Illinois Compiled Statutes
215 ILCS 5/534.8 (2026)
"Control" means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, the holding of proxies, by contract other than a commercial contract for goods or nonmanagement services, or otherwise, unless the power is solely the result of an official position with or corporate office held by the person
✓ current as of May 2026
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(215 ILCS 5/534.8)
(from Ch. 73, par. 1065.84-8)
Sec. 534.8.
"Control" means the possession, direct or indirect, of the
power to direct or cause the direction of the management and policies of a
person, whether through the ownership of voting securities, the holding of
proxies, by contract other than a commercial contract for goods or
nonmanagement services, or otherwise, unless the power is solely the result
of an official position with or corporate office held by the person.
Control shall be presumed to exist if any person, directly or indirectly,
owns, controls, holds with the power to vote, or holds proxies
representing, 10% or more of the voting securities or voting power of any
other person. This presumption may be rebutted by a showing that control
does not exist in fact.
(Source: P.A. 85-576.)
Notes of Decisions
Cited in 1
case, 2005–2005 · leading case: Pendleton v. Aguilar, 827 N.E.2d 614 (Ind. Ct. App. 2005).
Pendleton v. Aguilar, 827 N.E.2d 614 (Ind. Ct. App. 2005). “The principal obligation of the Illinois Fund is to pay "covered claims," which are defined as: "unpaid claim{s] for a loss arising out of and within the coverage of an insurance policy to which this [alrticle applies and which is in force at the time of the occurrence giving…”
— 215 ILCS 5/534.8(ii) — 1 case
Pendleton v. Aguilar, 827 N.E.2d 614 (Ind. Ct. App. 2005). “The principal obligation of the Illinois Fund is to pay "covered claims," which are defined as: "unpaid claim{s] for a loss arising out of and within the coverage of an insurance policy to which this [alrticle applies and which is in force at the time of the occurrence giving…”
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