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90th General Assembly

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Public Act 90-0303

HB1410 Enrolled                                LRB9003927JScc

    AN ACT to amend the Illinois  Insurance  Code  by  adding
Section 155.31.

    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
adding Section 155.31 as follows:

    (215 ILCS 5/155.31 new)
    Sec. 155.31.  Structured settlements.
    (a)  No   insurance   company  may  make  payments  on  a
structured settlement of  a  claim  for  personal  injury  to
anyone  other  than the beneficiary of the settlement without
prior approval of the circuit court of the  county  where  an
action was or could have been maintained.
    (b)  No  person  who  is  the beneficiary of a structured
settlement of a claim for personal injury may assign  in  any
manner  the payments of the settlement without prior approval
of the circuit court of the county where  an  action  was  or
could have been maintained.
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