§ 5/2-1719 Duties of Director of Insurance

Codes > Illinois Compiled Statutes > Chapter 735 > Act 5 : Article II > Part 17 : 5/2-1719 Duties

§ 2-1719. Duties of Director of Insurance.

    The Director of Insurance shall establish rules and procedures:

    (1) for determining which insurers, self-insurers, plans, arrangements, reciprocals or other entities under his or her regulation are financially qualified to provide the security required under Section 2-1711 and to be designated as qualified insurers;

    (2) to require insurers to post security under Section 2-1711 if found by the court to be obligated and capable of posting security; and

    (3) for publishing prior to January 1 of each year the rate of discount per annum set out in subsection (c) of Section 2-1709.