MORT INSURANCE-OVERINSURANCE Senate SponsorsSen. Bill Brady House Sponsors(Rep. Carole Pankau-Eddie Washington-Sandra M. Pihos-Karen A. Yarbrough-Renee Kosel) 8/24/2004SenatePublic Act . . . . . . . . . 93-1021 765 ILCS 930/17 newAmends the Mortgage Insurance Limitation and Notification Act. Prohibits a lender from requiring a borrower, as a condition of receiving or maintaining a loan secured by real property, to provide hazard insurance coverage against risks to the improvements on that real property in an amount exceeding the replacement value of the improvements on the real property. Requires the lender to disclose to the borrower, in writing, that the borrower is not required to have hazard insurance coverage against risks to the improvements on that real property in an amount exceeding the replacement value of the improvements on the real property. Effective immediately.House Amendment No. 1 Deletes everything after the enacting clause. Reinserts the text of the original bill, except removes the requirement that the lender's disclosure to the borrower be in writing. 2/6/2004SenateFiled with Secretary by Sen. Bill Brady 2/6/2004SenateFirst Reading 2/6/2004SenateReferred to Rules 2/18/2004SenateAssigned to Insurance & Pensions 2/24/2004SenateDo Pass Insurance & Pensions; 009-000-000 2/24/2004SenatePlaced on Calendar Order of 2nd Reading February 25, 2004 2/25/2004SenateSecond Reading 2/25/2004SenatePlaced on Calendar Order of 3rd Reading February 26, 2004 3/23/2004SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Bill Brady 3/23/2004SenateSenate Floor Amendment No. 1 Referred to Rules 3/26/2004SenateThird Reading - Passed; 056-000-000 3/26/2004SenateSenate Floor Amendment No. 1 Tabled Pursuant to Rule 5-4(a) 3/26/2004HouseArrived in House 3/26/2004HousePlaced on Calendar Order of First Reading 3/30/2004HouseChief House Sponsor Rep. Carole Pankau 3/30/2004HouseFirst Reading 3/30/2004HouseReferred to Rules Committee 5/11/2004HouseAssigned to Consumer Protection Committee 5/14/2004HouseCommittee/3rd Reading Deadline Extended-Rule 9(b) May 31, 2004 5/18/2004HouseHouse Amendment No. 1 Filed with Clerk by Consumer Protection Committee 5/18/2004HouseHouse Amendment No. 1 Adopted in Consumer Protection Committee; by Voice Vote 5/18/2004HouseDo Pass as Amended / Short Debate Consumer Protection Committee; 008-000-000 5/18/2004HousePlaced on Calendar 2nd Reading - Short Debate 5/18/2004HouseAdded Alternate Chief Co-Sponsor Rep. Eddie Washington 5/18/2004HouseAdded Alternate Chief Co-Sponsor Rep. Sandra M. Pihos 5/20/2004HouseSecond Reading - Short Debate 5/20/2004HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/26/2004HouseThird Reading - Short Debate - Passed 115-000-000 5/26/2004HouseAdded Alternate Chief Co-Sponsor Rep. Karen A. Yarbrough 5/26/2004HouseAdded Alternate Chief Co-Sponsor Rep. Renee Kosel 5/26/2004SenateSecretary's Desk - Concurrence House Amendment(s) 01 5/26/2004SenatePlaced on Calendar Order of Concurrence House Amendment(s) 01 - May 27, 2004. 5/28/2004SenateHouse Amendment No. 1 Motion to Concur Filed with Secretary Sen. Bill Brady 5/28/2004SenateHouse Amendment No. 1 Motion to Concur Referred to Rules 5/28/2004SenateHouse Amendment No. 1 Motion to Concur Rules Referred to Insurance & Pensions 5/29/2004SenateHouse Amendment No. 1 Motion to Concur Be Adopted Insurance & Pensions; 010-000-000 5/29/2004SenateHouse Amendment No. 1 Senate Concurs 046-000-000 5/29/2004SenatePassed Both Houses 6/25/2004SenateSent to the Governor 8/24/2004SenateGovernor Approved 8/24/2004SenateEffective Date August 24, 2004 8/24/2004SenatePublic Act . . . . . . . . . 93-1021