Illinois Senate Bill 1494

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 3-0)
Status: Passed on June 9 2023 - 100% progression
Action: 2023-06-09 - Public Act . . . . . . . . . 103-0090
Text: Latest bill text (Chaptered) [HTML]

Amends the Domestic Stock Company Division Article of the Illinois Insurance Code. In provisions concerning plan of division approval, provides that any decision by the Director of Insurance on whether or not to hold a public hearing on either a plan of division or an amended plan of division may be made independently by the Director. Provides that if a dividing company amends its plan of division at any time before the plan of division becomes effective, then the dividing company shall file the amended plan of division for approval by the Director. Provides that if a hearing is conducted on the amended plan of division after the Director has approved a previous plan of division, then the hearing shall not be considered a rehearing. Provides that the fee assessed for filing a plan of division shall not apply to the filing of an amended plan of division. In provisions concerning certificates of division, provides that if the dividing company files an amended plan of division with the Director after a certificate of division has been filed for a previous plan, then the dividing company shall file a certificate of stay with the recorder. Provides that the certificate of stay shall identify the certificate of division being stayed and the date on which the amended plan of division was filed with the Director. Makes other changes. Effective immediately.

INS-DOMESTIC STOCK CO/DIVISION

Sen. Napoleon Harris [D]

Rep. Thaddeus Jones [D]

Rep. Bob Morgan [D]

2023-05-08 - House - Third Reading in House (Y: 105 N: 0 NV: 2 Abs: 3) [PASS]
2023-03-23 - Senate - Third Reading in Senate (Y: 57 N: 0 NV: 2 Abs: 0) [PASS]

Date	Chamber	Action
2023-06-09	Senate	Public Act . . . . . . . . . 103-0090
2023-06-09	Senate	Effective Date June 9, 2023
2023-06-09	Senate	Governor Approved
2023-06-06	Senate	Sent to the Governor
2023-05-08	Senate	Passed Both Houses
2023-05-08	House	Third Reading - Short Debate - Passed 105-000-000
2023-04-27	House	Placed on Calendar Order of 3rd Reading - Short Debate
2023-04-27	House	Second Reading - Short Debate
2023-04-19	House	Placed on Calendar 2nd Reading - Short Debate
2023-04-18	House	Do Pass / Short Debate Insurance Committee; 014-000-000
2023-04-12	House	Added Alternate Chief Co-Sponsor Rep. Bob Morgan
2023-04-11	House	Assigned to Insurance Committee
2023-03-23	House	Referred to Rules Committee
2023-03-23	House	First Reading
2023-03-23	House	Chief House Sponsor Rep. Thaddeus Jones
2023-03-23	House	Arrived in House
2023-03-23	Senate	Third Reading - Passed; 057-000-000
2023-03-22	Senate	Placed on Calendar Order of 3rd Reading March 23, 2023
2023-03-22	Senate	Second Reading
2023-02-22	Senate	Placed on Calendar Order of 2nd Reading February 23, 2023
2023-02-22	Senate	Do Pass Insurance; 010-000-000
2023-02-14	Senate	Assigned to Insurance
2023-02-07	Senate	Referred to Assignments
2023-02-07	Senate	First Reading
2023-02-07	Senate	Filed with Secretary by Sen. Napoleon Harris, III

Chapter	Article	Section	Citation Type	Statute Text
215	5	35B-25	Amended Code	Citation Text
215	5	35B-30	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1494&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/SB/10300SB1494.htm
Text	https://www.ilga.gov/legislation/103/SB/10300SB1494eng.htm
Text	https://www.ilga.gov/legislation/103/SB/10300SB1494enr.htm
Text	https://www.ilga.gov/legislation/publicacts/103/103-0090.htm
Roll Call	https://www.ilga.gov/legislation/votehistory/103/senate/10300SB1494_03232023_009000T.pdf
Roll Call	https://www.ilga.gov/legislation/votehistory/103/house/10300SB1494_05082023_039000T.pdf