94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB2193


 
Introduced 2/14/2005, by Rep. Michael J. Madigan - Barbara Flynn Currie - Frank J. Mautino
 
SYNOPSIS AS INTRODUCED:
 		













215 ILCS 5/143.27
  from Ch. 73, par. 755.27







    Amends the Illinois Insurance Code.  Makes a technical change in a Section concerning the
time within which to make repairs to damaged property.
















LRB094 02893 LJB 32894 b

















 


 


A BILL FOR









 











HB2193

LRB094 02893 LJB 32894 b






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    AN ACT concerning regulation.

 
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    Be it enacted by the People of the State of Illinois, 
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represented in the General Assembly: 


 
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    Section 5. The Illinois Insurance Code is amended by 
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changing Section 143.27 as follows:
 



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    (215 ILCS 5/143.27)  (from Ch. 73, par. 755.27)



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    Sec. 143.27. No insurance company may give to any named 
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insured any notice
of cancellation or nonrenewal of a policy of 
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fire and
and extended coverage
insurance, as defined in 
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subsection (b) of Section 143.13, covering property
which is 
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capable of being rehabilitated, without allowing the named 
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insured
a reasonable period of time in which to repair defects 
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in the insured property
or relevant portion thereof, to an 
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extent reasonably sufficient to facilitate
continued coverage 
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thereon.  The time reasonably allowable therefor (which
in no 
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event shall exceed ninety days) and the degree of sufficiency 
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of such
rehabilitative efforts which insurance companies shall 
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accept, may be determined
by a certificate from a licensed 
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contractor or architect and such rehabilitative
efforts shall 
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be in compliance with local municipal building codes.  The

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notice of need for repair shall be from the insurance company, 
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which may
be sent to the insured at any time during the policy 
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term, and which notice
shall commence the time period 
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established under this Section.
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(Source: P.A. 81-857.)