(1) Every service plan contract of a dental service plan corporation which provides that the continued coverage of a beneficiary is contingent upon the continued employment of the subscriber with a particular employer shall further provide for the continuance of such contract in accordance with the requirements set forth in § 367.2 of the Illinois Insurance Code.
     (2) The requirements of this Section shall apply to all such contracts delivered, issued for delivery, renewed, or amended on or after December 1, 1985 (the effective date of Public Act 84-556).

Terms Used In Illinois Compiled Statutes 215 ILCS 110/47

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • 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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