Illinois Code § 547
Illinois Code § 547. Reproduced from the official Illinois Compiled Statutes, with a citation summary, verification link, and related provisions.
§ 547.
Prevention of insolvencies. To aid in the detection and prevention of company insolvencies: (a) The board of directors may, upon majority vote, make recommendations to the Director on matters pertaining to regulation for solvency. (b) The board of directors may prepare a report on the history and causes of any company insolvency in which the Fund was obligated to pay covered claims, based on the information available to the Fund, and submit such report to the Director. (c) The Director may disclose to the Fund the information described in subsection (g) of Section 132.5 as well as the information described in subsection (c) of Section 131.22, and the Fund may use that information to prepare for the possible liquidation of a member company subject to the requirements and restrictions set forth in Section 132.5. (Source: P.A. 102-929, eff. 5-27-22.)
Source: official Illinois text · Last verified 2026-08-27
At a glance
- Citation: Illinois Compiled Statutes § 547
- Jurisdiction: Illinois
- Code: Illinois Compiled Statutes
- Text: transcribed from the official source (verify below)
Verify the text
Statute text is transcribed from the official Illinois Compiled Statutes. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Illinois attorney.
Common questions
What is the source of Illinois Compiled Statutes § 547?
The text above is transcribed from the Illinois Compiled Statutes, the codified statutes of Illinois. The official publisher link appears under "Verify the text" on this page.
What subject does Illinois Compiled Statutes § 547 address?
It addresses the rule set out in the section text. Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
Is Illinois Compiled Statutes § 547 still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Illinois source before relying on this text.
Can this page be used as legal advice?
No. This is a reference transcription for research. Applying Illinois law to your facts requires a licensed Illinois attorney who can review the specifics.