{"data":{"id":"us-il/215-ilcs-5-45.1","jurisdiction":"us-il","citation":"215 ILCS 5/45.1","heading":"Escrow agreements.","body":"(Section scheduled to be repealed on January 1, 2037)\nThe company shall designate a bank or trust company with whom it will enter into an escrow agreement, which agreement shall state that the organization surplus shall be placed in escrow and remain so, until an organization examination has been completed. When the examination has been completed the escrow agent is authorized to purchase securities for deposit as required by Section 53 and forward them to the Director. The escrow agent is authorized to release the balance of the escrowed funds to the company only upon notification that a Certificate of Authority or similar documentation has been issued by the Director.","path":["CHAPTER 215 INSURANCE","Illinois Insurance Code."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=1249\u0026ChapterID=22\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:30Z","sha256":"d1e63eab63b6893b3cf057c2d945210814eed84c39a2efe3d701d1da094dffde","source_id":"us-il","stale":false,"prev":"us-il/215-ilcs-5-45","next":"us-il/215-ilcs-5-46"},"notice":"GroundRules: Original legal text. Not legal advice."}