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| [ House Amendment 002 ] |
91_HB3926ham001
LRB9111812STsbam01
1 AMENDMENT TO HOUSE BILL 3926
2 AMENDMENT NO. . Amend House Bill 3926 as follows:
3 by replacing the title with the following:
4 "AN ACT to amend the Home Repair and Remodeling Act
5 concerning insurance requirements."; and
6 by replacing everything after the enacting clause with the
7 following:
8 "Section 5. The Home Repair and Remodeling Act is amended
9 by changing Section 25 as follows:
10 (815 ILCS 513/25)
11 Sec. 25. Insurance required. Any person engaged in the
12 business of home repair and remodeling shall obtain and
13 maintain in full force and effect during the operation of the
14 business public liability and property damage insurance in
15 the amount of $100,000 per person and $300,000 per occurrence
16 of bodily injury and, $50,000 per occurrence for property
17 damage, and in the amount of $10,000 per occurrence for
18 improper home repair or remodeling not in conformance with
19 applicable State, county, or municipal building codes, unless
20 the person has a net worth of not less than $1,000,000 as
21 determined on the basis of the person's most recent financial
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1 statement, prepared within 13 months.
2 On and after January 1, 2001, any person engaged in the
3 business of home repair and remodeling shall obtain and
4 maintain in full force and effect during the operation of the
5 business public liability and property damage insurance in
6 the amount of $10,000 per occurrence for improper home repair
7 or remodeling not in conformance with applicable State,
8 county, or municipal codes, unless the person has a net worth
9 of not less than $1,000,000 as determined on the basis of the
10 person's most recent financial statement, prepared within 13
11 months.
12 (Source: P.A. 91-230, eff. 1-1-00.)
13 Section 99. Effective date. This Act takes effect upon
14 becoming law.".