The Department of Insurance has the following powers:
        (1) To exercise the rights, powers, and duties vested
    
by law in the insurance superintendent and the superintendent’s officers and employees.
        (2) To exercise the rights, powers, and duties that
    
have been vested by law in the Department of Trade and Commerce as the successor of the insurance superintendent and the superintendent’s officers and employees.
        (3) To exercise the rights, powers, and duties
    
heretofore vested by law in the Department of Trade and Commerce or in the Director of Trade and Commerce by:
            (A) all laws in relation to insurance; and

Terms Used In Illinois Compiled Statutes 20 ILCS 1405/1405-5

  • Heretofore: means any time previous to the day on which the statute takes effect; and the word "hereafter" at any time after such day. See Illinois Compiled Statutes 5 ILCS 70/1.17
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14

            (B) Article 22 of the Illinois Pension Code.
        (4) To execute and administer all laws heretofore or
    
hereafter enacted relating to insurance.
        (5) To transfer jurisdiction of any realty under the
    
control of the Department to any other department of the State Government or to acquire or accept federal lands when the transfer, acquisition, or acceptance is advantageous to the State and is approved in writing by the Governor.
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