Bill Title: Amends the Illinois Insurance Code. In the Article concerning the Illinois Life and Health Insurance Guaranty Association, makes changes to the organization of provisions concerning coverage and limitations and powers and duties of the Association. Makes changes in the provisions concerning definitions; the Board of Directors of the Association; assessments; and miscellaneous provisions. In a provision concerning duties of the Director of Insurance as liquidator, provides that upon the entry of an order directing liquidation of a company, the Director may, subject to a provision of the Insurance Code that allows the Association to exercise all the rights of the Director with respect to covered policies after the Association becomes obligated by statute or a provision of the Health Maintenance Organization Act, cede or reinsure all or so much as may be necessary of the in-force business to another company using assets of the liquidated company to pay therefor in preference to satisfying other obligations or creditors. Effective immediately.

Spectrum: Partisan Bill (Democrat 7-0)

Status: (Passed) 2018-08-22 - Public Act . . . . . . . . . 100-1023 [SB0682 Detail]

Text: Latest bill text (Chaptered) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator John Mulroe [D]	Primary	Sponsored Bills	SD-010	FollowTheMoney	Ballotpedia	VoteSmart
Senator Melinda Bush [D]	Cosponsor	Sponsored Bills	SD-031	FollowTheMoney	Ballotpedia	VoteSmart
Senator Sara Feigenholtz [D]	Primary	Sponsored Bills	SD-006	FollowTheMoney	Ballotpedia	VoteSmart
Representative Emanuel Welch [D]	Cosponsor	Sponsored Bills	HD-007	FollowTheMoney	Ballotpedia	VoteSmart
Representative Jonathan Carroll [D]	Cosponsor	Sponsored Bills	HD-057	FollowTheMoney	Ballotpedia	VoteSmart
Representative Deborah Conroy [D]	Cosponsor	Sponsored Bills	HD-046	FollowTheMoney	Ballotpedia	VoteSmart
Representative Louis Lang [D]	Cosponsor	Sponsored Bills	HD-016	FollowTheMoney	Ballotpedia	VoteSmart

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