Bill Status of SB2648

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SB2648 - 104th General Assembly

TITLE INSURANCE TRANSFER
Last Action
4/10/2025 - Senate: Referred to Assignments
Senate Sponsors
Sen. Bill Cunningham and Paul Faraci
Statutes Amended In Order of Appearance
20 ILCS 1205/6
30 ILCS 105/6z-26
215 ILCS 155/3from Ch. 73, par. 1403
215 ILCS 155/3.5 new
215 ILCS 155/4from Ch. 73, par. 1404
215 ILCS 155/4.1
215 ILCS 155/5from Ch. 73, par. 1405
215 ILCS 155/6from Ch. 73, par. 1406
215 ILCS 155/7from Ch. 73, par. 1407
215 ILCS 155/8from Ch. 73, par. 1408
215 ILCS 155/9from Ch. 73, par. 1409
215 ILCS 155/12from Ch. 73, par. 1412
215 ILCS 155/13from Ch. 73, par. 1413
215 ILCS 155/14.1
215 ILCS 155/16from Ch. 73, par. 1416
215 ILCS 155/16.1
215 ILCS 155/17from Ch. 73, par. 1417
215 ILCS 155/17.1
215 ILCS 155/18from Ch. 73, par. 1418
215 ILCS 155/19from Ch. 73, par. 1419
215 ILCS 155/20from Ch. 73, par. 1420
215 ILCS 155/21from Ch. 73, par. 1421
215 ILCS 155/21.1
215 ILCS 155/21.2
215 ILCS 155/22from Ch. 73, par. 1422
215 ILCS 155/23from Ch. 73, par. 1423
765 ILCS 77/70
765 ILCS 77/71 new
Synopsis As Introduced
Amends the Title Insurance Act. Provides for the enforcement of the Act by the Department of Insurance (rather than the Department of Financial and Professional Regulation). Provides that all powers, duties, rights, and responsibilities of the Department of Financial and Professional Regulation and the Secretary of Financial and Professional Regulation under the Act are transferred to the Department of Insurance and Director of Insurance, respectively. Provides for the transfer of books, records, papers, documents, property, contracts, causes of action, pending business, and certain funds from the Department of Financial and Professional Regulation to the Department of Insurance. Provides that rules and proposed rules by the Department of Financial and Professional Regulation under the Act shall become rules and proposed rules of the Department of Insurance. Provides that all moneys received by the Department of Insurance under the Act shall be deposited into the Insurance Financial Regulation Fund (rather than the Financial Institution Fund). Makes conforming and grammatical changes throughout the Act. Amends the State Finance Act and the Financial Institutions Act to make conforming changes. Amends the Residential Real Property Disclosure Act to transfer authority over the predatory lending database from the Department of Financial and Professional Regulation to the Department of Insurance.
Actions
Date Chamber Action
4/10/2025 Senate Filed with Secretary by Sen. Bill Cunningham
4/10/2025 Senate First Reading
4/10/2025 Senate Referred to Assignments
4/29/2025 Senate Added as Co-Sponsor Sen. Paul Faraci