PARKE-BLACK-OSMOND-MAUTINO. (MADIGAN,R) 215 ILCS 5/500-5 new 215 ILCS 5/500-10 new 215 ILCS 5/500-15 new 215 ILCS 5/500-20 new 215 ILCS 5/500-25 new 215 ILCS 5/500-30 new 215 ILCS 5/500-35 new 215 ILCS 5/500-40 new 215 ILCS 5/500-45 new 215 ILCS 5/500-50 new 215 ILCS 5/500-55 new 215 ILCS 5/500-60 new 215 ILCS 5/500-65 new 215 ILCS 5/500-70 new 215 ILCS 5/500-75 new 215 ILCS 5/500-80 new 215 ILCS 5/500-85 new 215 ILCS 5/500-90 new 215 ILCS 5/500-95 new 215 ILCS 5/500-100 new 215 ILCS 5/500-105 new 215 ILCS 5/500-110 new 215 ILCS 5/500-115 new 215 ILCS 5/500-120 new 215 ILCS 5/500-125 new 215 ILCS 5/500-130 new 215 ILCS 5/500-135 new 215 ILCS 5/500-140 new 215 ILCS 5/500-145 new 215 ILCS 5/500-150 new 215 ILCS 5/490.1 rep. 215 ILCS 5/491.1 rep. 215 ILCS 5/492.2 rep. 215 ILCS 5/493.2 rep. 215 ILCS 5/494.1 rep. 215 ILCS 5/494.2 rep. 215 ILCS 5/495.1 rep. 215 ILCS 5/495.2 rep. 215 ILCS 5/496.2 rep. 215 ILCS 5/497.1 rep. 215 ILCS 5/498.1 rep. 215 ILCS 5/499.1 rep. 215 ILCS 5/500.1 rep. 215 ILCS 5/501.2 rep. 215 ILCS 5/502.2 rep. 215 ILCS 5/503.1 rep. 215 ILCS 5/504 rep. 215 ILCS 5/504.1 rep. 215 ILCS 5/505.1 rep. 215 ILCS 5/505.2 rep. 215 ILCS 5/506.1 rep. 215 ILCS 5/507.1 rep. 215 ILCS 5/508.1 rep. 215 ILCS 5/508.2 rep. 215 ILCS 5/509.1 rep. 215 ILCS 5/510.2 rep. 215 ILCS 5/511.1 rep. Amends the Illinois Insurance Code. Provides for the licensing and regulation of insurance producers. Sets forth the powers of the Department of Insurance with respect to enforcement and disciplinary proceedings. Establishes fees for licenses and applications. Provides for the licensing of persons engaged in providing continuing education materials. Provides for reciprocity with respect to insurance producers licensed in other jurisdictions. Effective January 1, 2002. HOUSE AMENDMENT NO. 1. Provides that no liability shall arise as a result of disclosure to or by the Director of Insurance or other regulatory organization of information regarding termination of employment of an insurance producer. Removes provision that an absence of actual malice is necessary to preclude liability. HOUSE AMENDMENT NO. 2. Adds reference to: 215 ILCS 5/445 from Ch. 73, par. 1057 Amends the Illinois Insurance Code. Provides that surplus lines producers must complete a prelicensing course of study rather than pass an examination before obtaining a license as a surplus lines producer. HOUSE AMENDMENT NO. 3. Provides that notice to an insured regarding compensation of a producer needs to include an acknowledgement signed by the insured only when the compensation exceeds 10% of the premium. Provides for prorated refunds of the compensation if a policy is cancelled. SENATE AMENDMENT NO. 1. Provides that if a policy or contract is canceled within the first half of its term, rather than at any time, the producer must return to the insured at a prorated amount any compensation or service fee the producer received on the contract or policy. Provides that failure to report the termination of a business relationship between an insurer and a producer based upon cause that is a basis for disciplinary action may be punished by the imposition of a civil penalty or by suspension or revocation of any license or certificate of authority. FEB-27-2001 H FILED WITH CLERK FEB-27-2001 H FIRST READING FEB-27-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES FEB-28-2001 H ASSIGNED TO COMMITTEE INSURANCE MAR-14-2001 H AMENDMENT NO. 01-INSURANCE H MAR-14-2001 H ADOPTED MAR-14-2001 H AMENDMENT NO. 02-INSURANCE H MAR-14-2001 H ADOPTED MAR-14-2001 H AMENDMENT NO. 03-INSURANCE H MAR-14-2001 H ADOPTED MAR-14-2001 H DO PASS AMENDED/SHORT DEBATE 012-000-000 HINS MAR-14-2001 H PLACED CALENDAR 2ND READING-SHORT DEBATE MAR-20-2001 H SECOND READING-SHORT DEBATE MAR-20-2001 H PLCD CAL ORDER 3RD READING-SHORT DEBATE MAR-21-2001 H THIRD READING/SHORT DEBATE/PASSED 116-000-000 MAR-21-2001 H ADDED AS A JOINT SPONSOR BLACK MAR-21-2001 H ADDED AS A JOINT SPONSOR OSMOND MAR-21-2001 H ADDED AS A JOINT SPONSOR MAUTINO MAR-22-2001 S ARRIVE IN SENATE MAR-22-2001 S PLACED CALENDAR ORDER OF FIRST READING 01-03-27 MAR-22-2001 S CHIEF SPONSOR MADIGAN,R MAR-22-2001 S FIRST READING MAR-22-2001 S REFERRED TO SENATE RULES COMMITTEE RULES APR-06-2001 S ASSIGNED TO COMMITTEE INS & PENS. APR-24-2001 S AMENDMENT NO. 01-INS & PENS. S APR-24-2001 S ADOPTED APR-24-2001 S DO PASS AS AMENDED 010-000-000 SINS APR-24-2001 S PLACED ON CALENDAR ORDER OF 2ND READING 01-04-25 APR-25-2001 S SECOND READING APR-25-2001 S PLACED ON CALENDAR ORDER OF 3RD READING 01-04-26 MAY-03-2001 S THIRD READING - PASSED 056-000-000 MAY-03-2001 H ARRIVE IN HOUSE MAY-03-2001 H PLACED ON CALENDAR ORDER OF CONCURRENCE 01 MAY-15-2001 H MOTION FILED CONCUR 01/PARKE MAY-15-2001 H MOTION REFERRED TO HRUL MAY-15-2001 H CALENDAR ORDER OF CONCURRENCE 01 MAY-21-2001 H MOTION TO CONCUR SA #1 MAY-21-2001 H RECOMMENDS BE ADOPTED HRUL MAY-21-2001 H CALENDAR ORDER OF CONCURRENCE 01 MAY-22-2001 H HSE CONCURS IN SEN AMENDMENTS (NO.) 01/115-000-000 MAY-22-2001 H PASSED BOTH HOUSES JUN-20-2001 H SENT TO THE GOVERNOR AUG-16-2001 H GOVERNOR APPROVED AUG-16-2001 H EFFECTIVE DATE 02-01-01 AUG-16-2001 H PUBLIC ACT.............................. 92-0386 END OF INQUIRY Full Text Bill Summary