Bill Sponsors: IL SB0682 | 2017-2018 | 100th General Assembly

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]

Sponsors

NameTypeSponsorshipDistrictFinancialEncyclopediaBiography
Senator John Mulroe [D]PrimarySponsored BillsSD-010FollowTheMoneyBallotpediaVoteSmart
Senator Melinda Bush [D]CosponsorSponsored BillsSD-031FollowTheMoneyBallotpediaVoteSmart
Representative Sara Feigenholtz [D]PrimarySponsored BillsHD-012FollowTheMoneyBallotpediaVoteSmart
Representative Emanuel Welch [D]CosponsorSponsored BillsHD-007FollowTheMoneyBallotpediaVoteSmart
Representative Jonathan Carroll [D]CosponsorSponsored BillsHD-057FollowTheMoneyBallotpediaVoteSmart
Representative Deborah Conroy [D]CosponsorSponsored BillsHD-046FollowTheMoneyBallotpediaVoteSmart
Representative Louis Lang [D]CosponsorSponsored BillsHD-016FollowTheMoneyBallotpediaVoteSmart

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