Rep. Dan Brady
Filed: 3/23/2010
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| 1 | AMENDMENT TO HOUSE BILL 5630
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| 2 | AMENDMENT NO. ______. Amend House Bill 5630 by replacing | ||||||
| 3 | everything after the enacting clause with the following:
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| 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; mortgagee-in-possession. | ||||||
| 8 | The mortgagee, judgment creditor, or other lien holder shall | ||||||
| 9 | notify the last-known insurer of a residential building in | ||||||
| 10 | writing by first-class mail or electronically within 10 | ||||||
| 11 | business days after the mortgagee, judgment creditor, or lien | ||||||
| 12 | holder becomes the mortgagee-in-possession.
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| 13 | Section 99. Effective date. This Act takes effect on | ||||||
| 14 | January 1, 2011.".
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