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