215 ILCS 5/811.1: Distribution of Premiums.

(Text of Section before amendment by P.A. 104-519)

The Fund is authorized to establish the proportion of total mine subsidence insurance premiums collected by each insurer which shall be retained by the insurer as a ceding commission, subject to review of the Director. The remainder of such premiums shall be remitted by the insurer to the Fund at times to be determined by the Fund. The ceding commission shall be uniform in all reinsurance agreements entered into pursuant to Section 810.1 of this Article and shall be based on reasonable administrative costs to the insurers, including agents' commissions.

(Text of Section after amendment by P.A. 104-519)

Distribution of Premiums. The Fund is authorized to establish, by way of the reinsurance agreement, Plan of Operation, or operating rules and procedures, the proportion of total mine subsidence insurance premiums collected by each insurer which shall be retained by the insurer as a ceding commission, subject to review of the Director. The remainder of such premiums shall be remitted by the insurer to the Fund at times to be determined by the Fund. The ceding commission rate for residential mine subsidence coverage and commercial mine subsidence coverage may differ, but the commission rates shall be uniform in all reinsurance agreements entered into pursuant to Section 810.1 of this Article and shall be based on reasonable administrative costs to the insurers, including agents' commissions.