Ill. Admin. Code tit. 50, § 3601.100 – Pooling Among Several Trusts | Midpage
§ 3601.100
Ill. Admin. Code tit. 50, § 3601.100
Pooling Among Several Trusts
AUTHORITY: Implementing the Religious and Charitable Risk Pooling Trust Act [215 ILCS 150/1] and authorized by Section 20 of the Religious and Charitable Risk Pooling Trust Act [215 ILCS 150/20].DEPARTMENT OF INSURANCE
a) No trust established and approved pursuant to the provisions of this Act shall enter into any written agreements with any other trust fund for the pooling and sharing of risks unless such other trust funds have been established and approved pursuant to the provisions of this Act.
b) No trust established and approved pursuant to the provisions of this Act shall pool or share risks with any other trust established by the laws of any state of the United States other than Illinois. It is the specific intention of this provision to limit the pooling and sharing of risks among religious and charitable risk pooling trusts to trust funds approved pursuant to the Act and located in Illinois.