WALSH,T. (OSMOND-BEAUBIEN-BRADY-MAUTINO-BRUNSVOLD) 215 ILCS 5/Art. XIE heading new 215 ILCS 5/179E-1 new 215 ILCS 5/179E-5 new 215 ILCS 5/179E-10 new 215 ILCS 5/179E-15 new 215 ILCS 5/179E-20 new 215 ILCS 5/179E-25 new 215 ILCS 5/179E-25 new 215 ILCS 5/179E-35 new 215 ILCS 5/179E-40 new 215 ILCS 5/179E-45 new 215 ILCS 5/179E-50 new 215 ILCS 5/179E-55 new 215 ILCS 5/179E-60 new 215 ILCS 5/179E-65 new 215 ILCS 5/179E-70 new 215 ILCS 5/179E-75 new 215 ILCS 5/179E-80 new 215 ILCS 5/179E-85 new 215 ILCS 5/179E-90 new 215 ILCS 5/179E-95 new 215 ILCS 5/179E-100 new Amends the Illinois Insurance Code. Creates the Special Purpose Reinsurance Vehicle Law. Authorizes the securitization of ceding insurer's risks through the creation of special purpose reinsurance vehicles (SPRV). Establishes the framework for the organization and operation of SPRVs. Establishes capital requirements and investment limitations. Requires annual reports to the Department of Insurance. Effective immediately. FEB-21-2001 S FIRST READING FEB-21-2001 S REFERRED TO SENATE RULES COMMITTEE RULES FEB-28-2001 S ASSIGNED TO COMMITTEE INS & PENS. MAR-06-2001 S DO PASS 010-000-000 SINS MAR-06-2001 S PLACED ON CALENDAR ORDER OF 2ND READING 01-03-07 MAR-08-2001 S SECOND READING MAR-08-2001 S PLACED ON CALENDAR ORDER OF 3RD READING 01-03-20 MAR-30-2001 S THIRD READING - PASSED 054-000-000 MAR-30-2001 H ARRIVE IN HOUSE MAR-30-2001 H HOUSE SPONSOR OSMOND MAR-30-2001 H FIRST READING MAR-30-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES APR-03-2001 H ASSIGNED TO COMMITTEE INSURANCE APR-17-2001 H ADDED AS A JOINT SPONSOR BEAUBIEN APR-17-2001 H ADDED AS A JOINT SPONSOR BRADY APR-17-2001 H ADDED AS A JOINT SPONSOR MAUTINO APR-17-2001 H ADDED AS A JOINT SPONSOR BRUNSVOLD APR-18-2001 H DO PASS/SHORT DEBATE 011-000-001 HINS APR-18-2001 H PLACED CALENDAR 2ND READING-SHORT DEBATE APR-19-2001 H SECOND READING-SHORT DEBATE APR-19-2001 H PLCD CAL ORDER 3RD READING-SHORT DEBATE MAY-01-2001 H THIRD READING/SHORT DEBATE/PASSED 114-001-000 MAY-01-2001 S PASSED BOTH HOUSES MAY-30-2001 S SENT TO THE GOVERNOR JUL-20-2001 S GOVERNOR APPROVED JUL-20-2001 S EFFECTIVE DATE 01-07-20 JUL-20-2001 S PUBLIC ACT.............................. 92-0124 END OF INQUIRY Full Text Bill Summary