Illinois House Bill 1553 (Prior Session Legislation)

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Completed Legislative Action
Sponsorship: Slight Partisan Bill (Democrat 2-1)
Status: Failed on December 3 2014 - 100% progression
Action: 2014-12-03 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Insurance Code in the provision concerning credit that is allowed a domestic ceding insurer. Includes additional provisions under which credit shall be allowed when the reinsurance is ceded to an assuming insurer domiciled in certain categories of states. Includes additional requirements to apply to certain categories of assuming insurers. Makes changes to the provision concerning the inception, amendment, and renewal dates of reinsurance agreements. Includes additional provisions under which credit shall be allowed when the reinsurance is ceded to an assuming insurer certified in the State. Sets forth provisions concerning the suspension and revocation of a reinsurer's accreditation or certification, the concentration of risk, and applicability to reinsurance agreements. Makes other changes.

INS CD-DOMESTIC CEDING INSURER

Rep. Maria Berrios [D]

Rep. Edward Acevedo [D]

Rep. JoAnn Osmond [R]

Date	Chamber	Action
2014-12-03	House	Session Sine Die
2013-05-15	House	Added Chief Co-Sponsor Rep. Edward J. Acevedo
2013-02-28	House	Added Co-Sponsor Rep. JoAnn D. Osmond
2013-02-13	House	Referred to Rules Committee
2013-02-13	House	First Reading
2013-02-13	House	Filed with the Clerk by Rep. Maria Antonia Berrios

Chapter	Article	Section	Citation Type	Statute Text
215	5	173.1	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1553&GAID=12&DocTypeID=HB&SessionID=85&GA=98
Text	https://www.ilga.gov/legislation/98/HB/09800HB1553.htm