Illinois Compiled Statutes 215 ILCS 5/2 – General definitions
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In this Code, unless the context otherwise requires,
(a) “Director” means the Director of Insurance.
(b) “Department” means the Department of Insurance.
(c) “State” or “State of the United States” includes the District of Columbia and a territory or possession of the United States.
(d) “Country” or “Foreign Country” includes a state, province or political subdivision thereof.
(e) “Company” means an insurance or surety company and shall be deemed to include a corporation, company, partnership, association, society, order, individual or aggregation of individuals engaging in or proposing or attempting to engage in any kind of insurance or surety business, including the exchanging of reciprocal or inter-insurance contracts between individuals, partnerships and corporations.
(f) “Domestic Company” means a company incorporated or organized under the laws of this State.
(g) “Foreign Company” means a company incorporated or organized under the laws of any state of the United States other than this State.
(h) “Alien Company” means a company incorporated or organized under the laws of any country other than the United States.
(i) “Mutual Legal Reserve Life Company” means a mutual life company issuing contracts without contingent liability on the policyholder.
(j) “Assessment Legal Reserve Life Company” means a life company issuing contracts providing for contingent liability on the policyholder.
(k) “Reciprocal” includes Inter-Insurance Exchange.
(l) “Person” includes an individual, aggregation of individuals, corporation, association and partnership.
(m) Personal pronouns include all genders, the singular includes the plural and the plural includes the singular.
(n) “Policy” means an insurance policy or contract and includes certificates of fraternal benefit societies, assessment companies, mutual benefit associations, and burial societies.
(o) “Policyholder” means a holder of an insurance policy or contract and includes holders of certificates of fraternal benefit societies, assessment companies, mutual benefit associations, and burial societies.
(p) “Articles of Incorporation” means the basic instrument of an incorporated company and all amendments thereto and includes “Charter,” “Articles of Organization,” “Articles of Reorganization,” “Articles of Association,” and “Deed of Settlement.”
(q) “Officer” when used to refer to an officer of a company includes an attorney-in-fact for a reciprocal or Lloyds.
(a) “Director” means the Director of Insurance.
Terms Used In Illinois Compiled Statutes 215 ILCS 5/2
- 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.
- 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.
- individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- 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
- United States: may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
(b) “Department” means the Department of Insurance.
(c) “State” or “State of the United States” includes the District of Columbia and a territory or possession of the United States.
(d) “Country” or “Foreign Country” includes a state, province or political subdivision thereof.
(e) “Company” means an insurance or surety company and shall be deemed to include a corporation, company, partnership, association, society, order, individual or aggregation of individuals engaging in or proposing or attempting to engage in any kind of insurance or surety business, including the exchanging of reciprocal or inter-insurance contracts between individuals, partnerships and corporations.
(f) “Domestic Company” means a company incorporated or organized under the laws of this State.
(g) “Foreign Company” means a company incorporated or organized under the laws of any state of the United States other than this State.
(h) “Alien Company” means a company incorporated or organized under the laws of any country other than the United States.
(i) “Mutual Legal Reserve Life Company” means a mutual life company issuing contracts without contingent liability on the policyholder.
(j) “Assessment Legal Reserve Life Company” means a life company issuing contracts providing for contingent liability on the policyholder.
(k) “Reciprocal” includes Inter-Insurance Exchange.
(l) “Person” includes an individual, aggregation of individuals, corporation, association and partnership.
(m) Personal pronouns include all genders, the singular includes the plural and the plural includes the singular.
(n) “Policy” means an insurance policy or contract and includes certificates of fraternal benefit societies, assessment companies, mutual benefit associations, and burial societies.
(o) “Policyholder” means a holder of an insurance policy or contract and includes holders of certificates of fraternal benefit societies, assessment companies, mutual benefit associations, and burial societies.
(p) “Articles of Incorporation” means the basic instrument of an incorporated company and all amendments thereto and includes “Charter,” “Articles of Organization,” “Articles of Reorganization,” “Articles of Association,” and “Deed of Settlement.”
(q) “Officer” when used to refer to an officer of a company includes an attorney-in-fact for a reciprocal or Lloyds.