102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB1462

 

Introduced 2/17/2021, by Rep. Emanuel Chris Welch

 

SYNOPSIS AS INTRODUCED:
 
215 ILCS 5/123D-1

    Amends the Illinois Insurance Code. Makes a technical change in a Section concerning the purpose of the Article regarding nonprofit risk organizations.


LRB102 03478 BMS 13491 b

 

 

A BILL FOR

 

HB1462LRB102 03478 BMS 13491 b

1    AN ACT concerning regulation.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Insurance Code is amended by
5changing Section 123D-1 as follows:
 
6    (215 ILCS 5/123D-1)
7    Sec. 123D-1. Purpose; construction. The The purpose of
8this Article is to provide for the organization of and
9issuance of a certificate of authority to nonprofit risk
10organizations that insure nonprofit organizations and that
11will qualify, and continue to qualify, as a qualified
12charitable risk pool, as defined in subsection (n) of Section
13501 of the Internal Revenue Code.
14(Source: P.A. 93-918, eff. 1-1-05.)