Illinois Compiled Statutes 215 ILCS 5/68 – Declaration of organization
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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
(a) the name of the attorney-in-fact and the name or
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designation under which contracts are to be exchanged;
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(b) the location of the principal office of the
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attorney-in-fact;
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(c) the class or classes of insurance, as provided in
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Section 65, which it proposes to effect or exchange and the kinds of insurance in each class to be effected or exchanged;
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(d) such other provisions not inconsistent with law
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which may be deemed by the attorney-in-fact or subscribers to be necessary or advisable.
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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