Senate Sponsors: PETERSON. House Sponsors: OSMOND-BRADY-MAUTINO-PARKE-WOOLARD Short description: INS LLOYDS BUSINESS-SOS Synopsis of Bill as introduced: Amends the Illinois Insurance Code to make a technical change in a Section concerning Lloyds type insurers. Amends the Business Corporation Act of 1983, the Limited Liability Company Act, and the Revised Uniform Limited Partnership Act to make technical changes. SENATE AMENDMENT NO. 1. Deletes reference to: 805 ILCS 5/1.25 805 ILCS 180/1-30 805 ILCS 210/104 Adds reference to: 805 ILCS 5/13.05 from Ch. 32, par. 13.05 805 ILCS 180/1-25 805 ILCS 180/45-5 805 ILCS 210/105 from Ch. 106 1/2, par. 151-6 805 ILCS 210/902 from Ch. 106 1/2, par. 159-2 Replaces the title and everything after the enacting clause. Amends the Illinois Insurance Code. Abolishes the requirement that foreign and alien incorporated and individual unincorporated underwriters transacting an insurance business as domestic, foreign, or alien Lloyds obtain a certificate of authority from the Secretary of State. Amends the Business Corporation Act of 1983 to abolish the requirement that before transacting business in this State a foreign corporation organized to transact an insurance business as a Lloyds obtain a certificate of authority to transact business in this State from the Secretary of State. Amends the Limited Liability Company Act to authorize a limited liability company to transact business as a Lloyds and to abolish the requirement that before transacting business in this State a foreign limited liability company transacting a Lloyds business be admitted to transact business in this State by the Secretary of State. Amends the Revised Uniform Limited Partnership Act to authorize a limited partnership to transact business as a Lloyds and to abolish the requirement that before transacting business in this State a foreign limited partnership transacting a Lloyds business be admitted to transact business in this State by the Secretary of State. Effective immediately. HOUSE AMENDMENT NO. 1. Removes provision authorizing a foreign corporation to obtain a certificate of authority under the Business Corporation Act of 1983 for the purpose of carrying on the business of a syndicate or limited syndicate under the Illinois Insurance Code. Removes a provision authorizing a limited liability company to carry on an insurance business as a syndicate or limited syndicate under the Illinois Insurance Code. Amends the Business Corporation Act of 1983 to provide that certain insurance syndicates and limited syndicates and members of certain groups of underwriters do not have to file an annual report. Last action on Bill: PUBLIC ACT.............................. 91-0593 Last action date: 99-08-14 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 1 END OF INQUIRY Full Text Bill Status