State of Illinois
90th General Assembly
Legislation

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90_SB1736

      215 ILCS 155/20           from Ch. 73, par. 1420
          Amends the Title Insurance Act. Provides that  in  making
      decisions, the Director of Financial Institutions may, rather
      than   shall,  rely  upon  federal  regulations  and  opinion
      letters.  Effective immediately.
                                                     LRB9009783JSbd
                                               LRB9009783JSbd
 1        AN ACT to amend  the  Title  Insurance  Act  by  changing
 2    Section 20.
 3        Be  it  enacted  by  the People of the State of Illinois,
 4    represented in the General Assembly:
 5        Section  5.   The  Title  Insurance  Act  is  amended  by
 6    changing Section 20 as follows:
 7        (215 ILCS 155/20) (from Ch. 73, par. 1420)
 8        Sec. 20.   The  Director  may  shall  rely  upon  federal
 9    regulations  and  opinion  letters  and  may  adopt rules and
10    regulations  as  needed  to  implement  and   interpret   the
11    provisions of this Act.
12    (Source: P.A. 86-239.)
13        Section  99.  Effective date.  This Act takes effect upon
14    becoming law.

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