Illinois § 132.6
Full text of Illinois Illinois Compiled Statutes § 132.6, with citation guidance and answers to common questions.
§ 132.6.
Conflict of interest. (a) No examiner may be appointed by the Director if that examiner, either directly or indirectly, has a conflict of interest, is affiliated with the management of, or owns a pecuniary interest in any person subject to examination. This Section shall not be construed to automatically preclude an examiner from being: (1) A policyholder or claimant under an insurance policy. (2) A grantor of a mortgage or similar instrument on the examiner's residence to a regulated entity if done under customary terms and in the ordinary course of business. (3) An investment owner in shares of regulated diversified investment companies. (4) A settlor or beneficiary of a "blind trust" into which any otherwise impermissible holdings have been placed. (b) Notwithstanding the provisions of this Section, the Director may retain from time to time, on an individual basis, qualified actuaries, certified public accountants, or other similar individuals who are independently practicing their professions, even though those persons may from time to time be similarly employed or retained by persons subject to examination under this Code. (Source: P.A. 87-108.)
Frequently Asked Questions About Illinois § 132.6
What does Illinois Compiled Statutes § 132.6 cover?
Section 132.6 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 § 132.6?
A common citation format is "Illinois Compiled Statutes § 132.6" (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 § 132.6 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.