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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB2285
Introduced 2/26/2007, by Rep. Michael J. Madigan - Barbara Flynn Currie - Frank J. Mautino SYNOPSIS AS INTRODUCED:
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215 ILCS 5/143.27 |
from Ch. 73, par. 755.27 |
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Amends the Illinois Insurance Code. Makes a technical change in a Section concerning the
time within which to make repairs to damaged property.
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A BILL FOR
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HB2285 |
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LRB095 01344 KBJ 21346 b |
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| AN ACT concerning regulation.
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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. No insurance company may give to any named |
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| insured any notice
of cancellation or nonrenewal of a policy of |
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| fire and
and extended coverage
insurance, as defined in |
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| subsection (b) of Section 143.13, covering property
which is |
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| capable of being rehabilitated, without allowing the named |
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| insured
a reasonable period of time in which to repair defects |
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| in the insured property
or relevant portion thereof, to an |
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| extent reasonably sufficient to facilitate
continued coverage |
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| thereon. The time reasonably allowable therefor (which
in no |
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| event shall exceed ninety days) and the degree of sufficiency |
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| of such
rehabilitative efforts which insurance companies shall |
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| accept, may be determined
by a certificate from a licensed |
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| contractor or architect and such rehabilitative
efforts shall |
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| be in compliance with local municipal building codes. The
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| notice of need for repair shall be from the insurance company, |
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| which may
be sent to the insured at any time during the policy |
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| term, and which notice
shall commence the time period |