# 50 Ill. Adm. Code 651.30: Section 651.30 Definitions

> Illinois · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T50_P651_S651_30

## Section

- **Citation:** 50 Ill. Adm. Code 651.30
- **Heading:** Section 651.30 Definitions
- **Jurisdiction:** Illinois
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Illinois Administrative Code / Title 50 INSURANCE / CHAPTER I: DEPARTMENT OF INSURANCE / Part 651 ACQUISITION OF CONTROL OF A DOMESTIC COMPANY / Section 651.30 Definitions

## Text

Section 851
Section 651.30  Definitions
Terms found in this Part other
than those defined in this Section have the meanings ascribed in Section 131.1
of the Illinois Insurance Code.  Other nomenclature or terminology, if not
otherwise defined by the Code, is to be accorded the accepted insurance
industry usage.
"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 these officers) of a person, whether incorporated or
unincorporated.
"Ultimate controlling person" means a controlling
person within an insurance holding company system who is not controlled by any
other person.

## Nearby sections

- [50 Ill. Adm. Code 651.20 Section 651.20  Purpose](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T50_P651_S651_20.md)
- [50 Ill. Adm. Code 651.30 Section 651.30  Definitions](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T50_P651_S651_30.md)
- [50 Ill. Adm. Code 651.40 Section 651.40  Acquisition of Control – Form of Statement Filing](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T50_P651_S651_40.md)
- [50 Ill. Adm. Code 651.80 Section 651.80  Severability Provision](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T50_P651_S651_80.md)
- [50 Ill. Adm. Code 651.ILLUSTRATION Section 651.ILLUSTRATION  A   Statement Regarding the Acquisition of Control of a Domestic Insurer](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T50_P651_S651_ILLUSTRATION.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T50_P651_S651_30. Check the current official text before relying on it. Not legal advice.