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SB2240 Engrossed |
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LRB093 15872 RCE 41489 b |
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| AN ACT in relation to insurance.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Illinois Insurance Code is amended by |
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| changing Section 143.15
as follows:
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| (215 ILCS 5/143.15) (from Ch. 73, par. 755.15)
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| Sec. 143.15. Mailing of cancellation notice.
A notice
All |
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| notices
of
cancellation of insurance as
defined in subsections |
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| (a), (b) and (c) of Section 143.13 must
be mailed at least 30 |
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| days prior to the effective date of
cancellation to the named |
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| insured and mortgagee or lien holder,
if known, at the last |
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| mailing address known to the company. All
notices of |
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| cancellation shall include a specific explanation of
the reason |
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| or reasons for cancellation. However, where cancellation
is for |
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| nonpayment of premium, the notice of
cancellation must be |
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| mailed at least 10 days before the effective date of the
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| cancellation.
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| (Source: P.A. 89-669, eff. 1-1-97.)
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