Ill. Admin. Code tit. 50, § 3601.90 – Amendments to the Trust Instrument | Midpage
§ 3601.90
Ill. Admin. Code tit. 50, § 3601.90
Amendments to the Trust Instrument
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) All amendments or modifications to the originally approved trust instrument shall be made in writing and filed in duplicate with the Director of Insurance and approved by the Director of Insurance to their taking effect.
b) All trustees selected as successors to the original trustees set forth in the application required by Section 3601.20 of this Part shall submit complete biographical data to the Director of Insurance within 14 days of their appointment. This requirement may be satisfied by the filing of such data by the trust or trust administrator and shall be kept as a part of the permanent records of the trust.