90th General Assembly
Summary of HB3464
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House Sponsors:

Senate Sponsors:

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      
          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


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