Illinois General Assembly - Bill Status for HB5677
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 Bill Status of HB5677  96th General Assembly

Short Description:  TITLE INS-SINGLE PARTY

House Sponsors
Rep. Careen M. Gordon - Lou Lang

Senate Sponsors
(Sen. William R. Haine)

Last Action
DateChamber Action
  8/20/2010HousePublic Act . . . . . . . . . 96-1457

Statutes Amended In Order of Appearance
215 ILCS 155/26


Synopsis As Introduced
Amends the Title Insurance Act. In the provision concerning settlement funds, provides that a purchaser, a seller, or a lender are each considered a single party to the transaction, regardless of the number of people or entities making up the purchaser, seller, or lender. Effective January 1, 2011.

Senate Floor Amendment No. 1
Makes changes to the provision concerning settlement funds. Provides that where funds in the aggregate amount of $50,000 or greater are received from any purchaser of residential real property, as "residential real property" is defined in the Act, the aggregate amount may consist of less than $50,000 per form in good funds in the forms of (i) cashier's checks, certified checks, bank money orders, official bank checks, or teller's checks and (ii) a check drawn on the trust account of any lawyer or real estate broker and of up to $5,000 in good funds in the form of a personal check or checks.

Senate Floor Amendment No. 2
Makes a technical correction.

Actions 
DateChamber Action
  2/9/2010HouseFiled with the Clerk by Rep. Lou Lang
  2/9/2010HouseFirst Reading
  2/9/2010HouseReferred to Rules Committee
  2/16/2010HouseAssigned to Judiciary I - Civil Law Committee
  3/10/2010HouseDo Pass / Short Debate Judiciary I - Civil Law Committee; 016-000-000
  3/10/2010HousePlaced on Calendar 2nd Reading - Short Debate
  3/18/2010HouseSecond Reading - Short Debate
  3/18/2010HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3/26/2010HouseChief Sponsor Changed to Rep. Careen M. Gordon
  3/26/2010HouseAdded Chief Co-Sponsor Rep. Lou Lang
  3/26/2010HouseThird Reading - Short Debate - Passed 089-014-000
  4/6/2010SenateArrive in Senate
  4/6/2010SenatePlaced on Calendar Order of First Reading April 13, 2010
  4/12/2010SenateChief Senate Sponsor Sen. William R. Haine
  4/12/2010SenateFirst Reading
  4/12/2010SenateReferred to Assignments
  4/13/2010SenateAssigned to Judiciary
  4/20/2010SenateDo Pass Judiciary; 007-000-000
  4/20/2010SenatePlaced on Calendar Order of 2nd Reading April 21, 2010
  4/23/2010SenateSecond Reading
  4/23/2010SenatePlaced on Calendar Order of 3rd Reading April 27, 2010
  5/3/2010SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. William R. Haine
  5/3/2010SenateSenate Floor Amendment No. 1 Referred to Assignments
  5/5/2010SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. William R. Haine
  5/5/2010SenateSenate Floor Amendment No. 2 Referred to Assignments
  5/5/2010SenateSenate Floor Amendment No. 1 Assignments Refers to Executive
  5/5/2010SenateSenate Floor Amendment No. 2 Assignments Refers to Executive
  5/5/2010SenateSenate Floor Amendment No. 1 Recommend Do Adopt Executive; 010-000-002
  5/5/2010SenateSenate Floor Amendment No. 2 Recommend Do Adopt Executive; 010-000-002
  5/6/2010SenateRecalled to Second Reading
  5/6/2010SenateSenate Floor Amendment No. 1 Adopted; Haine
  5/6/2010SenateSenate Floor Amendment No. 2 Adopted; Haine
  5/6/2010SenatePlaced on Calendar Order of 3rd Reading
  5/6/2010SenateThird Reading - Passed; 055-000-002
  5/6/2010HouseArrived in House
  5/6/2010HousePlaced on Calendar Order of Concurrence Senate Amendment(s) 1, 2
  5/7/2010HouseSenate Floor Amendment No. 1 Motion Filed Concur Rep. Careen M. Gordon
  5/7/2010HouseSenate Floor Amendment No. 2 Motion Filed Concur Rep. Careen M. Gordon
  5/7/2010HouseSenate Floor Amendment No. 1 Motion to Concur Referred to Rules Committee
  5/7/2010HouseSenate Floor Amendment No. 2 Motion to Concur Referred to Rules Committee
  5/7/2010HouseSenate Floor Amendment No. 1 Motion to Concur Recommends Be Adopted Rules Committee; 003-001-000
  5/7/2010HouseSenate Floor Amendment No. 2 Motion to Concur Recommends Be Adopted Rules Committee; 003-001-000
  5/26/2010HouseSenate Floor Amendment No. 1 House Concurs 109-001-000
  5/26/2010HouseSenate Floor Amendment No. 2 House Concurs 109-001-000
  5/26/2010HousePassed Both Houses
  6/24/2010HouseSent to the Governor
  8/20/2010HouseGovernor Approved
  8/20/2010HouseEffective Date January 1, 2011
  8/20/2010HousePublic Act . . . . . . . . . 96-1457

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