State of Illinois
92^nd General Assembly
Legislation

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92_SB0333sam001

 










                                           LRB9200974JSmbam01

 1                    AMENDMENT TO SENATE BILL 333

 2        AMENDMENT NO.     .  Amend Senate Bill  333  on  page  1,
 3    line 6, by changing "5/507." to "5/507.2"; and

 4    on  page 1, line 15, by changing "an" to "a registered firm";
 5    and

 6    on page 1, line 16, by deleting "insurance producer"; and

 7    on  page  1  by  inserting  immediately  below  line  17  the
 8    following:
 9        "For purposes of this Section  only,  a  registered  firm
10    also  includes  a  sole  proprietorship  that  transacts  the
11    business of insurance as an insurance agency."; and

12    on  page 1, line 21, by changing "an" to "a registered firm";
13    and

14    on page 1, line 22, by deleting "insurance producer"; and

15    on page 1, line  26,  by  changing  "insurance  producer"  to
16    "registered firm"; and

17    on  page  2,  line  6,  by  changing  "insurance producer" to
18    "registered firm"; and

19    on page 2, line 14, by changing "agent" to "producer"; and
 
                            -2-            LRB9200974JSmbam01
 1    on page 2, line 16, by changing "business" to "coverage"; and

 2    on page 2, line 22, by changing "for" to "or primarily  for";
 3    and

 4    on page 2, line 23, by deleting "or"; and

 5    on  page  2,  line  24, by changing "health" to "accident and
 6    health"; and

 7    on page 2 by replacing line 25 with the following:
 8        "insurance;
 9             (5)  when the independent insurance producer  is  in
10        default  for  nonpayment  of  premiums under the contract
11        with the insurer; or
12             (6)  to any insurance  company's  obligations  under
13        Sections 143.17 and 143.17a of this Code."; and

14    on  page  2  by  inserting  immediately  below  line  28  the
15    following:
16        "For  purposes  of  this  Section,  an insurance producer
17    shall be deemed to have  agreed  to  act  primarily  for  one
18    company  or  a group of affiliated insurance companies if the
19    producer (i) receives 75% or more of  his  or  her  insurance
20    related commissions from one company or a group of affiliated
21    companies  or  (ii) places 75% or more of his or her policies
22    with one company or a group of affiliated companies."; and

23    on page 2 by deleting line 34; and

24    on page 3 by deleting lines 1 and 2.

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