Illinois General Assembly - Full Text of SB0692
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Full Text of SB0692  100th General Assembly

SB0692sam001 100TH GENERAL ASSEMBLY

Sen. John G. Mulroe

Filed: 2/14/2017

 

 


 

 


 
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1
AMENDMENT TO SENATE BILL 692

2    AMENDMENT NO. ______. Amend Senate Bill 692 on page 2, by
3replacing lines 1 through 12 with the following:
 
4    "(d) Nothing in Section 500-100 of this Code shall be
5construed to require a limited lines producer license or any
6other form or class of producer's license for financial
7institutions, or their employees, if the financial institution
8has purchased or sponsored a group credit life, credit accident
9and health, credit casualty, credit property, or other group
10credit insurance policy or program under which the financial
11institution enrolls or performs other administrative services,
12or both, to enable individuals to purchase insurance coverage
13under the group credit insurance policy sold by a licensed
14producer in compliance with Section 155.56. A financial
15institution that performs enrollment or other administrative
16services, or both, with respect to its group credit insurance
17policies or programs shall be deemed to be in compliance with

 

 

10000SB0692sam001- 2 -LRB100 06796 SMS 21861 a

1paragraph (2) of subsection (b) of Section 500-20 of this
2Code.".