Illinois General Assembly - Bill Status for HB3784

Amends the Illinois Insurance Code in the provision concerning a mutual company's conversion to a stock company. Provides that the mutual company's meeting to vote upon the plan of conversion shall not be set for a date less than 30 days (rather than 60 days) after the date when the notice of the meeting is mailed by the mutual company. Makes a technical correction. Effective immediately.

Replaces everything after the enacting clause. Amends the Illinois Insurance Code. Provides that no individual or group major medical accident and health policy shall contain any provision whereby benefits otherwise payable under the policy are subject to reduction solely on account of the existence of similar benefits provided under other major medical accident and health insurance policies where such reduction would operate to reduce total benefits payable under the policies below an amount equal to 100% of the total allowable expenses provided under any of the policies. Amends the Health Maintenance Organization Act. Provides that the Director of Insurance may, after notice and hearing, promulgate reasonable rules and regulations as are necessary and proper to establish specific standards, including standards for the full and fair disclosure of health care services provided by group or nongroup contracts (rather that only group contracts) or evidences of coverage. Effective immediately.

Replaces everything after the enacting clause. Amends the Currency Exchange Act. Defines "controlling person". Provides that a currency exchange is not prohibited from accepting any check without regard to the date imprinted on the check, as long as the check is immediately cashed, deposited, and processed in the ordinary course of business. Further provides that a community or ambulatory currency exchange is permitted to place self-service automated terminals on its premises, engage in and charge a fee for the transmission of information upon the request of a consumer, advertise and distribute materials concerning legal services and products on its premises, and provide consumers with the service of third-party travel reservations and ticketing services. Makes changes to provisions concerning community currency exchanges and the Secretary of Financial and Professional Regulation's authority to fine a licensee or suspend or revoke licenses under the Act. Makes other changes.

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