Illinois Senate Bill 3024 (Prior Session Legislation)

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Sponsorship: Partisan Bill (Democrat 3)
Status: Engrossed on April 21 2016 - 50% progression, died in committee
Action: 2016-05-31 - Added as Co-Sponsor Sen. Laura M. Murphy
Pending: House Rules Committee
Text: Latest bill text (Engrossed) [HTML]

Amends the Illinois Insurance Code. In a provision concerning limited lines producer licenses, provides that nothing in the Code shall be construed to require a limited lines producer license or any other form or class of producer's license for financial institutions, or their employees, if the financial institution has purchased or sponsored a group credit life, credit accident and health, credit casualty, or credit property insurance policy or program, under which the financial institution enrolls or performs other administrative services to enable individuals to purchase insurance coverage under the group credit insurance policy from a licensed producer in compliance with provisions concerning license exceptions and credit life and credit accident and health insurance policies under the Code. In a provision concerning licensure requirements for financial institutions, provides that nothing in the Code or in any other law of this State shall be construed to require a financial institution, or the officers or employees of the financial institution, to become licensed under the Code in order to offer any line of insurance that is excluded from the definition of insurance under the Code if that line of insurance is offered in relation to the financial institution's banking business. Provides that for limited purposes, a financial institution, or its officers or employees, that perform administrative services related to lines of insurance excluded from the definition of insurance under the Code, including, but not limited to, marketing, sponsorship, enrollment, and insurance plan certificate issuance services, shall be deemed to be offering insurance related to the financial institution's banking business. Effective immediately.

PRODUCER LICENSE-BANKS

Sen. William Haine [D]

Sen. Laura Murphy [D]

Rep. Louis Lang [D]

2016-04-21 - Senate - Third Reading in Senate (Y: 53 N: 0 NV: 6 Abs: 0) [PASS]

Date	Chamber	Action
2016-05-31	Senate	Added as Co-Sponsor Sen. Laura M. Murphy
2016-04-22	House	Referred to Rules Committee
2016-04-22	House	First Reading
2016-04-22	House	Chief House Sponsor Rep. Lou Lang
2016-04-22	House	Arrived in House
2016-04-21	Senate	Third Reading - Passed; 053-000-000
2016-04-21	Senate	Placed on Calendar Order of 3rd Reading
2016-04-21	Senate	Senate Floor Amendment No. 1 Adopted; Haine
2016-04-21	Senate	Recalled to Second Reading
2016-04-20	Senate	Senate Floor Amendment No. 1 Recommend Do Adopt Insurance; 011-000-000
2016-04-19	Senate	Placed on Calendar Order of 3rd Reading April 20, 2016
2016-04-19	Senate	Second Reading
2016-04-19	Senate	Senate Floor Amendment No. 1 Assignments Refers to Insurance
2016-04-15	Senate	Senate Floor Amendment No. 1 Referred to Assignments
2016-04-15	Senate	Senate Floor Amendment No. 1 Filed with Secretary by Sen. William R. Haine
2016-04-06	Senate	Placed on Calendar Order of 2nd Reading April 7, 2016
2016-04-06	Senate	Do Pass Insurance; 013-000-000
2016-03-08	Senate	Assigned to Insurance
2016-02-18	Senate	Referred to Assignments
2016-02-18	Senate	First Reading
2016-02-18	Senate	Filed with Secretary by Sen. William R. Haine

Chapter	Article	Section	Citation Type	Statute Text
215	5	1403	Amended Code	Citation Text
215	5	500-100	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3024&GAID=13&DocTypeID=SB&SessionID=88&GA=99
Text	https://www.ilga.gov/legislation/99/SB/09900SB3024.htm
Text	https://www.ilga.gov/legislation/99/SB/09900SB3024eng.htm
Amendment	https://www.ilga.gov/legislation/99/SB/09900SB3024sam001.htm
Roll Call	https://www.ilga.gov/legislation/votehistory/99/senate/09900SB3024_04212016_080000T.pdf