INS CD-INSOLVENCY House SponsorsRep. Frank J. Mautino-JoAnn D. Osmond-Monique D. Davis-David R. Leitch-Patricia R. Bellock Senate Sponsors(Sen. William R. Haine) 8/20/2010HousePublic Act . . . . . . . . . 96-1450 215 ILCS 5/187from Ch. 73, par. 799215 ILCS 5/206.1 new215 ILCS 5/209from Ch. 73, par. 821215 ILCS 5/531.03from Ch. 73, par. 1065.80-3215 ILCS 5/531.04from Ch. 73, par. 1065.80-4215 ILCS 5/531.05from Ch. 73, par. 1065.80-5215 ILCS 5/531.06from Ch. 73, par. 1065.80-6215 ILCS 5/531.07from Ch. 73, par. 1065.80-7215 ILCS 5/531.08from Ch. 73, par. 1065.80-8215 ILCS 5/531.09from Ch. 73, par. 1065.80-9215 ILCS 5/531.10from Ch. 73, par. 1065.80-10215 ILCS 5/531.11from Ch. 73, par. 1065.80-11215 ILCS 5/531.12from Ch. 73, par. 1065.80-12215 ILCS 5/531.14from Ch. 73, par. 1065.80-14215 ILCS 5/531.17from Ch. 73, par. 1065.80-17215 ILCS 5/531.18from Ch. 73, par. 1065.80-18215 ILCS 5/537.2from Ch. 73, par. 1065.87-2215 ILCS 5/545from Ch. 73, par. 1065.95215 ILCS 125/6-4from Ch. 111 1/2, par. 1418.4215 ILCS 125/6-5from Ch. 111 1/2, par. 1418.5215 ILCS 125/6-8from Ch. 111 1/2, par. 1418.8215 ILCS 125/6-9from Ch. 111 1/2, par. 1418.9215 ILCS 125/6-10from Ch. 111 1/2, par. 1418.10215 ILCS 125/6-17from Ch. 111 1/2, par. 1418.17215 ILCS 125/6-18from Ch. 111 1/2, par. 1418.18 Amends the Illinois Insurance Code. Sets forth definitions of "netting agreement" and "qualified financial contract". Sets forth the conditions under which no person shall be stayed or prohibited from exercising contractual rights concerning netting agreements and qualified financial contracts. Provides that upon termination of a netting agreement or qualified financial contract, the net or settlement amount owed by a nondefaulting party to an insurer against which an application or petition has been filed shall be transferred to or on the order of the receiver for the insurer. Sets forth provisions that shall apply concerning disaffirmance and repudiation. Sets forth requirements concerning proof and allowance of claims. Provides that the Article concerning life and health insurance guaranty associations in the Code shall provide coverage for certain policies and contracts (1) to certain persons who are owners or certificate holders, (2) for certain unallocated annuity contracts, and (3) for certain structured settlement annuities. Sets forth the conditions under which the provisions of the Article shall not apply. Makes changes in a provision concerning definitions. Provides that the life insurance and annuity account that the Illinois Life and Health Insurance Guaranty Association must maintain shall include an annuity account, which shall include annuity contracts owned by a governmental retirement plan and unallocated annuity account, which shall exclude contracts owned by a governmental retirement benefit plan. Makes changes in the provisions concerning the Association's board of directors, powers and duties, assessments, and operations. Amends the Health Maintenance Organization Act to make changes concerning the Association's powers, duties, operations, and immunity. Makes other changes. Effective immediately.Senate Floor Amendment No. 1 Deletes reference to:215 ILCS 5/531.17from Ch. 73, par. 1065.80-17215 ILCS 125/6-17from Ch. 111 1/2, par. 1418.17Amends the Illinois Insurance Code to restore current law concerning immunity with respect to the Illinois Life and Health Insurance Guaranty Association and member insurers. Amends the Health Maintenance Organization Act to restore current law concerning immunity with respect to the Illinois Health Maintenance Organization Guaranty Association and member organizations.Senate Floor Amendment No. 2 In the provision concerning the Life and Health Insurance Guaranty Association board of directors, provides that 2 persons who must be public representatives may (instead of shall) be appointed by the Director of Insurance. 2/3/2010HouseFiled with the Clerk by Rep. Frank J. Mautino 2/3/2010HouseAdded Chief Co-Sponsor Rep. JoAnn D. Osmond 2/3/2010HouseFirst Reading 2/3/2010HouseReferred to Rules Committee 3/8/2010HouseAssigned to Insurance Committee 3/9/2010HouseAdded Chief Co-Sponsor Rep. Monique D. Davis 3/9/2010HouseMoved to Suspend Rule 25 Rep. Barbara Flynn Currie 3/9/2010HouseSuspend Rule 25 - Prevailed 3/9/2010HouseDo Pass / Short Debate Insurance Committee; 022-000-000 3/9/2010HousePlaced on Calendar 2nd Reading - Short Debate 3/10/2010HouseSecond Reading - Short Debate 3/10/2010HousePlaced on Calendar Order of 3rd Reading - Short Debate 3/11/2010HouseAdded Chief Co-Sponsor Rep. David R. Leitch 3/12/2010HouseThird Reading - Short Debate - Passed 109-000-001 3/12/2010HouseAdded Chief Co-Sponsor Rep. Patricia R. Bellock 3/12/2010SenateArrive in Senate 3/12/2010SenatePlaced on Calendar Order of First Reading March 15, 2010 3/15/2010SenateChief Senate Sponsor Sen. William R. Haine 3/15/2010SenateFirst Reading 3/15/2010SenateReferred to Assignments 4/6/2010SenateAssigned to Insurance 4/15/2010SenatePostponed - Insurance 4/21/2010SenateDo Pass Insurance; 010-000-000 4/21/2010SenatePlaced on Calendar Order of 2nd Reading April 22, 2010 4/21/2010SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. William R. Haine 4/21/2010SenateSenate Floor Amendment No. 1 Referred to Assignments 4/22/2010SenateSenate Floor Amendment No. 1 Assignments Refers to Insurance 4/23/2010SenateSecond Reading 4/23/2010SenatePlaced on Calendar Order of 3rd Reading April 27, 2010 4/27/2010SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. William R. Haine 4/27/2010SenateSenate Floor Amendment No. 2 Referred to Assignments 4/28/2010SenateSenate Floor Amendment No. 2 Assignments Refers to Insurance 4/29/2010SenateSenate Floor Amendment No. 1 Recommend Do Adopt Insurance; 007-000-000 4/29/2010SenateSenate Floor Amendment No. 2 Recommend Do Adopt Insurance; 007-000-000 5/4/2010SenateRecalled to Second Reading 5/4/2010SenateSenate Floor Amendment No. 1 Adopted; Haine 5/4/2010SenateSenate Floor Amendment No. 2 Adopted; Haine 5/4/2010SenatePlaced on Calendar Order of 3rd Reading 5/4/2010SenateThird Reading - Passed; 058-000-001 5/4/2010HouseArrived in House 5/4/2010HousePlaced on Calendar Order of Concurrence Senate Amendment(s) 1, 2 5/4/2010HouseSenate Floor Amendment No. 1 Motion Filed Concur Rep. Frank J. Mautino; MOTION #1 5/4/2010HouseSenate Floor Amendment No. 2 Motion Filed Concur Rep. Frank J. Mautino; MOTION #2 5/4/2010HouseSenate Floor Amendment No. 1 Motion to Concur Referred to Rules Committee; MOTION #1 5/4/2010HouseSenate Floor Amendment No. 2 Motion to Concur Referred to Rules Committee; MOTION #2 5/6/2010HouseSenate Floor Amendment No. 1 Motion to Concur Rules Referred to Insurance Committee; MOTION #1 5/6/2010HouseSenate Floor Amendment No. 2 Motion to Concur Rules Referred to Insurance Committee; MOTION #2 5/7/2010HouseSenate Floor Amendment No. 1 Motion to Concur Recommends Be Adopted Insurance Committee; 016-000-000; MOTION #1 5/7/2010HouseSenate Floor Amendment No. 2 Motion to Concur Recommends Be Adopted Insurance Committee; 016-000-000; MOTION #2 5/26/2010HouseSenate Floor Amendment No. 1 House Concurs 112-000-000 5/26/2010HouseSenate Floor Amendment No. 2 House Concurs 112-000-000 5/26/2010HousePassed Both Houses 6/24/2010HouseSent to the Governor 8/20/2010HouseGovernor Approved 8/20/2010HouseEffective Date August 20, 2010 8/20/2010HousePublic Act . . . . . . . . . 96-1450