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91_HB0120
LRB9100526JSpc
1 AN ACT to amend the Illinois Insurance Code by adding
2 Section 224.2.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Insurance Code is amended by
6 adding Section 224.2 as follows:
7 (215 ILCS 5/224.2 new)
8 Sec. 224.2. Insurance on another's life; notice. If a
9 company issues a policy of insurance covering the life of a
10 person other than the person purchasing the policy, the
11 company must notify in writing the individual whose life is
12 covered by the policy within 15 days after the issuance of
13 the policy.