IL SB0375 | 2021-2022 | 102nd General Assembly

Status

Spectrum: Bipartisan Bill
Status: Introduced on February 19 2021 - 25% progression, died in committee
Action: 2021-05-19 - Added as Co-Sponsor Sen. Terri Bryant
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Illinois Insurance Code. Authorizes the Illinois Insurance Guaranty Fund, at the direction of its board of directors and subject to the approval of the Director of Insurance, to form and own a not-for-profit corporation to which the Fund may delegate certain of its powers and duties provided by the Code. Allows the not-for-profit corporation to contract to provide services to the Office of Special Deputy Receiver or any other person or organization authorized by law to carry out the duties of the Director in the capacity of receiver under specified provisions of the Code, the Illinois Life and Health Insurance Guaranty Association, an organizations in another state similar to the Illinois Insurance Guaranty Fund or the Illinois Life and Health Insurance Guaranty Association. Effective immediately.

Tracking Information

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Title

INSURANCE GUARANTY FUND

Sponsors


History

DateChamberAction
2021-05-19SenateAdded as Co-Sponsor Sen. Terri Bryant
2021-04-16SenateRule 3-9(a) / Re-referred to Assignments
2021-04-07SenateAssigned to Insurance
2021-02-19SenateReferred to Assignments
2021-02-19SenateFirst Reading
2021-02-19SenateFiled with Secretary by Sen. Napoleon Harris, III

Code Citations

ChapterArticleSectionCitation TypeStatute Text
2155532Amended CodeCitation Text
2155537.9Amended CodeCitation Text
2155538Amended CodeCitation Text
2155538.10New CodeSee Bill Text
2155538.2Amended CodeCitation Text
2155538.7Amended CodeCitation Text

Illinois State Sources


Bill Comments

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