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92_HB1385 LRB9203584JSpc 1 AN ACT concerning insurance. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Limited Health Service Organization Act 5 is amended by changing Section 2005 as follows: 6 (215 ILCS 130/2005) (from Ch. 73, par. 1502-5) 7 Sec. 2005. Claims Liabilities. 8 (a) AEverylimited health service organization shall, 9 at all times, maintain liabilities in an amount estimated in 10 the aggregate to provide for the payment of all claims 11 incurred and any due and unpaid provider capitation, whether 12 reported or unreported, which are unpaid and for which such 13 organization is or may be liable, and to provide for the 14 expense of adjustment or settlement of such claims. Such 15 liabilities shall be computed in accordance with regulations 16 promulgated by the Director upon reasonable consideration of 17 the ascertained experience and character of such business for 18 the purpose of adequately protecting enrollees and securing 19 the solvency of such organizations. 20 (b) Whenever the claim and claim expense experience of 21 any such organization shows the liabilities calculated in 22 accordance with such regulations to be inadequate, the 23 Director may require such organization to maintain additional 24 liabilities. 25 (Source: P.A. 86-600.)