Bill Text: IL HB0471 | 2019-2020 | 101st General Assembly | Engrossed
Bill Title: Amends the Business Corporation Act of 1983. Provides that if the board of directors is authorized to determine the place of a meeting of shareholders, the board of directors may determine that the meeting shall not be held at any place, but may instead be held solely by means of remote communication. Provides that a corporation may allow shareholders to participate in and act at any meeting of the shareholders through the use of remote connection; however, the corporation shall implement reasonable measures to provide the shareholders a reasonable opportunity to participate in the meeting and to vote on matters submitted to the shareholders. Provides that the corporation may implement reasonable measures to verify that each person deemed present and entitled to vote at the meeting by means of remote communication is a shareholder. Makes corresponding changes. Effective immediately.
Spectrum: Partisan Bill (Democrat 62-0)
Status: (Engrossed - Dead) 2021-01-12 - Placed on Calendar Order of Concurrence Senate Amendment(s) 2 [HB0471 Detail]
Download: Illinois-2019-HB0471-Engrossed.html
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1 | AN ACT concerning regulation.
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2 | Be it enacted by the People of the State of Illinois, | ||||||
3 | represented in the General Assembly:
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4 | Section 5. The Illinois Insurance Code is amended by | ||||||
5 | changing Section 355 as follows:
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6 | (215 ILCS 5/355) (from Ch. 73, par. 967)
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7 | Sec. 355. Accident
and health policies; provisions. | ||||||
8 | policies-Provisions.)
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9 | (a) As used in this Section, "unreasonable rate increase" | ||||||
10 | means a rate increase that the Director determines to be | ||||||
11 | excessive, unjustified, or unfairly discriminatory in | ||||||
12 | accordance with 45 CFR 154.205. | ||||||
13 | (b) No policy of insurance against loss or damage from the | ||||||
14 | sickness, or from
the bodily injury or death of the insured by | ||||||
15 | accident shall be issued or
delivered to any person in this | ||||||
16 | State until a copy of the form thereof and
of the | ||||||
17 | classification of risks and the premium rates pertaining | ||||||
18 | thereto
have been filed with the Director; nor shall it be so | ||||||
19 | issued or delivered
until the Director shall have approved such | ||||||
20 | policy pursuant to the provisions
of Section 143. If the | ||||||
21 | Director
disapproves the policy form he shall make a written | ||||||
22 | decision stating the
respects in which such form does not | ||||||
23 | comply with the requirements of law
and shall deliver a copy |
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1 | thereof to the company and it shall be unlawful
thereafter for | ||||||
2 | any such company to issue any policy in such form. | ||||||
3 | (c) All individual and small group accident and health | ||||||
4 | policies written in compliance with the Patient Protection and | ||||||
5 | Affordable Care Act must file rates with the Department for | ||||||
6 | approval. Rate increases found to be unreasonable rate | ||||||
7 | increases in relation to benefits under the policy provided | ||||||
8 | shall be disapproved. The Department shall provide a report to | ||||||
9 | the General Assembly on or after January 1, 2021, regarding | ||||||
10 | both on and off exchange individual and small group rates in | ||||||
11 | the Illinois market.
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12 | (d) A rate increase filed under this Section must be | ||||||
13 | approved or denied within 60 calendar days after the date the | ||||||
14 | rate increase is filed with the Department. Any rate increase | ||||||
15 | that is not approved or denied by the Department shall | ||||||
16 | automatically be approved on the 61st calendar day. | ||||||
17 | (e) No less than 30 days after the federal Centers for | ||||||
18 | Medicare and Medicaid Services has certified the policies | ||||||
19 | described in this Section for the upcoming plan year, the | ||||||
20 | Department shall publish on its website a report explaining the | ||||||
21 | rates for the subsequent calendar year's certified policies. | ||||||
22 | (Source: P.A. 79-777.)
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23 | Section 10. The Health Maintenance Organization Act is | ||||||
24 | amended by changing Section 4-12 as follows:
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1 | (215 ILCS 125/4-12) (from Ch. 111 1/2, par. 1409.5)
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2 | Sec. 4-12. Changes in Rate Methodology and Benefits, | ||||||
3 | Material
Modifications. A health maintenance organization | ||||||
4 | shall file with the
Director, prior to use, a notice of any | ||||||
5 | change in rate methodology, or
benefits and of any material | ||||||
6 | modification of any matter or document
furnished pursuant to | ||||||
7 | Section 2-1, together with such supporting documents
as are | ||||||
8 | necessary to fully explain the change or modification.
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9 | (a) Contract modifications described in subsections | ||||||
10 | (c)(5), (c)(6) and
(c)(7) of Section 2-1 shall include all form | ||||||
11 | agreements between the
organization and enrollees, providers, | ||||||
12 | administrators of services and
insurers of health maintenance | ||||||
13 | organizations.
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14 | (b) Material transactions or series of transactions other | ||||||
15 | than those
described in subsection (a) of this Section, the | ||||||
16 | total annual value of
which exceeds the greater of $100,000 or | ||||||
17 | 5% of net earned subscription
revenue for the most current | ||||||
18 | twelve month period as determined from filed
financial | ||||||
19 | statements.
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20 | (c) Any agreement between the organization and an insurer | ||||||
21 | shall be
subject to the provisions of the laws of this State | ||||||
22 | regarding reinsurance
as provided in Article XI of the Illinois | ||||||
23 | Insurance Code. All reinsurance
agreements must be filed. | ||||||
24 | Approval of the Director is required for all
agreements except | ||||||
25 | the following: individual stop loss, aggregate excess,
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26 | hospitalization benefits or out-of-area of the participating |
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1 | providers
unless 20% or more of the organization's total risk | ||||||
2 | is reinsured, in which
case all reinsurance agreements require | ||||||
3 | approval. | ||||||
4 | (d) All individual and small group accident and health | ||||||
5 | policies written in compliance with the Patient Protection and | ||||||
6 | Affordable Care Act must file rates with the Department for | ||||||
7 | approval. Rate increases found to be unreasonable rate | ||||||
8 | increases in relation to benefits under the policy provided | ||||||
9 | shall be disapproved. The Department shall provide a report to | ||||||
10 | the General Assembly on or after January 1, 2021, regarding | ||||||
11 | both on and off exchange individual and small group rates in | ||||||
12 | the Illinois market.
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13 | (e) A rate increase filed under this Section must be | ||||||
14 | approved or denied within 60 calendar days after the date the | ||||||
15 | rate increase is filed with the Department. Any rate increase | ||||||
16 | that is not approved or denied by the Department shall | ||||||
17 | automatically be approved on the 61st calendar day. | ||||||
18 | (f) No less than 30 days after the federal Centers for | ||||||
19 | Medicare and Medicaid Services has certified the policies | ||||||
20 | described in this Section for the upcoming plan year, the | ||||||
21 | Department shall publish on its website a report explaining the | ||||||
22 | rates for the subsequent calendar year's certified policies. | ||||||
23 | (g) As used in this Section, "unreasonable rate increase" | ||||||
24 | means a rate increase that the Director determines to be | ||||||
25 | excessive, unjustified, or unfairly discriminatory in | ||||||
26 | accordance with 45 CFR 154.205. |
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1 | (Source: P.A. 86-620.)
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