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.

Terms Used In Illinois Compiled Statutes 215 ILCS 5/68

  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • attorney-in-fact: shall mean the representative of the subscribers. See Illinois Compiled Statutes 215 ILCS 5/61
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • reciprocal: shall mean the organization or group of all the subscribers. See Illinois Compiled Statutes 215 ILCS 5/61
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