215 ILCS 5, Article VIIB, Secs. 123B-1 through 123B-15, 15 sections: Risk Retention Companies
Edition and licensing notes
Publisher. Illinois General Assembly, Legislative Reference Bureau (ilga.gov)
Edition. Illinois Compiled Statutes as published by the Legislative Reference Bureau. The publisher's own currency statement on the full-text page reads: "Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law... Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database." Retrieved 2026-09-17.
Status. Illinois Compiled Statutes, public domain (Illinois General Assembly).
What this document is
215 ILCS 5, Article VIIB - Risk Retention Companies (Secs. 123B-1 through 123B-15, 15 sections) is a state statute published by Illinois General Assembly, Legislative Reference Bureau (ilga.gov). It is one of the Illinois documents that insurance license exam questions are written from, including illinois property & casualty practice questions. This page summarizes it and points to the official version, which is the text to rely on.
Sections cited in practice questions
Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.
- 215 ILCS 5/123B-5(A) (Compulsory associations)
“No risk retention group shall be required or permitted to join or contribute financially to the Illinois Insurance Guaranty Fund, or any other plan, pool, association or guaranty or insolvency fund or any similar mechanism, in this State, nor shall any risk retention group, or its insureds or...”
- 215 ILCS 5/123B-9(D) (Restrictions on insurance purchased by purchasing groups)
“No purchasing group may purchase insurance providing for a deductible or an aggregate limit unless the deductible or aggregate limit applies separately to each individual member of the purchasing group.”
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