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<xml>
<title>Illinois General Assembly - Bill Status for HB 1553         </title>
<shortdesc>INS CD-DOMESTIC CEDING INSURER</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Maria Antonia Berrios-Edward J. Acevedo and JoAnn D. Osmond</sponsors>
</sponsor>
<lastaction>
<statusdate>12/3/2014</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>215 ILCS 5/173.1</reference><aliasreference>from Ch. 73, par. 785.1</aliasreference><SynopsisText>     Amends the Illinois Insurance Code in the provision concerning credit that is allowed a domestic ceding insurer. Includes additional provisions under which credit shall be allowed when the reinsurance is ceded to an assuming insurer domiciled in certain categories of states. Includes additional requirements to apply to certain categories of assuming insurers. Makes changes to the provision concerning the inception, amendment, and renewal dates of reinsurance agreements. Includes additional provisions under which credit shall be allowed when the reinsurance is ceded to an assuming insurer certified in the State. Sets forth provisions concerning the suspension and revocation of a reinsurer's accreditation or certification, the concentration of risk, and applicability to reinsurance agreements. Makes other changes.</SynopsisText></synopsis>
<actions>
<statusdate>2/13/2013</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Maria Antonia Berrios</action>
<statusdate>2/13/2013</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>2/13/2013</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>2/28/2013</statusdate><chamber>House</chamber><action>Added Co-Sponsor Rep. JoAnn D. Osmond</action>
<statusdate>5/15/2013</statusdate><chamber>House</chamber><action>Added Chief Co-Sponsor Rep. Edward J. Acevedo</action>
<statusdate>12/3/2014</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

