State of Illinois
91st General Assembly
Legislation

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91_HB3926eng

 
HB3926 Engrossed                               LRB9111812STsb

 1        AN ACT to  amend  the  Home  Repair  and  Remodeling  Act
 2    concerning insurance requirements.

 3        Be  it  enacted  by  the People of the State of Illinois,
 4    represented in the General Assembly:

 5        Section 5. The Home Repair and Remodeling Act is  amended
 6    by changing Section 25 as follows:

 7        (815 ILCS 513/25)
 8        Sec.  25.  Insurance required.  Any person engaged in the
 9    business of home  repair  and  remodeling  shall  obtain  and
10    maintain in full force and effect during the operation of the
11    business  public  liability  and property damage insurance in
12    the amount of $100,000 per person and $300,000 per occurrence
13    of bodily injury and, $50,000  per  occurrence  for  property
14    damage,  and  in  the  amount  of  $10,000 per occurrence for
15    improper home repair or remodeling not  in  conformance  with
16    applicable State, county, or municipal building codes, unless
17    the  person  has  a  net worth of not less than $1,000,000 as
18    determined on the basis of the person's most recent financial
19    statement, prepared within 13 months.
20        On and after January 1, 2001, any person engaged  in  the
21    business  of  home  repair  and  remodeling  shall obtain and
22    maintain in full force and effect during the operation of the
23    business public liability and property  damage  insurance  in
24    the  amount  of  $10,000  per  occurrence  for home repair or
25    remodeling not in conformance with applicable State,  county,
26    or  municipal codes, unless the person has a net worth of not
27    less than $1,000,000  as  determined  on  the  basis  of  the
28    person's  most recent financial statement, prepared within 13
29    months.
30    (Source: P.A. 91-230, eff. 1-1-00.)
 
HB3926 Engrossed            -2-                LRB9111812STsb
 1        Section 99. Effective date. This Act  takes  effect  upon
 2    becoming law.

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