Bill Status of HB 991   98th General Assembly

Short Description:  INS CD-REHAB DOMESTIC INS CO

House Sponsors
Rep. JoAnn D. Osmond

Senate Sponsors
(Sen. William R. Haine)


Last Action  View All Actions

DateChamber Action
  8/2/2013HousePublic Act . . . . . . . . . 98-0136

Statutes Amended In Order of Appearance
215 ILCS 5/188.2 new

Synopsis As Introduced
Amends the Illinois Insurance Code to set forth provisions concerning the rehabilitation or liquidation of a domestic company that is a covered financial company under the federal Dodd-Frank Wall Street Reform and Consumer Protection Act. Sets forth the grounds upon which the Director of Insurance may file a complaint for an order of rehabilitation or liquidation pursuant to the provisions of the Code concerning the grounds for rehabilitation and liquidation. Provides that after notice to the insurance company, the receivership court may grant an order on the complaint for rehabilitation or liquidation within 24 hours after its filing and that if the court does not make a determination on a complaint for rehabilitation or liquidation filed by the Director within 24 hours after its filing, then it shall be deemed granted by operation of law upon the expiration of the 24-hour period. Sets forth provisions concerning the court order and the Director's powers and authority. Effective immediately.

Actions 
DateChamber Action
  1/29/2013HouseFiled with the Clerk by Rep. JoAnn D. Osmond
  1/29/2013HouseFirst Reading
  1/29/2013HouseReferred to Rules Committee
  2/13/2013HouseAssigned to Insurance Committee
  2/20/2013HouseDo Pass / Short Debate Insurance Committee; 025-000-000
  2/21/2013HousePlaced on Calendar 2nd Reading - Short Debate
  2/27/2013HouseSecond Reading - Short Debate
  2/27/2013HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3/1/2013HouseThird Reading - Short Debate - Passed 112-000-000
  3/1/2013SenateArrive in Senate
  3/1/2013SenatePlaced on Calendar Order of First Reading March 5, 2013
  3/1/2013SenateChief Senate Sponsor Sen. William R. Haine
  3/5/2013SenateFirst Reading
  3/5/2013SenateReferred to Assignments
  3/12/2013SenateAssigned to Insurance
  3/20/2013SenateDo Pass Insurance; 008-000-000
  3/20/2013SenatePlaced on Calendar Order of 2nd Reading March 21, 2013
  4/24/2013SenateSecond Reading
  4/24/2013SenatePlaced on Calendar Order of 3rd Reading April 25, 2013
  5/9/2013SenateThird Reading - Passed; 056-000-000
  5/9/2013HousePassed Both Houses
  6/7/2013HouseSent to the Governor
  8/2/2013HouseGovernor Approved
  8/2/2013HouseEffective Date August 2, 2013
  8/2/2013HousePublic Act . . . . . . . . . 98-0136

Back To Top