Illinois Compiled Statutes
215 ILCS 5/191 (2026)
Title to property of company
✓ current as of May 2026
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(215 ILCS 5/191)
(from Ch. 73, par. 803)
Sec. 191.
Title to property of company.
The Director and his successor and successors in office shall be vested
by operation of law with the title to all property, contracts, and rights
of
action of the company as of the date of the order directing rehabilitation
or liquidation. The Director is entitled to immediate possession and control
of all property, contracts, and rights of action of the company, and is further
authorized and directed to remove any and all records and property of the
company to the Director's possession and control or to such other place as may
be convenient for the purposes of efficient and orderly administration of the
rehabilitation or liquidation. All persons, companies, and entities shall
immediately release their possession and control of any and all property,
contracts, and rights of action of the company to the Director including, but
not limited to, bank accounts and bank records, premium and related records,
and claim, underwriting, accounting, and litigation files. The entry of an
order of rehabilitation or liquidation creates an estate that comprises all of
the liabilities and assets of the company. The filing or recording of such
order in the office of the
recorder or the Registrar of Titles in any county of this State
shall impart the same notice that a deed, bill of sale or other evidence of
title duly filed for record by such company would have imparted.
(Source: P.A. 89-206, eff. 7-21-95.)
Notes of Decisions
Cited in 12
cases (1 in the last 5 years), 1995–2023 · leading case: McRaith v. BDO Seidman, LLP, 909 N.E.2d 310 (Ill. App. Ct. 2009).
McRaith v. BDO Seidman, LLP, 909 N.E.2d 310 (Ill. App. Ct. 2009). “” Further, BDO claimed that, because the Liquidator brought counts I, II and III of the 2005 BDO action pursuant to section 191 of the Insurance Code (215 ILCS 5/191 (West 2006)), the Liquidator was then vested with all the rights of action of the insurance companies.”
Hammer v. U.S. Dep't of Health & Human Servs., 905 F.3d 517 (7th Cir. 2018). “As part of the liquidation, the Chancery Division of the Circuit Court of Cook County-one of two Illinois courts empowered to oversee insurance rehabilitation and liquidation, see 215 ILCS 5/199 -entered an order naming the Director of the Illinois Department of Insurance as…”
In Re Coronet Ins. Co., 698 N.E.2d 598 (Ill. App. Ct. 1998). “) 215 ILCS 5/191 (West 1996). Amended section 191 vests title to all property of an insolvent insurer in the Director of Insurance, by operation of law, upon the entry of an order directing rehabilitation or liquidation.”
Shapo v. O'shaughnessy, 246 F. Supp. 2d 935 (N.D. Ill. 2002). “See 215 ILCS 5/191 (upon liquidation of Alpine, the Director of Insurance was “vested by operation of law with .”
CNA Cas. of California v. E.C. Fackler, Inc., 836 N.E.2d 732 (Ill. App. Ct. 2005). “215 ILCS 5/191 (West 2002). Section 193 authorizes the Director to deal with the property, business, and affairs of the company in his name as director, or to bring a suit or claim against the directors or officers of the company on behalf of the creditors, members,…”
Clark v. Cannon Steel Erection Co., 835 N.E.2d 394 (Ill. App. Ct. 2005). “See 215 ILCS 5/191, 193(1) (West 2004). Consequently defendant’s reliance on statutory and administrative provisions that govern the Director in his regulatory capacity not as court-appointed liquidator, is misplaced and irrelevant to the assessments at issue.”
In re Liquidation of Prestige Cas. Co., 659 N.E.2d 50 (Ill. App. Ct. 1995). “) (215 ILCS 5/191 (West 1992).) The Code requires that "the circuit court *** enter forthwith without a hearing an order directing the director to take possession and control of the property, business, books, records, and accounts of the company *** and enjoining the company and…”
People Ex Rel. Hammer v. Lumbermens Mut. Cas. Co. (In Re Liquidation of Lumbermens Mut. Cas. Co.), 2018 IL App (1st) 170996 (Ill. App. Ct. 2018). “215 ILCS 5/191 (West 2012). As the domiciliary receiver, the Director "shall be vested by operation of law with the title to all property, contracts and rights of action of the company as of the date of the order directing * * * liquidation.”
Dep't of Transp. v. Am. Motorists Ins., 305 Mich. App. 250 (Mich. Ct. App. 2014). “8103(7)(ii), 215 ILCS 5/191 provides that the director of insurance is the receiver of a domiciliary insurer.”
People Ex Rel. Boozell v. Coronet Ins., 298 Ill. App. 3d 411 (Ill. App. Ct. 1998). “) 215 ILCS 5/191 (West 1996). Amended section 191 vests title to all property of an insolvent insurer in the Director of Insurance, by operation of law, upon the entry of an order directing rehabilitation or liquidation.”
In re Liquidation of Legion Indem. Co., 2023 IL App (1st) 211370 (Ill. App. Ct. 2023). “, 215 ILCS 5/191, 193 (West 2002). One such power included the Director’s ability to “bring any action, claim, suit, or proceeding *** against any other person with respect to that person’s dealings with [Legion].”
CNA Cas. v. E.C. Fackler, Inc. (Ill. App. Ct. 2005). “215 ILCS 5/191 (West 2002). Section 193 authorizes the Director to deal with the property, business, and affairs of the company in his name as director, or to bring a suit or claim against the directors or officers of the company on behalf of the creditors, members,…”
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