90th General Assembly
Summary of HB3230
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House Sponsors:

Short description: 
INS FINANCIAL REGULATION                                                   

Synopsis of Bill as introduced:
        Amends the Health Maintenance Organization Act  to  provide  that      
   entities  organized  under  that  Act  are  subject  to the Risk-Based      
   Capital Law. Amends the Illinois Insurance Code  in  relation  to  the      
   regulation of company finances.   Revises the definition of "qualified      
   business  entity"  with  respect  to  lending arrangements by domestic      
   captive companies.  Invalidates possessory liens held by  an  attorney      
   as  a  basis  for  withholding  files  or  otherwise with respect to a      
   company in rehabilitation or liquidation.  Provides for the  existence      
   of  domestic surplus lines insurers.  Requires reports to the Director      
   regarding fire insurance  procured  only  from  unauthorized  insurers      
   subject  to  tax  under the Fire Investigation Act.  Amends the Dental      
   Service Plan Act and the Voluntary Health Services Plans Act to  limit      
   certain  contingent  reserves  to  $1,500,000.  Amends the Farm Mutual      
   Insurance Company Act  of  1986  to  authorize  additional  investment      
   opportunities. Effective immediately.                                       
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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