Illinois Senate Bill 141 (Prior Session Legislation)

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Completed Legislative Action
Sponsorship: Partisan Bill (Democrat 1)
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Title Insurance Act. Makes changes to the provision concerning fees paid by title insurance companies and independent escrowees. Creates a special income-earning fund, known as the Title Insurance Consumer Protection Fund, in the State Treasury. Sets forth the fees collected by the Department of Financial and Professional Regulation that shall be deposited in the Fund. Provides that money in the Fund shall be used solely for the purpose of providing restitution to consumers who have suffered monetary loss arising out of a transaction regulated by the Act. Provides that money in the Fund shall be subrogated to the amount of the restitution. Provides that money in the Fund may be transferred to the Professions Indirect Cost Fund. Amends the State Finance Act to create the Title Insurance Consumer Protection Fund. Makes other changes. Effective immediately.

TITLE INS-CONSUMER PROTECTION

Sen. Iris Martinez [D]

Date	Chamber	Action
2013-01-08	Senate	Session Sine Die
2011-03-18	Senate	Rule 3-9(a) / Re-referred to Assignments
2011-03-17	Senate	Postponed - Commerce
2011-03-10	Senate	Postponed - Commerce
2011-03-03	Senate	Postponed - Commerce
2011-02-09	Senate	Assigned to Commerce
2011-01-27	Senate	Referred to Assignments
2011-01-27	Senate	First Reading
2011-01-27	Senate	Filed with Secretary by Sen. Iris Y. Martinez

Chapter	Article	Section	Citation Type	Statute Text
215	155	14	Amended Code	Citation Text
215	155	14.1	Amended Code	Citation Text
215	155	14.2	New Code	See Bill Text
30	105	5.786	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=141&GAID=11&DocTypeID=SB&SessionID=84&GA=97
Text	https://www.ilga.gov/legislation/97/SB/09700SB0141.htm