92nd General Assembly
Summary of SB0864
   [ Home ]   [ Back ]   [ Legislation ]
Legislation:  
Please enter a bill number.



 Full Text  Bill Status
Senate Sponsors:
WALSH,T.

House Sponsors:
OSMOND-BEAUBIEN-BRADY-MAUTINO-BRUNSVOLD

Short description: 
REINSURANCE SECURITIZATION                                                 

Synopsis of Bill as introduced:
        Amends the Illinois Insurance Code. Creates the  Special  Purpose      
   Reinsurance  Vehicle  Law.  Authorizes   the  securitization of ceding      
   insurer's risks through the creation of  special  purpose  reinsurance      
   vehicles  (SPRV).  Establishes  the framework for the organization and      
   operation of SPRVs. Establishes capital  requirements  and  investment      
   limitations.  Requires  annual reports to the Department of Insurance.      
   Effective immediately.                                                      
 
Last action on Bill: PUBLIC ACT.............................. 92-0124

   Last action date: JUL-20-2001

           Location: Senate

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


   END OF INQUIRY 



 Full Text  Bill Status