This Part is promulgated by the Director of Insurance under Section 401 of the Illinois Insurance Code (Ill. Rev. Stat. 1985, ch. 73, par. 1013), which empowers the Director to make reasonable rules and regulations as may be necessary for making effective the insurance laws of this State. This Part implements Section 466 of the Illinois Insurance Code (Ill. Rev. Stat. 1985, ch. 73, Section 1065.13).
Ill. Admin. Code tit. 50, § 2903.10