Date	Chamber	Action
7/26/2013	House	Public Act . . . . . . . . . 98-0110

Statutes Amended In Order of Appearance

215 ILCS 5/126.11a new

Synopsis As Introduced
Amends the Illinois Insurance Code. Provides that subject to the restrictions provided in the Article concerning life and health insurers, an insurer may invest in bonds, notes, warrants, and other securities not in default that are the direct obligations of the government of any foreign country that is a member of the Organisation for Economic Co-operation and Development (OECD) and for which the full faith and credit of such government has been pledged for the payment of principal and interest, provided that (i) the debt of the issuing country has been rated as investment grade for at least 10 years immediately before the time of acquiring the obligations by at least 2 of the major ratings agencies, including Moody's Investors Service, Standard & Poor's Rating Services, Fitch Rating, and the Securities Valuation Office of the National Association of Insurance Commissioners and (ii) the issuing country has not defaulted and has met its payment obligations in a timely manner on all similar obligations for a period of at least 30 years immediately before the time of acquiring the obligations.

House Committee Amendment No. 1

	Deletes reference to:
	215 ILCS 5/126.11a new

	Adds reference to:
	215 ILCS 5/26

Replaces everything after the enacting clause. Amends the Illinois Insurance Code in the provision requiring companies subject to the Domestic Stock Companies Article to make and maintain with the Director of Insurance for the protection of all creditors, policyholders and policy obligations of the company, a deposit of securities. Provides that all deposits by insurers subject to the Article must be limited to certain types and characteristics. Provides that the Director may refuse to accept certain securities or refuse to accept the reported market value of certain securities offered pursuant to the provision concerning deposits in order to ensure that sufficient cash and securities are on hand to meet the purposes of the deposit. Sets forth provisions concerning deposits required of a domestic insurer pursuant to the laws of another state, province, or country. Makes other changes.

House Floor Amendment No. 2

	Adds reference to:
	215 ILCS 5/53

Replaces everything after the enacting clause. Reinserts the bill as amended by House Amendment No. 1 with the following changes. Further amends the Illinois Insurance Code in the provision requiring companies subject to the Domestic Mutual Companies Article to make and maintain with the Director of Insurance, for the protection of all creditors, policyholders, and policy obligations of the company, a deposit of securities. Provides that all deposits by insurers subject to the Article must be limited to certain types and characteristics. Provides that the Director may refuse to accept certain securities or refuse to accept the reported market value of certain securities offered pursuant to the provision concerning deposits in order to ensure that sufficient cash and securities are on hand to meet the purposes of the deposit. Sets forth provisions concerning deposits required of a domestic insurer pursuant to the laws of another state, province, or country. Makes other changes.

Actions 

Date	Chamber	Action
2/13/2013	House	Filed with the Clerk by Rep. Lou Lang
2/14/2013	House	First Reading
2/14/2013	House	Referred to Rules Committee
2/25/2013	House	Assigned to Insurance Committee
3/11/2013	House	House Committee Amendment No. 1 Filed with Clerk by Rep. Lou Lang
3/11/2013	House	House Committee Amendment No. 1 Referred to Rules Committee
3/13/2013	House	House Committee Amendment No. 1 Rules Refers to Insurance Committee
3/19/2013	House	House Committee Amendment No. 1 Adopted in Insurance Committee; by Voice Vote
3/19/2013	House	Do Pass as Amended / Short Debate Insurance Committee; 026-000-000
3/20/2013	House	Placed on Calendar 2nd Reading - Short Debate
4/8/2013	House	Added Chief Co-Sponsor Rep. Scott Drury
4/10/2013	House	Second Reading - Short Debate
4/10/2013	House	Placed on Calendar Order of 3rd Reading - Short Debate
4/11/2013	House	House Floor Amendment No. 2 Filed with Clerk by Rep. Lou Lang
4/11/2013	House	House Floor Amendment No. 2 Referred to Rules Committee
4/15/2013	House	House Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 004-000-000
4/16/2013	House	Recalled to Second Reading - Short Debate
4/16/2013	House	House Floor Amendment No. 2 Adopted
4/16/2013	House	Placed on Calendar Order of 3rd Reading - Short Debate
4/16/2013	House	Added Chief Co-Sponsor Rep. Jack D. Franks
4/16/2013	House	Added Chief Co-Sponsor Rep. Laura Fine
4/17/2013	House	Third Reading - Short Debate - Passed 118-000-000
4/17/2013	House	Added Co-Sponsor Rep. Robyn Gabel
4/17/2013	House	Added Co-Sponsor Rep. Kelly M. Cassidy
4/17/2013	House	Added Co-Sponsor Rep. Barbara Flynn Currie
4/17/2013	Senate	Arrive in Senate
4/17/2013	Senate	Placed on Calendar Order of First Reading April 18, 2013
4/19/2013	Senate	Chief Senate Sponsor Sen. Ira I. Silverstein
4/19/2013	Senate	First Reading
4/19/2013	Senate	Referred to Assignments
4/24/2013	Senate	Approved for Consideration Assignments
4/24/2013	Senate	Placed on Calendar Order of 2nd Reading April 25, 2013
4/30/2013	Senate	Added as Alternate Co-Sponsor Sen. Julie A. Morrison
5/2/2013	Senate	Added as Alternate Chief Co-Sponsor Sen. Michael W. Frerichs
5/7/2013	Senate	Second Reading
5/7/2013	Senate	Placed on Calendar Order of 3rd Reading May 8, 2013
5/21/2013	Senate	Third Reading - Passed; 057-000-000
5/21/2013	House	Passed Both Houses
6/19/2013	House	Sent to the Governor
7/26/2013	House	Governor Approved
7/26/2013	House	Effective Date January 1, 2014
7/26/2013	House	Public Act . . . . . . . . . 98-0110

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