Ill. Admin. Code tit. 50, § 2051.270 - Organizational Requirements
Upon application for registration, administrators must file the following information:
a) An
organizational chart describing the relationship between the administrator , its
parent organization and any affiliates, including the state of domicile and the
primary business of each entity;
b)
Proof of registration with the Illinois Secretary of State and the company's
FEIN;
c) Names, addresses, official
positions and biographical affidavits of the person or persons responsible for
the conduct of the affairs of the administrator . The biographical affidavits
shall include, but not be limited to, the following information: identifying
information of the administrator ; affiant's identifying and contact
information; affiant's educational, residential and employment history;
affiant's professional, business and technical licenses and memberships; a
complete history of affiant's fidelity bonding; criminal charges and
convictions; civil, regulatory, administrative and disciplinary actions in an
individual or corporate capacity; a complete history of affiant's bankruptcy,
insolvency, liens and foreclosures in an individual or corporate capacity;
affiant's consent to release background reports to the Department and consent
for third parties to cooperate in the gathering of background information; and
affiant's and his or her immediate family's equity holdings in any entity
subject to insurance regulation. The Department will accept the biographical
affidavit, and any supplement thereto, obtained from the website of the NAIC or
the Department. A copy of the NAIC Biographical Affidavit form is available
under "Managed Care License/Registration Information" on the Department's
website at http://insurance.illinois.gov/company/companyMain.html;
and
d) Location of all
administrative offices of the administrator located in this State and regular
business hours during which offices are open.
Notes
Amended at 37 Ill. Reg. 2895, effective March 4, 2013
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.