93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
SB2301


 
Introduced 1/28/2004, by Bill Brady
 
SYNOPSIS AS INTRODUCED:
 		













215 ILCS 5/143.27
  from Ch. 73, par. 755.27







    Amends the Illinois Insurance Code.  Adds a caption to a Section concerning the
time within which to make repairs to damaged property.



















LRB093 19642 SAS 45383 b




















 


 


A BILL FOR









 














SB2301

LRB093 19642 SAS 45383 b









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    AN ACT concerning 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 143.27
as follows:


 
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    (215 ILCS 5/143.27)  (from Ch. 73, par. 755.27)

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    Sec. 143.27. Time for repairs; cancellation; nonrenewal.

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No insurance
company may give to any named insured any notice

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of cancellation or nonrenewal of a policy of fire and extended 
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coverage
insurance, as defined in subsection (b) of Section 
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143.13, covering property
which is capable of being 
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rehabilitated, without allowing the named insured
a reasonable 
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period of time in which to repair defects in the insured 
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property
or relevant portion thereof, to an extent reasonably 
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sufficient to facilitate
continued coverage thereon.  The time 
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reasonably allowable therefor (which
in no event shall exceed 
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ninety days) and the degree of sufficiency of such

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rehabilitative efforts which insurance companies shall accept, 
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may be
determined
by a certificate from a licensed contractor 
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or architect and such
rehabilitative
efforts shall be in 
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compliance with local municipal building codes.  The
notice of 
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need for repair shall be from the insurance company, which may

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be sent to the insured at any time during the policy term, and 
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which notice
shall commence the time period established under 
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this Section.


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(Source: P.A. 81-857.)