101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
SB2423

 

Introduced 1/15/2020___________, by

 

SYNOPSIS AS INTRODUCED:
 
215 ILCS 5/143.15  from Ch. 73, par. 755.15

    Amends the Illinois Insurance Code. Makes a technical change in a Section concerning notices of cancellation.


LRB101 15782 BMS 65137 b

 

 

A BILL FOR

 

SB2423LRB101 15782 BMS 65137 b

1    AN ACT concerning regulation.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Insurance Code is amended by
5changing Section 143.15 as follows:
 
6    (215 ILCS 5/143.15)  (from Ch. 73, par. 755.15)
7    Sec. 143.15. Mailing of cancellation notice. All notices of
8cancellation of insurance as defined in subsections (a), (b)
9and and (c) of Section 143.13 must be mailed at least 30 days
10prior to the effective date of cancellation to the named
11insured; however, if cancellation is for nonpayment of premium,
12the notice of cancellation must be mailed at least 10 days
13before the effective date of the cancellation to the last
14mailing address known to the company. All notices of
15cancellation to the named insured shall include a specific
16explanation of the reason or reasons for cancellation. For
17purposes of this Section, the mortgagee or lien holder, if
18known, may opt to accept notification electronically.
19(Source: P.A. 100-475, eff. 1-1-18.)