92nd General Assembly
Summary of HB5607
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House Sponsors:
BRUNSVOLD-GRANBERG-RUTHERFORD-PARKE-YARBROUGH, HASSERT AND BEAUBIEN.

Senate Sponsors:
PETERSON

Short description: 
INS ANNUITY FORFEIT RATE                                                   

Synopsis of Bill as introduced:
        Amends the Illinois Insurance Code.  Provides that from  July  1,      
   2002  until  July  1,  2005  the  rate of interest used in calculating      
   minimum nonforfeiture amounts for certain  contracts  shall  be  1.5%,      
   rather than 3%, per year.  Effective July 1, 2002.                          
          FISCAL NOTE (Department of Insurance)                                
          House Bill 5607 will have no fiscal impact on the Department.        
 
Last action on Bill: PUBLIC ACT.............................. 92-0541

   Last action date: JUN-12-2002

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



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