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[ Senate Amendment 001 ] |
92_HB0800ham001 LRB9207630JScsam02 1 AMENDMENT TO HOUSE BILL 800 2 AMENDMENT NO. . Amend House Bill 800 on page 1, line 3 15, by changing "an" to "a registered firm"; and 4 on page 1, line 16, by deleting "insurance producer"; and 5 on page 1 by inserting immediately below line 17 the 6 following: 7 "For purposes of this Section only, a registered firm 8 also includes a sole proprietorship that transacts the 9 business of insurance as an insurance agency."; and 10 on page 1, line 21, by changing "an" to "a registered firm"; 11 and 12 on page 1, line 22, by deleting "insurance producer"; and 13 on page 1, line 26, by changing "insurance producer" to 14 "registered firm"; and 15 on page 2, line 6, by changing "insurance producer" to 16 "registered firm"; and 17 on page 2, line 14, by changing "agent" to "producer"; and 18 on page 2, line 16, by changing "business" to "coverage"; and 19 on page 2, line 22, by changing "for" to "or primarily for"; -2- LRB9207630JScsam02 1 and 2 on page 2, line 23, by deleting "or"; and 3 on page 2, line 24, by changing "health" to "accident and 4 health"; and 5 on page 2 by replacing line 25 with the following: 6 "insurance; 7 (5) when the independent insurance producer is in 8 default for nonpayment of premiums under the contract 9 with the insurer; or 10 (6) to any insurance company's obligations under 11 Sections 143.17 and 143.17a of this Code."; and 12 on page 2 by inserting immediately below line 28 the 13 following: 14 "For purposes of this Section, an insurance producer 15 shall be deemed to have agreed to act primarily for one 16 company or a group of affiliated insurance companies if the 17 producer (i) receives 75% or more of his or her insurance 18 related commissions from one company or a group of affiliated 19 companies or (ii) places 75% or more of his or her policies 20 with one company or a group of affiliated companies."; and 21 on page 2 by deleting line 34; and 22 on page 3 by deleting lines 1 and 2.