Illinois General Assembly - Full Text of HB3707

LRB104 11351 BAB 21439 b

104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
HB3707

Introduced 2/18/2025, by Rep. Robyn Gabel

SYNOPSIS AS INTRODUCED:

215 ILCS 5/123D-1

Amends the Illinois Insurance Code. Makes a technical change in a Section concerning the purpose of the Article regarding nonprofit risk organizations.

A BILL FOR

AN ACT concerning regulation.

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 123D-1 as follows:

(215 ILCS 5/123D-1)

Sec. 123D-1. Purpose; construction. The The purpose of this Article is to provide for the organization of and issuance of a certificate of authority to nonprofit risk organizations that insure nonprofit organizations and that will qualify, and continue to qualify, as a qualified charitable risk pool, as defined in subsection (n) of Section 501 of the Internal Revenue Code.

(Source: P.A. 93-918, eff. 1-1-05.)