AUTHORITY: Implementing Sections 20, 32, and 147.1 (3) (e) and authorized by Section 401 of the Illinois Insurance Code (Ill. Rev. Stat. 1989, ch. 73, pars. 632, 644, 759.1(3)(e) and 1013).DEPARTMENT OF INSURANCE
Offers or grants of stock options under plans approved by the Director of Insurance shall be exempt.