Illinois House Bill 991 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Passed on August 2 2013 - 100% progression
Action: 2013-08-02 - Public Act . . . . . . . . . 98-0136
Text: Latest bill text (Chaptered) [HTML]

Amends the Illinois Insurance Code to set forth provisions concerning the rehabilitation or liquidation of a domestic company that is a covered financial company under the federal Dodd-Frank Wall Street Reform and Consumer Protection Act. Sets forth the grounds upon which the Director of Insurance may file a complaint for an order of rehabilitation or liquidation pursuant to the provisions of the Code concerning the grounds for rehabilitation and liquidation. Provides that after notice to the insurance company, the receivership court may grant an order on the complaint for rehabilitation or liquidation within 24 hours after its filing and that if the court does not make a determination on a complaint for rehabilitation or liquidation filed by the Director within 24 hours after its filing, then it shall be deemed granted by operation of law upon the expiration of the 24-hour period. Sets forth provisions concerning the court order and the Director's powers and authority. Effective immediately.

INS CD-REHAB DOMESTIC INS CO

Rep. JoAnn Osmond [R]

Sen. William Haine [D]

2013-05-09 - Senate - Third Reading in Senate (Y: 56 N: 0 NV: 3 Abs: 0) [PASS]
2013-03-01 - House - Third Reading in House (Y: 112 N: 0 NV: 0 Abs: 1) [PASS]

Date	Chamber	Action
2013-08-02	House	Public Act . . . . . . . . . 98-0136
2013-08-02	House	Effective Date August 2, 2013
2013-08-02	House	Governor Approved
2013-06-07	House	Sent to the Governor
2013-05-09	House	Passed Both Houses
2013-05-09	Senate	Third Reading - Passed; 056-000-000
2013-04-24	Senate	Placed on Calendar Order of 3rd Reading April 25, 2013
2013-04-24	Senate	Second Reading
2013-03-20	Senate	Placed on Calendar Order of 2nd Reading March 21, 2013
2013-03-20	Senate	Do Pass Insurance; 008-000-000
2013-03-12	Senate	Assigned to Insurance
2013-03-05	Senate	Referred to Assignments
2013-03-05	Senate	First Reading
2013-03-01	Senate	Chief Senate Sponsor Sen. William R. Haine
2013-03-01	Senate	Placed on Calendar Order of First Reading March 5, 2013
2013-03-01	Senate	Arrive in Senate
2013-03-01	House	Third Reading - Short Debate - Passed 112-000-000
2013-02-27	House	Placed on Calendar Order of 3rd Reading - Short Debate
2013-02-27	House	Second Reading - Short Debate
2013-02-21	House	Placed on Calendar 2nd Reading - Short Debate
2013-02-20	House	Do Pass / Short Debate Insurance Committee; 025-000-000
2013-02-13	House	Assigned to Insurance Committee
2013-01-29	House	Referred to Rules Committee
2013-01-29	House	First Reading
2013-01-29	House	Filed with the Clerk by Rep. JoAnn D. Osmond

Chapter	Article	Section	Citation Type	Statute Text
215	5	188.2	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=991&GAID=12&DocTypeID=HB&SessionID=85&GA=98
Text	https://www.ilga.gov/legislation/98/HB/09800HB0991.htm
Text	https://www.ilga.gov/legislation/98/HB/09800HB0991eng.htm
Text	https://www.ilga.gov/legislation/98/HB/09800HB0991enr.htm
Text	https://www.ilga.gov/legislation/publicacts/98/098-0136.htm
Roll Call	https://www.ilga.gov/legislation/votehistory/98/house/09800HB0991_03012013_005000T.pdf
Roll Call	https://www.ilga.gov/legislation/votehistory/98/senate/09800HB0991_05092013_020000T.pdf