Illinois § 179E-85
Full text of Illinois Illinois Compiled Statutes § 179E-85, with citation guidance and answers to common questions.
§ 179E-85.
Sec. 179E-85. Asset and investment limitations. (a) Assets of the SPRV held in trust to secure obligations under the SPRV contract must at all times be held in: (1) cash and cash equivalents; (2) securities listed by the Securities Valuation Office of the NAIC and qualifying as admitted assets under statutory accounting convention in its state of domicile; and (3) any other form of security acceptable to the Director. (b) An SPRV may enter into swap agreements or other transactions that have the objective of leveling timing differences in funding of up-front or ongoing transaction expenses or managing credit or interest rate risk of the investments in the trust to ensure that the investments are sufficient to assure payment or repayment of: (1) the securities (and related interest or principal payments) issued pursuant to an SPRV insurance securitization transaction; or (2) the SPRV's obligations under the SPRV contract. (Source: P.A. 92-124, eff. 7-20-01.)
Frequently Asked Questions About Illinois § 179E-85
What does Illinois Compiled Statutes § 179E-85 cover?
Section 179E-85 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 § 179E-85?
A common citation format is "Illinois Compiled Statutes § 179E-85" (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 § 179E-85 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.