|
|
Rep. Dan Brady
Filed: 3/17/2010
|
|
09600HB5630ham001 |
|
LRB096 19397 RPM 39157 a |
|
|
| 1 |
| AMENDMENT TO HOUSE BILL 5630
|
| 2 |
| AMENDMENT NO. ______. Amend House Bill 5630 by replacing |
| 3 |
| everything after the enacting clause with the following:
|
| 4 |
| "Section 5. The Illinois Insurance Code is amended by |
| 5 |
| adding Section 155.43 as follows:
|
| 6 |
| (215 ILCS 5/155.43 new) |
| 7 |
| Sec. 155.43. Notice to insurer; foreclosure proceedings. |
| 8 |
| If foreclosure proceedings for a residential building have been |
| 9 |
| filed or otherwise commenced, then it is the responsibility of |
| 10 |
| the mortgagee, judgment creditor, or other lien holder to |
| 11 |
| notify the insurer of the residential building in writing |
| 12 |
| within 10 business days after such filing or commencement that |
| 13 |
| the foreclosure proceeding has been filed or commenced.
|
| 14 |
| Section 99. Effective date. This Act takes effect on |
| 15 |
| January 1, 2011.".
|