HB5927 93RD GENERAL ASSEMBLY

LRB093 17474 SAS 43141 b

93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB5927

Introduced 2/6/2004, by Frank J. Mautino

SYNOPSIS AS INTRODUCED:

215 ILCS 5/537.12 new

Amends the Illinois Insurance Code. Provides that the Illinois Insurance Guaranty Fund is entitled to the same rights and obligations under a large deductible policy as the insolvent insurer.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning insurance.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Insurance Code is amended by adding Section 537.12 as follows:

(215 ILCS 5/537.12 new)

Sec. 537.12. Rights and obligations under a large deductible policy. The Illinois Insurance Guaranty Fund is entitled to the same rights and obligations under a large deductible policy as the insolvent insurer.