Definitions

Section 854 Section 654.20  Definitions Terms found in this Part, other than those defined in this Section, are used as defined in Section 131.1 of the Code. "Code" means the Illinois Insurance Code [215 ILCS 5]. "Department" means the Illinois Department of Insurance. "Director" means the Director of the Illinois Department of Insurance. "Executive officer" means any individual charged with active management and control in a senior executive capacity as described by the company's by-laws (including a president, senior vice president, treasurer, secretary, controller, and any other individual regardless of title performing functions the same as those performed by the foregoing officers). "NAIC" means the National Association of Insurance Commissioners.