(a) Contents of Petition - The applicant shall file a verified petition in duplicate, duly executed, stating that the petitioner has complied with all applicable laws and regulations and requesting authorization to act as surety or guarantor in the court. There shall be attached to the petition:

(i) In the case of sureties, a certificate of authorization to conduct surety business for the current year under the Illinois Insurance Code, attested by the director of the Department of Insurance of the State of Illinois; in the case of guarantors which are foreign corporations, a certificate of authority to transact business in Illinois under the Business Corporation Act of 1983, effective July 1, 1984, as amended (Ill. Rev. Stat. 1985, ch. 32, par. 13.05 et seq.)[805 ILCS 5/13.50].

(ii) Powers of attorney or certificates of authority, duly executed by the appointing officer, for all persons authorized to execute civil bonds for the petitioner in the court, accompanied by the signatures of said persons so authorized, in a form approved by the court.

(iii) Financial information consisting of:

A. A statement of assets, liabilities, and shareholder's equity certified by the petitioner as being a fair and accurate representation of the petitioner's financial condition as of the date of presentation. The statement shall be prepared as of the end of the petitioner's previous fiscal year or any subsequent date prior to the filing of the petition;

B. (1) The most recent regulatory filings by the petitioner; (2) financial statements of the petitioner audited, reviewed or compiled by independent auditors, along with the auditor reports; and (3) any narrative reports issued by independent auditors, or regulatory agencies within two years of the date of filing which reflect upon the petitioner's financial condition and its ability to act as surety or guarantor; and

C. Any additional information which the Chief Judge in his discretion deems necessary to approve petitioner's authorization to act as a civil surety in civil cases in the Circuit Court of Cook County.

(iv) A verified schedule of:

A. All unsatisfied judgments pending against the petitioner at the time of the filing of the petition upon bonds executed by the petitioner in any court in Illinois. The schedule shall state the title and number of the case, the amount and date of judgment entered.

B. All actions pending against the petitioner at the time of filing of the petition, upon bonds executed by the petitioner in any court in Illinois. The schedule shall state the title and number of the case, the names of the attorneys of record, the amount claimed, the nature of the claim and if contested, the reasons for contesting the claim.

C. All claims of liability, not the subject of any pending case, which have been made against the petitioner and are undischarged at the time of the filing of the petition, upon bonds executed by the petitioner in any court in Illinois. The schedule shall state the nature of the claim and the reasons for contesting the claim.

(b) Notice - Upon the filing of the petition, the chief judge, upon motion, shall set the petition for hearing at a specified time not earlier than 15 days after the date of filing. The petitioner shall then publish notice, not less than 15 days before the date set for hearing, in a newspaper of general circulation in the county, of the pendency of the petition, showing the date set for hearing.

(c) Objections - Any person may file written objections to the petition with the clerk of the court not less than 10 days before the date set for hearing, stating the reasons why the petition should not be allowed. The petitioner may file its answer to the objections not later than 5 days before the date set for hearing. A copy of the objections shall be served upon the petitioner, and a copy of the answer shall be served upon the objector, not later than the time of the respective filings.

(d) Hearing - The petitioner and the objector may introduce evidence at the hearing. If the court finds that the petitioner should be disallowed, the petitioner shall be disqualified from acting as surety in the court until further order of court. If, upon such hearing, the court finds that the petitioner has complied with this rule and no good cause appears to the contrary, the court shall approve the authorization of the petitioner.

(e) Change of Agents - A corporation or association authorized to act as surety in the court may file a supplemental petition to change the persons authorized to execute bonds in its behalf.

[Amended, effective March 23, 2009.]