Sen. William R. Haine
Filed: 3/27/2017
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1 | AMENDMENT TO SENATE BILL 1667
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2 | AMENDMENT NO. ______. Amend Senate Bill 1667 on page 1, by | ||||||
3 | replacing line 5 with "Sections 6, 8, and 13 as follows:"; and
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4 | on page 2, immediately below line 23, by inserting the | ||||||
5 | following:
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6 | "(215 ILCS 155/13) (from Ch. 73, par. 1413)
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7 | Sec. 13. Annual statement.
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8 | (a)
Each title insurance company shall file with the | ||||||
9 | Department
during the month of March of each year, a statement | ||||||
10 | under oath, of the
condition of such company on the | ||||||
11 | thirty-first day of December next
preceding disclosing the | ||||||
12 | assets, liabilities, earnings and expenses of the
company. The | ||||||
13 | report shall be in such form and shall contain such additional
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14 | statements and information as to the affairs, business, and | ||||||
15 | conditions of
the company as the Secretary may from time to | ||||||
16 | time prescribe or require. |
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1 | (b) By June 1 of each year, a title insurance company must | ||||||
2 | file with the Department a copy of its most recent audited | ||||||
3 | financial statements.
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4 | (c) If determined to be necessary and appropriate by the | ||||||
5 | Department, a title insurance company shall provide a summary | ||||||
6 | describing its professional reinsurance placed outside of the | ||||||
7 | title insurance industry. | ||||||
8 | (Source: P.A. 94-893, eff. 6-20-06.)".
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