SB2242eng 93RD GENERAL ASSEMBLY

SB2242 Engrossed LRB093 15874 RCE 41491 b

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 changing Section 801.1 as follows:

(215 ILCS 5/801.1)

Sec. 801.1. Legislative purpose Purpose. The purpose of this Article is to require insurers to make mine subsidence insurance coverage available for residences, living units and commercial buildings located in Illinois; to establish the Illinois Mine Subsidence Insurance Fund; to divide the Fund into separate residential and commercial sub-funds; and to make the Fund the reinsurer for the mine subsidence insurance made available under this Article.

(Source: P.A. 88-379.)