Illinois § 123C-23
Full text of Illinois Illinois Compiled Statutes § 123C-23, with citation guidance and answers to common questions.
§ 123C-23.
Sec. 123C-23. Approval of captive reinsurance pools. Before determining whether to approve a captive insurance company's participation in a captive reinsurance pool under Section 123C-13 of this Code, the Director may: (1) require the captive insurance company provide to the Director evidence that the captive reinsurance pool: (a) is composed only of other captive insurance companies holding a certificate of authority under this Article or a similar law of another jurisdiction; and (b) will be able to meet the pool's financial obligations; and (2) impose any other limitation or requirement on the captive insurance company that is necessary and proper to provide adequate security for the captive insurance company. (Source: P.A. 100-1118, eff. 11-27-18.)
Frequently Asked Questions About Illinois § 123C-23
What does Illinois Compiled Statutes § 123C-23 cover?
Section 123C-23 is part of the Illinois Compiled Statutes, the codified statutory law of Illinois. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Illinois § 123C-23?
A common citation format is "Illinois Compiled Statutes § 123C-23" (Illinois). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Illinois law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Illinois official source linked on this page or consult a licensed Illinois attorney.
How does Illinois § 123C-23 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Illinois can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Illinois.