The attorney-in-fact for underwriters who desire to form a domestic Lloyds under this Article shall sign and acknowledge before an officer authorized to take acknowledgments, a declaration in duplicate. When the attorney-in-fact is a corporation the declaration shall be acknowledged by an officer of such corporation. The declaration shall set forth
         (a) the name of the attorney-in-fact, and the name or
    
designation under which contracts are to be effected;
        (b) the location of the office of the
    
attorney-in-fact;
        (c) the names and addresses, including streets and
    
numbers, if any, of the underwriters;
        (d) the class or classes of insurance which such
    
Lloyds proposes to transact and the kinds of insurance in each class which it proposes to write;
        (e) such other provisions not inconsistent with law
    
which may be deemed by the attorney-in-fact or the underwriters to be necessary or advisable.

Terms Used In Illinois Compiled Statutes 215 ILCS 5/91

  • 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.
  • 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.
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