Illinois Administrative Code
Title 50 - INSURANCE
Part 1410 - GENERAL ACCOUNT MODIFIED GUARANTEED ANNUITY (GAMGA) CONTRACTS
Section 1410.40 - Authority of Insurers
Current through Register Vol. 48, No. 12, March 22, 2024
The following requirements apply to all insurers who have authority to issue MGA contracts in this State.
a) Approval to do Business:
b) Use of Sales Materials:
c) Reports:
Any insurer authorized to transact the business of MGA contracts in this State shall submit to the Director such additional information concerning its MGA operations as the Director may deem necessary.
d) Authority of Director to Disapprove:
Any material filed with and approved by the Director pursuant to Section 1410.60 of this Part shall be subject to disapproval if it is not in compliance with this Part. The Director must be satisfied that the insurer's condition or method of operation in connection with the issuance of MGA contracts will not render its operation hazardous to the public or its policyholders.