Illinois General Assembly - Bill Status for SB0141

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Bill Status of SB0141 100th General Assembly

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Short Description: TITLE INS-CONSUMER PROTECTION

Senate Sponsors
Sen. Iris Y. Martinez

Last Action

Date	Chamber	Action
1/8/2013	Senate	Session Sine Die

Statutes Amended In Order of Appearance

215 ILCS 155/14

from Ch. 73, par. 1414

215 ILCS 155/14.1

215 ILCS 155/14.2 new

30 ILCS 105/5.786 new

Synopsis As Introduced
Amends the Title Insurance Act. Makes changes to the provision concerning fees paid by title insurance companies and independent escrowees. Creates a special income-earning fund, known as the Title Insurance Consumer Protection Fund, in the State Treasury. Sets forth the fees collected by the Department of Financial and Professional Regulation that shall be deposited in the Fund. Provides that money in the Fund shall be used solely for the purpose of providing restitution to consumers who have suffered monetary loss arising out of a transaction regulated by the Act. Provides that money in the Fund shall be subrogated to the amount of the restitution. Provides that money in the Fund may be transferred to the Professions Indirect Cost Fund. Amends the State Finance Act to create the Title Insurance Consumer Protection Fund. Makes other changes. Effective immediately.

Actions

Date	Chamber	Action
1/27/2011	Senate	Filed with Secretary by Sen. Iris Y. Martinez
1/27/2011	Senate	First Reading
1/27/2011	Senate	Referred to Assignments
2/9/2011	Senate	Assigned to Commerce
3/3/2011	Senate	Postponed - Commerce
3/10/2011	Senate	Postponed - Commerce
3/17/2011	Senate	Postponed - Commerce
3/18/2011	Senate	Rule 3-9(a) / Re-referred to Assignments
1/8/2013	Senate	Session Sine Die

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