House Sponsors: MAUTINO-BRADY. Senate Sponsors: WALSH,T-VIVERITO Short description: SERVICE CONTRACT ACT Synopsis of Bill as introduced: Amends the Illinois Insurance Code. Adds a caption to a Section concerning the refund of unearned premium upon death of the insured. HOUSE AMENDMENT NO. 1. Deletes reference to: 215 ILCS 5/357.31 Adds reference to: New Act Replaces the title and everything after the enacting clause. Creates the Service Contract Act. Provides for the regulation of service contracts by the Director of Insurance. Establishes minimum financial requirements for sellers of service contracts. Sets forth requirements for service contract reimbursement policies. Requires registration of service contract providers and establishes record keeping and disciplinary procedures. Applies to service contracts sold 90 or more days after the effective date of this Act. Effective immediately. FISCAL NOTE, H-AM 1 (Dpt. of Insurance) No fiscal impact. STATE MANDATES ACT FISCAL NOTE, H-AM 1 HB 3464 fails to create a State mandate. SENATE AMENDMENT NO. 1. Exempts service contract providers that manufacture, build, sell, or lease the product that is the subject of the service contract from the financial, reimbursement policy, and registration requirements of the Act. Requires sellers, other than manufacturers, of motor vehicles to comply with all provisions of the Act. Last action on Bill: PUBLIC ACT.............................. 90-0711 Last action date: 98-08-07 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 1 END OF INQUIRY Full Text Bill Status