Bill Text: IL HB3105 | 2009-2010 | 96th General Assembly | Introduced

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Bill Title: Amends the Illinois Insurance Code. Makes a technical change in a Section concerning the executive committee of domestic mutual companies.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2009-04-03 - Rule 19(a) / Re-referred to Rules Committee [HB3105 Detail]

Download: Illinois-2009-HB3105-Introduced.html

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96TH GENERAL ASSEMBLY State of Illinois 2009 and 2010 HB3105 Introduced 2/24/2009, by Rep. Tom Cross SYNOPSIS AS INTRODUCED:
215 ILCS 5/41 from Ch. 73, par. 653
Amends the Illinois Insurance Code. Makes a technical change in a Section concerning the executive committee of domestic mutual companies.
LRB096 09776 RPM 19939 b
A BILL FOR
HB3105 LRB096 09776 RPM 19939 b
AN ACT concerning regulation.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Insurance Code is amended by
changing Section 41 as follows:
(215 ILCS 5/41) (from Ch. 73, par. 653)
(Section scheduled to be repealed on January 1, 2017)
Sec. 41. Executive committee. If the the by-laws so
provide, the board of directors or trustees, by a resolution
adopted by a majority of the whole board, may designate three
or more of their number to constitute an executive committee,
which committee shall, to the extent provided in the resolution
or in the by-laws, have and exercise, during the interim
between the meetings of the board, all of the authority of the
board in the management of the company, but the designation of
such committee shall not relieve the board or any member
thereof of any responsibility imposed by law.
(Source: Laws 1937, p. 696.)