House Sponsors: CAPPARELLI-WOJCIK-BUGIELSKI-DEUCHLER-BRUNSVOLD-JONES,SHIRLEY LANG. Short description: FINAN INST INSURANCE SALES LAW Synopsis of Bill as introduced: Amends the Illinois Banking Act, the Illinois Savings and Loan Act of 1985, the Savings Bank Act, the Illinois Credit Union Act, the Corporate Fiduciary Act, and the Illinois Insurance Code. Authorizes financial institutions to act as agents for insurance companies. Establishes license requirements for insurance sales. Sets forth standards of conduct. Provides that a financial institution transacting an insurance business prior to the effective date of this amendatory Act has 180 days after that effective date to bring its insurance operations into compliance with the provisions of this amendatory Act. Effective immediately. FISCAL NOTE (Dept. of Insurance) The Dept. does not anticipate any increased cost due to HB375. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status