable under Section 537.6.
Cite this article: FindLaw.com - Illinois Statutes Chapter 215. Insurance § 5/538.3. Borrowing money - last updated January 01, 2019 | https://codes.findlaw.com/il/chapter-215-insurance/il-st-sect-215-5-538-3.html
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