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Illinois Statutes Chapter 215. Insurance § 5/68. Declaration of Organization

Current as of January 01, 2025 | Updated by Findlaw Staff

§ 68. Declaration of Organization. The attorney-in-fact of subscribers who desire to form a reciprocal under this article shall sign and acknowledge, before an officer authorized to take acknowledgments, a declaration of organization in duplicate. When the attorney-in-fact is a corporation, the declaration shall be acknowledged by an officer thereof. The declaration shall set forth

(a) the name of the attorney-in-fact and the name or designation under which contracts are to be exchanged;

(b) the location of the principal office of the attorney-in-fact;

(c) the class or classes of insurance, as provided in section 65, which it proposes to effect or exchange and the kinds of insurance in each class to be effected or exchanged;

(d) such other provisions not inconsistent with law which may be deemed by the attorney-in-fact or subscribers to be necessary or advisable.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 215. Insurance § 5/68. Declaration of Organization - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-215-insurance/il-st-sect-215-5-68/

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