Bill Status of SB 2817   96th General Assembly

Short Description:  INS CD-CONTROL-DOMESTIC CO

Senate Sponsors
Sen. Mike Jacobs

House Sponsors
(Rep. Karen A. Yarbrough-Frank J. Mautino-JoAnn D. Osmond)


Last Action  View All Actions

DateChamber Action
  1/12/2011SenateSession Sine Die

Statutes Amended In Order of Appearance
215 ILCS 5/131.4a new
215 ILCS 5/131.11from Ch. 73, par. 743.11
215 ILCS 5/136from Ch. 73, par. 748
215 ILCS 5/404from Ch. 73, par. 1016

Synopsis As Introduced
Amends the Illinois Insurance Code. Provides that no person possessing a controlling interest in any domestic company may divest, transfer, donate, or otherwise alienate or dispose of a domestic company's securities or enter into agreements for such transactions without obtaining prior written approval from the Director of Insurance. Makes changes concerning annual statements and confidentiality of records. Effective immediately, except that certain provisions take effect on January 1, 2011.

House Committee Amendment No. 1
Deletes reference to:
215 ILCS 5/131.4a new
Adds reference to:
215 ILCS 5/131.4from Ch. 73, par. 743.4
215 ILCS 5/131.5from Ch. 73, par. 743.5
215 ILCS 5/131.8from Ch. 73, par. 743.8
215 ILCS 5/131.8afrom Ch. 73, par. 743.8a
215 ILCS 5/131.9from Ch. 73, par. 743.9
215 ILCS 5/131.10from Ch. 73, par. 743.10
215 ILCS 5/131.23from Ch. 73, par. 743.23

Deletes everything after the enacting clause. Amends the Illinois Insurance Code to include the transfer or divestiture of control of a domestic company and the transfer or divestiture of any security regarding a domestic company in the provisions concerning the acquisition of control of a domestic company and the acquisition of any security regarding a domestic company. Makes changes in the provisions concerning annual statements and the confidentiality of records. Makes other changes. Effective immediately.

Actions 
DateChamber Action
  1/28/2010SenateFiled with Secretary by Sen. Mike Jacobs
  1/28/2010SenateFirst Reading
  1/28/2010SenateReferred to Assignments
  2/16/2010SenateAssigned to Insurance
  2/24/2010SenatePostponed - Insurance
  3/4/2010SenateDo Pass Insurance; 012-000-000
  3/4/2010SenatePlaced on Calendar Order of 2nd Reading March 9, 2010
  3/12/2010SenateSecond Reading
  3/12/2010SenatePlaced on Calendar Order of 3rd Reading March 15, 2010
  3/16/2010SenateThird Reading - Passed; 055-000-000
  3/16/2010HouseArrived in House
  3/17/2010HouseChief House Sponsor Rep. Karen A. Yarbrough
  3/17/2010HousePlaced on Calendar Order of First Reading
  3/17/2010HouseFirst Reading
  3/17/2010HouseReferred to Rules Committee
  4/8/2010HouseAssigned to Insurance Committee
  4/20/2010HouseHouse Committee Amendment No. 1 Filed with Clerk by Insurance Committee
  4/20/2010HouseHouse Committee Amendment No. 1 Adopted in Insurance Committee; by Voice Vote
  4/20/2010HouseDo Pass as Amended / Short Debate Insurance Committee; 018-001-000
  4/21/2010HousePlaced on Calendar 2nd Reading - Short Debate
  4/23/2010HouseSecond Reading - Short Debate
  4/23/2010HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/28/2010HouseAdded Alternate Chief Co-Sponsor Rep. Frank J. Mautino
  4/28/2010HouseAdded Alternate Chief Co-Sponsor Rep. JoAnn D. Osmond
  4/28/2010HouseThird Reading - Short Debate - Passed 110-000-001
  4/29/2010SenateSecretary's Desk - Concurrence House Amendment(s) 1
  4/29/2010SenatePlaced on Calendar Order of Concurrence House Amendment(s) 1 - April 30, 2010
  6/27/2010SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments
  1/12/2011SenateSession Sine Die

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