Bill Text: IL SB1447 | 2021-2022 | 102nd General Assembly | Introduced

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Bill Title: Amends the Illinois Insurance Code. Makes a technical change in a Section concerning the purpose of the Article regarding nonprofit risk organizations.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2021-04-23 - Rule 3-9(a) / Re-referred to Assignments [SB1447 Detail]

Download: Illinois-2021-SB1447-Introduced.html

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102ND GENERAL ASSEMBLY State of Illinois 2021 and 2022 SB1447 Introduced 2/25/2021, by Sen. Dan McConchie SYNOPSIS AS INTRODUCED:
215 ILCS 5/123D-1
Amends the Illinois Insurance Code. Makes a technical change in a Section concerning the purpose of the Article regarding nonprofit risk organizations.
LRB102 11225 BMS 16557 b
A BILL FOR
SB1447 LRB102 11225 BMS 16557 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 123D-1 as follows:
(215 ILCS 5/123D-1)
Sec. 123D-1. Purpose; construction. The The purpose of
this Article is to provide for the organization of and
issuance of a certificate of authority to nonprofit risk
organizations that insure nonprofit organizations and that
will qualify, and continue to qualify, as a qualified
charitable risk pool, as defined in subsection (n) of Section
501 of the Internal Revenue Code.
(Source: P.A. 93-918, eff. 1-1-05.)