Bulletin #04: Miscellaneous
General Bulletin #4
MISCELLANEOUS
1) Association Filing Procedures
The Association Procedures Manual
states that applicable Surplus Line Tax, Fire Marshal Tax
and Association Stamping Fees shall be set forth on policies
and endorsements submitted. Documents not containing this
information will be returned to you for completion.
2) Service of Suit Provision
The Illinois Surplus Line
Law requires
that all surplus line insurance contracts contain a service
of process clause designating the Director of Insurance and
his successor an agent for service of process in any action
arising out of the insurance contract.
[For policies effective prior to January 1, 2002, the provision must also
designate the surplus line producer or some other resident of the State of Illinois
as an agent of the company, to whom a copy of the service of suit should be forwarded
by the Director for delivery to the unauthorized company. The name and full
Illinois address must be shown. The law changed, effective 1/1/02, eliminating
this requirement.]
Click here for a sample of the service
of suit wording.
3) Tax Forms
We have been informed by the state that
each individual licensee must file a semi annual Surplus
Line Tax form as well as an annual Fire Marshal Tax form.
The Association is prepared to generate
these forms on your behalf. Registered firms with the
Association will need to designate one member to whom we can
assign your production. Remaining members will receive a no
activity report. Individual Association memberships will
receive their tax forms in their individual names.
4) Membership Fees
Those of you who have not paid their
membership fees by August 31, 1985 will be reported to the
Insurance Division in accordance with the Plan of Operation.
01-Aug-1985
Rev. 1-Jan-2002
| 
