Bill Text: IL SB2595 | 2019-2020 | 101st General Assembly | Introduced


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: (Failed) 2021-01-13 - Session Sine Die [SB2595 Detail]

Download: Illinois-2019-SB2595-Introduced.html


101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
SB2595

Introduced 1/29/2020, by Sen. William E. Brady

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.
LRB101 17036 BMS 66436 b

A BILL FOR

SB2595LRB101 17036 BMS 66436 b
1 AN ACT concerning regulation.
2 Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4 Section 5. The Illinois Insurance Code is amended by
5changing Section 123D-1 as follows:
6 (215 ILCS 5/123D-1)
7 Sec. 123D-1. Purpose; construction. The The purpose of this
8Article is to provide for the organization of and issuance of a
9certificate of authority to nonprofit risk organizations that
10insure nonprofit organizations and that will qualify, and
11continue to qualify, as a qualified charitable risk pool, as
12defined in subsection (n) of Section 501 of the Internal
13Revenue Code.
14(Source: P.A. 93-918, eff. 1-1-05.)
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