ILCS » Chapter 215 · Act 5
Illinois Compiled Statutes

215 ILCS 5/15 (2026)

Documents to be delivered to Director by incorporators

✓ current as of May 2026
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(215 ILCS 5/15) (from Ch. 73, par. 627)
    (Section scheduled to be repealed on January 1, 2027)
    Sec. 15. Documents to be delivered to Director by incorporators. Upon the execution of the articles of incorporation, there shall be delivered to the Director:
        (a) duplicate originals of the articles of
    
incorporation;
        (b) a copy of the by-laws adopted by the
    
incorporators;
        (c) the form of subscription agreement to be used by
    
the company;
        (d) 2 organization bonds or the cash or securities
    
provided for in Section 16; and
        (e) the form of escrow agreement for the deposit of
    
cash or securities.
(Source: P.A. 100-863, eff. 8-14-18.)

    
Notes of Decisions
Cited in 3 cases (2 in the last 5 years), 2002–2021 · leading case: LifeUSA Ins. v. Green, 42 F. App'x 815 (7th Cir. 2002).
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LifeUSA Ins. v. Green, 42 F. App'x 815 (7th Cir. 2002). “Finally, relying on the Illinois Insurance Code, 215 ILCS 5/15, the bankruptcy court rescinded Green’s disability coverage as well as the rider to the LifeU-SA policy, although the court refused to rescind the life insurance policy itself because LifeUSA had waived rescission by…”
TJBC, Inc v. The Cincinnati Ins. Co. (S.D. Ill. 2021). “Plaintiff also asserts claims for breach of contract for failing to provide coverage, damages and attorneys’ fees for vexatious refusal under 215 ILCS 5/15 and consumer fraud under 815 ILCS 505, along with a claim for common law fraud.”
Willmore v. Travelers Ins. Co. (S.D. Ill. 2021). “) The greatest share of the jurisdictional minimum comes from the $60,000 statutory penalty under 215 ILCS 5/15, so the Court begins its evaluation with that estimate.”
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