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 Bill Status of SB1545  100th General Assembly


Short Description:  VEH CD-INS PAYMENTS-LIENHOLDER

Senate Sponsors
Sen. John G. Mulroe

Last Action
DateChamber Action
  8/4/2017SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments

Statutes Amended In Order of Appearance
625 ILCS 5/3-202.5 new


Synopsis As Introduced
Amends the Illinois Vehicle Code. Provides that if an owner of a vehicle has comprehensive, collision, or other insurance coverage for the damage or loss of a vehicle and the vehicle's certificate of title discloses a lienholder of record, any insurer paying a claim for the damage or loss of the vehicle shall issue the payment directly to the business repairing the vehicle or to both the owner of the vehicle and the lienholder of record. Provides that the provision does not apply to a claim made by a lienholder on a vehicle to secure a loan when the vehicle owner has breached his or her commitment to provide insurance coverage for the damage or loss of the vehicle.

Senate Committee Amendment No. 1
Replaces everything after the enacting clause. Amends the Illinois Vehicle Code. Provides that an owner of a vehicle shall maintain comprehensive, collision, or other insurance coverage for the damage or loss of a vehicle if the coverage is required under the terms of a loan agreement between the owner and a lienholder identified on the vehicle's certificate of title. Provides that an insurer paying a claim for the damage or loss of a vehicle shall issue the payment to both the owner of the vehicle and the lienholder, except when the claim is paid under a lienholder's collateral protection insurance policy on a vehicle securing the lienholder's loan when the vehicle owner has failed to satisfy a loan condition to provide insurance coverage for the damage or loss of the vehicle.

Actions 
DateChamber Action
  2/9/2017SenateFiled with Secretary by Sen. John G. Mulroe
  2/9/2017SenateFirst Reading
  2/9/2017SenateReferred to Assignments
  2/22/2017SenateAssigned to Insurance
  3/1/2017SenatePostponed - Insurance
  3/9/2017SenatePostponed - Insurance
  3/10/2017SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. John G. Mulroe
  3/10/2017SenateSenate Committee Amendment No. 1 Referred to Assignments
  3/15/2017SenateSenate Committee Amendment No. 1 Assignments Refers to Insurance
  3/15/2017SenateSenate Committee Amendment No. 1 Adopted
  3/16/2017SenateDo Pass as Amended Insurance; 010-000-000
  3/16/2017SenatePlaced on Calendar Order of 2nd Reading March 28, 2017
  8/4/2017SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments

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