Ill. Admin. Code tit. 50 § 915.40

Current through Register Vol. 48, No. 45, November 8, 2024

Section 915.40 - Biographical Affidavits

a) Biographical affidavits must be furnished to the Director by all companies and persons subject to this Part pursuant to Section 915.20. Affidavits of persons specified in Section 915.20(a) and (b) must be filed along with the other papers and documents required for purposes of formation of a domestic company or issuance of a Certificate of Authority to a foreign or alien company. Affidavits of persons specified in Section 915.20(c) must be filed within 30 days after that person's election or appointment. The domestic, foreign or alien company has ultimate responsibility for timely filing of such affidavits.

b) The biographical affidavits shall include, but not be limited to, the following information: 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; affiant's criminal charges and convictions; civil, regulatory, administrative and disciplinary actions in affiant's 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 affiant's immediate family's equity holdings in any entity subject to insurance regulation. The Department will accept the biographical affidavit, and any supplement to that affidavit, that is obtained from the website of the National Association of Insurance Commissioners (NAIC) or the Department.

Ill. Admin. Code tit. 50, § 915.40

Former Section 915.40 repealed, new Section 915.40 adopted at 7 Ill. Reg. 6939, effective May 18, 1983

Amended at 46 Ill. Reg. 12035, effective 6/30/2022