93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB4471

 

Introduced 02/03/04, by Frank J. Mautino

 

SYNOPSIS AS INTRODUCED:
 
215 ILCS 5/143   from Ch. 73, par. 755
215 ILCS 5/408   from Ch. 73, par. 1020

    Amends the Illinois Insurance Code. In provisions regarding policy forms, requires the Department of Insurance to mail a quarterly invoice to insurance companies for the appropriate filing fees. Removes language indicating that fees charged for a policy filed as it will be issued regardless of the number of forms comprising that policy shall not exceed $500 or $1,000 for advisory or rating organizations. Effective immediately.


LRB093 16356 SAS 41994 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB4471 LRB093 16356 SAS 41994 b

1     AN ACT concerning insurance.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Illinois Insurance Code is amended by
5 changing Section 143 and 408 as follows:
 
6     (215 ILCS 5/143)  (from Ch. 73, par. 755)
7     Sec. 143. Policy forms.
8     (1) Life, accident and health. No company transacting the
9 kind or kinds of business enumerated in Classes 1 (a), 1 (b)
10 and 2 (a) of Section 4 shall issue or deliver in this State a
11 policy or certificate of insurance or evidence of coverage,
12 attach an endorsement or rider thereto, incorporate by
13 reference bylaws or other matter therein or use an application
14 blank in this State until the form and content of such policy,
15 certificate, evidence of coverage, endorsement, rider, bylaw
16 or other matter incorporated by reference or application blank
17 has been filed with and approved by the Director. The
18 Department shall mail a quarterly invoice to the company for
19 the appropriate filing fees required under Section 408. and the
20 appropriate filing fee under Section 408 has been paid, except
21 that Any such endorsement or rider that unilaterally reduces
22 benefits and is to be attached to a policy subsequent to the
23 date the policy is issued must be filed with, reviewed, and
24 formally approved by the Director prior to the date it is
25 attached to a policy issued or delivered in this State. It
26 shall be the duty of the Director to withhold approval of any
27 such policy, certificate, endorsement, rider, bylaw or other
28 matter incorporated by reference or application blank filed
29 with him if it contains provisions which encourage
30 misrepresentation or are unjust, unfair, inequitable,
31 ambiguous, misleading, inconsistent, deceptive, contrary to
32 law or to the public policy of this State, or contains

 

 

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1 exceptions and conditions that unreasonably or deceptively
2 affect the risk purported to be assumed in the general coverage
3 of the policy. In all cases the Director shall approve or
4 disapprove any such form within 60 days after submission unless
5 the Director extends by not more than an additional 30 days the
6 period within which he shall approve or disapprove any such
7 form by giving written notice to the insurer of such extension
8 before expiration of the initial 60 days period. The Director
9 shall withdraw his approval of a policy, certificate, evidence
10 of coverage, endorsement, rider, bylaw, or other matter
11 incorporated by reference or application blank if he
12 subsequently determines that such policy, certificate,
13 evidence of coverage, endorsement, rider, bylaw, other matter,
14 or application blank is misrepresentative, unjust, unfair,
15 inequitable, ambiguous, misleading, inconsistent, deceptive,
16 contrary to law or public policy of this State, or contains
17 exceptions or conditions which unreasonably or deceptively
18 affect the risk purported to be assumed in the general coverage
19 of the policy or evidence of coverage.
20     If a previously approved policy, certificate, evidence of
21 coverage, endorsement, rider, bylaw or other matter
22 incorporated by reference or application blank is withdrawn for
23 use, the Director shall serve upon the company an order of
24 withdrawal of use, either personally or by mail, and if by
25 mail, such service shall be completed if such notice be
26 deposited in the post office, postage prepaid, addressed to the
27 company's last known address specified in the records of the
28 Department of Insurance. The order of withdrawal of use shall
29 take effect 30 days from the date of mailing but shall be
30 stayed if within the 30-day period a written request for
31 hearing is filed with the Director. Such hearing shall be held
32 at such time and place as designated in the order given by the
33 Director. The hearing may be held either in the City of
34 Springfield, the City of Chicago or in the county where the
35 principal business address of the company is located. The
36 action of the Director in disapproving or withdrawing such form

 

 

HB4471 - 3 - LRB093 16356 SAS 41994 b

1 shall be subject to judicial review under the Administrative
2 Review Law.
3     This subsection shall not apply to riders or endorsements
4 issued or made at the request of the individual policyholder
5 relating to the manner of distribution of benefits or to the
6 reservation of rights and benefits under his life insurance
7 policy.
8     (2) Casualty, fire, and marine. The Director shall require
9 the filing of all policy forms issued or delivered by any
10 company transacting the kind or kinds of business enumerated in
11 Classes 2 (except Class 2 (a)) and 3 of Section 4. In addition,
12 he may require the filing of any generally used riders,
13 endorsements, certificates, application blanks, and other
14 matter incorporated by reference in any such policy or contract
15 of insurance. The Department shall mail a quarterly invoice to
16 the company for the appropriate filing fees required under
17 Section 408 along with the appropriate filing fee under Section
18 408. Companies that are members of an organization, bureau, or
19 association may have the same filed for them by the
20 organization, bureau, or association. If the Director shall
21 find from an examination of any such policy form, rider,
22 endorsement, certificate, application blank, or other matter
23 incorporated by reference in any such policy so filed that it
24 (i) violates any provision of this Code, (ii) contains
25 inconsistent, ambiguous, or misleading clauses, or (iii)
26 contains exceptions and conditions that will unreasonably or
27 deceptively affect the risks that are purported to be assumed
28 by the policy, he shall order the company or companies issuing
29 these forms to discontinue their use. Nothing in this
30 subsection shall require a company transacting the kind or
31 kinds of business enumerated in Classes 2 (except Class 2 (a))
32 and 3 of Section 4 to obtain approval of these forms before
33 they are issued nor in any way affect the legality of any
34 policy that has been issued and found to be in conflict with
35 this subsection, but such policies shall be subject to the
36 provisions of Section 442.

 

 

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1     (3) This Section shall not apply (i) to surety contracts or
2 fidelity bonds, (ii) to policies issued to an industrial
3 insured as defined in Section 121-2.08 except for workers'
4 compensation policies, nor (iii) to riders or endorsements
5 prepared to meet special, unusual, peculiar, or extraordinary
6 conditions applying to an individual risk.
7 (Source: P.A. 90-794, eff. 8-14-98.)
 
8     (215 ILCS 5/408)  (from Ch. 73, par. 1020)
9     Sec. 408. Fees and charges.
10     (1) The Director shall charge, collect and give proper
11 acquittances for the payment of the following fees and charges:
12         (a) For filing all documents submitted for the
13     incorporation or organization or certification of a
14     domestic company, except for a fraternal benefit society,
15     $2,000.
16         (b) For filing all documents submitted for the
17     incorporation or organization of a fraternal benefit
18     society, $500.
19         (c) For filing amendments to articles of incorporation
20     and amendments to declaration of organization, except for a
21     fraternal benefit society, a mutual benefit association, a
22     burial society or a farm mutual, $200.
23         (d) For filing amendments to articles of incorporation
24     of a fraternal benefit society, a mutual benefit
25     association or a burial society, $100.
26         (e) For filing amendments to articles of incorporation
27     of a farm mutual, $50.
28         (f) For filing bylaws or amendments thereto, $50.
29         (g) For filing agreement of merger or consolidation:
30             (i) for a domestic company, except for a fraternal
31         benefit society, a mutual benefit association, a
32         burial society, or a farm mutual, $2,000.
33             (ii) for a foreign or alien company, except for a
34         fraternal benefit society, $600.
35             (iii) for a fraternal benefit society, a mutual

 

 

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1         benefit association, a burial society, or a farm
2         mutual, $200.
3         (h) For filing agreements of reinsurance by a domestic
4     company, $200.
5         (i) For filing all documents submitted by a foreign or
6     alien company to be admitted to transact business or
7     accredited as a reinsurer in this State, except for a
8     fraternal benefit society, $5,000.
9         (j) For filing all documents submitted by a foreign or
10     alien fraternal benefit society to be admitted to transact
11     business in this State, $500.
12         (k) For filing declaration of withdrawal of a foreign
13     or alien company, $50.
14         (l) For filing annual statement, except a fraternal
15     benefit society, a mutual benefit association, a burial
16     society, or a farm mutual, $200.
17         (m) For filing annual statement by a fraternal benefit
18     society, $100.
19         (n) For filing annual statement by a farm mutual, a
20     mutual benefit association, or a burial society, $50.
21         (o) For issuing a certificate of authority or renewal
22     thereof except to a fraternal benefit society, $200.
23         (p) For issuing a certificate of authority or renewal
24     thereof to a fraternal benefit society, $100.
25         (q) For issuing an amended certificate of authority,
26     $50.
27         (r) For each certified copy of certificate of
28     authority, $20.
29         (s) For each certificate of deposit, or valuation, or
30     compliance or surety certificate, $20.
31         (t) For copies of papers or records per page, $1.
32         (u) For each certification to copies of papers or
33     records, $10.
34         (v) For multiple copies of documents or certificates
35     listed in subparagraphs (r), (s), and (u) of paragraph (1)
36     of this Section, $10 for the first copy of a certificate of

 

 

HB4471 - 6 - LRB093 16356 SAS 41994 b

1     any type and $5 for each additional copy of the same
2     certificate requested at the same time, unless, pursuant to
3     paragraph (2) of this Section, the Director finds these
4     additional fees excessive.
5         (w) For issuing a permit to sell shares or increase
6     paid-up capital:
7             (i) in connection with a public stock offering,
8         $300;
9             (ii) in any other case, $100.
10         (x) For issuing any other certificate required or
11     permissible under the law, $50.
12         (y) For filing a plan of exchange of the stock of a
13     domestic stock insurance company, a plan of
14     demutualization of a domestic mutual company, or a plan of
15     reorganization under Article XII, $2,000.
16         (z) For filing a statement of acquisition of a domestic
17     company as defined in Section 131.4 of this Code, $2,000.
18         (aa) For filing an agreement to purchase the business
19     of an organization authorized under the Dental Service Plan
20     Act or the Voluntary Health Services Plans Act or of a
21     health maintenance organization or a limited health
22     service organization, $2,000.
23         (bb) For filing a statement of acquisition of a foreign
24     or alien insurance company as defined in Section 131.12a of
25     this Code, $1,000.
26         (cc) For filing a registration statement as required in
27     Sections 131.13 and 131.14, the notification as required by
28     Sections 131.16, 131.20a, or 141.4, or an agreement or
29     transaction required by Sections 124.2(2), 141, 141a, or
30     141.1, $200.
31         (dd) For filing an application for licensing of:
32             (i) a religious or charitable risk pooling trust or
33         a workers' compensation pool, $1,000;
34             (ii) a workers' compensation service company,
35         $500;
36             (iii) a self-insured automobile fleet, $200; or

 

 

HB4471 - 7 - LRB093 16356 SAS 41994 b

1             (iv) a renewal of or amendment of any license
2         issued pursuant to (i), (ii), or (iii) above, $100.
3         (ee) For filing articles of incorporation for a
4     syndicate to engage in the business of insurance through
5     the Illinois Insurance Exchange, $2,000.
6         (ff) For filing amended articles of incorporation for a
7     syndicate engaged in the business of insurance through the
8     Illinois Insurance Exchange, $100.
9         (gg) For filing articles of incorporation for a limited
10     syndicate to join with other subscribers or limited
11     syndicates to do business through the Illinois Insurance
12     Exchange, $1,000.
13         (hh) For filing amended articles of incorporation for a
14     limited syndicate to do business through the Illinois
15     Insurance Exchange, $100.
16         (ii) For a permit to solicit subscriptions to a
17     syndicate or limited syndicate, $100.
18         (jj) For the filing of each form as required in Section
19     143 of this Code, $50 per form. The fee for advisory and
20     rating organizations shall be $200 per form.
21             (i) For the purposes of the form filing fee,
22         filings made on insert page basis will be considered
23         one form at the time of its original submission.
24         Changes made to a form subsequent to its approval shall
25         be considered a new filing.
26             (ii) Only one fee shall be charged for a form,
27         regardless of the number of other forms or policies
28         with which it will be used.
29             (iii) (Blank). Fees charged for a policy filed as
30         it will be issued regardless of the number of forms
31         comprising that policy shall not exceed $1,000 or
32         $2,000 for advisory or rating organizations.
33             (iv) The Director may by rule exempt forms from
34         such fees.
35         (kk) For filing an application for licensing of a
36     reinsurance intermediary, $500.

 

 

HB4471 - 8 - LRB093 16356 SAS 41994 b

1         (ll) For filing an application for renewal of a license
2     of a reinsurance intermediary, $200.
3     (2) When printed copies or numerous copies of the same
4 paper or records are furnished or certified, the Director may
5 reduce such fees for copies if he finds them excessive. He may,
6 when he considers it in the public interest, furnish without
7 charge to state insurance departments and persons other than
8 companies, copies or certified copies of reports of
9 examinations and of other papers and records.
10     (3) The expenses incurred in any performance examination
11 authorized by law shall be paid by the company or person being
12 examined. The charge shall be reasonably related to the cost of
13 the examination including but not limited to compensation of
14 examiners, electronic data processing costs, supervision and
15 preparation of an examination report and lodging and travel
16 expenses. All lodging and travel expenses shall be in accord
17 with the applicable travel regulations as published by the
18 Department of Central Management Services and approved by the
19 Governor's Travel Control Board, except that out-of-state
20 lodging and travel expenses related to examinations authorized
21 under Section 132 shall be in accordance with travel rates
22 prescribed under paragraph 301-7.2 of the Federal Travel
23 Regulations, 41 C.F.R. 301-7.2, for reimbursement of
24 subsistence expenses incurred during official travel. All
25 lodging and travel expenses may be reimbursed directly upon
26 authorization of the Director. With the exception of the direct
27 reimbursements authorized by the Director, all performance
28 examination charges collected by the Department shall be paid
29 to the Insurance Producers Administration Fund, however, the
30 electronic data processing costs incurred by the Department in
31 the performance of any examination shall be billed directly to
32 the company being examined for payment to the Statistical
33 Services Revolving Fund.
34     (4) At the time of any service of process on the Director
35 as attorney for such service, the Director shall charge and
36 collect the sum of $20, which may be recovered as taxable costs

 

 

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1 by the party to the suit or action causing such service to be
2 made if he prevails in such suit or action.
3     (5) (a) The costs incurred by the Department of Insurance
4 in conducting any hearing authorized by law shall be assessed
5 against the parties to the hearing in such proportion as the
6 Director of Insurance may determine upon consideration of all
7 relevant circumstances including: (1) the nature of the
8 hearing; (2) whether the hearing was instigated by, or for the
9 benefit of a particular party or parties; (3) whether there is
10 a successful party on the merits of the proceeding; and (4) the
11 relative levels of participation by the parties.
12     (b) For purposes of this subsection (5) costs incurred
13 shall mean the hearing officer fees, court reporter fees, and
14 travel expenses of Department of Insurance officers and
15 employees; provided however, that costs incurred shall not
16 include hearing officer fees or court reporter fees unless the
17 Department has retained the services of independent
18 contractors or outside experts to perform such functions.
19     (c) The Director shall make the assessment of costs
20 incurred as part of the final order or decision arising out of
21 the proceeding; provided, however, that such order or decision
22 shall include findings and conclusions in support of the
23 assessment of costs. This subsection (5) shall not be construed
24 as permitting the payment of travel expenses unless calculated
25 in accordance with the applicable travel regulations of the
26 Department of Central Management Services, as approved by the
27 Governor's Travel Control Board. The Director as part of such
28 order or decision shall require all assessments for hearing
29 officer fees and court reporter fees, if any, to be paid
30 directly to the hearing officer or court reporter by the
31 party(s) assessed for such costs. The assessments for travel
32 expenses of Department officers and employees shall be
33 reimbursable to the Director of Insurance for deposit to the
34 fund out of which those expenses had been paid.
35     (d) The provisions of this subsection (5) shall apply in
36 the case of any hearing conducted by the Director of Insurance

 

 

HB4471 - 10 - LRB093 16356 SAS 41994 b

1 not otherwise specifically provided for by law.
2     (6) The Director shall charge and collect an annual
3 financial regulation fee from every domestic company for
4 examination and analysis of its financial condition and to fund
5 the internal costs and expenses of the Interstate Insurance
6 Receivership Commission as may be allocated to the State of
7 Illinois and companies doing an insurance business in this
8 State pursuant to Article X of the Interstate Insurance
9 Receivership Compact. The fee shall be the greater fixed amount
10 based upon the combination of nationwide direct premium income
11 and nationwide reinsurance assumed premium income or upon
12 admitted assets calculated under this subsection as follows:
13         (a) Combination of nationwide direct premium income
14     and nationwide reinsurance assumed premium.
15             (i) $150, if the premium is less than $500,000 and
16         there is no reinsurance assumed premium;
17             (ii) $750, if the premium is $500,000 or more, but
18         less than $5,000,000 and there is no reinsurance
19         assumed premium; or if the premium is less than
20         $5,000,000 and the reinsurance assumed premium is less
21         than $10,000,000;
22             (iii) $3,750, if the premium is less than
23         $5,000,000 and the reinsurance assumed premium is
24         $10,000,000 or more;
25             (iv) $7,500, if the premium is $5,000,000 or more,
26         but less than $10,000,000;
27             (v) $18,000, if the premium is $10,000,000 or more,
28         but less than $25,000,000;
29             (vi) $22,500, if the premium is $25,000,000 or
30         more, but less than $50,000,000;
31             (vii) $30,000, if the premium is $50,000,000 or
32         more, but less than $100,000,000;
33             (viii) $37,500, if the premium is $100,000,000 or
34         more.
35         (b) Admitted assets.
36             (i) $150, if admitted assets are less than

 

 

HB4471 - 11 - LRB093 16356 SAS 41994 b

1         $1,000,000;
2             (ii) $750, if admitted assets are $1,000,000 or
3         more, but less than $5,000,000;
4             (iii) $3,750, if admitted assets are $5,000,000 or
5         more, but less than $25,000,000;
6             (iv) $7,500, if admitted assets are $25,000,000 or
7         more, but less than $50,000,000;
8             (v) $18,000, if admitted assets are $50,000,000 or
9         more, but less than $100,000,000;
10             (vi) $22,500, if admitted assets are $100,000,000
11         or more, but less than $500,000,000;
12             (vii) $30,000, if admitted assets are $500,000,000
13         or more, but less than $1,000,000,000;
14             (viii) $37,500, if admitted assets are
15         $1,000,000,000 or more.
16         (c) The sum of financial regulation fees charged to the
17     domestic companies of the same affiliated group shall not
18     exceed $250,000 in the aggregate in any single year and
19     shall be billed by the Director to the member company
20     designated by the group.
21     (7) The Director shall charge and collect an annual
22 financial regulation fee from every foreign or alien company,
23 except fraternal benefit societies, for the examination and
24 analysis of its financial condition and to fund the internal
25 costs and expenses of the Interstate Insurance Receivership
26 Commission as may be allocated to the State of Illinois and
27 companies doing an insurance business in this State pursuant to
28 Article X of the Interstate Insurance Receivership Compact. The
29 fee shall be a fixed amount based upon Illinois direct premium
30 income and nationwide reinsurance assumed premium income in
31 accordance with the following schedule:
32         (a) $150, if the premium is less than $500,000 and
33     there is no reinsurance assumed premium;
34         (b) $750, if the premium is $500,000 or more, but less
35     than $5,000,000 and there is no reinsurance assumed
36     premium; or if the premium is less than $5,000,000 and the

 

 

HB4471 - 12 - LRB093 16356 SAS 41994 b

1     reinsurance assumed premium is less than $10,000,000;
2         (c) $3,750, if the premium is less than $5,000,000 and
3     the reinsurance assumed premium is $10,000,000 or more;
4         (d) $7,500, if the premium is $5,000,000 or more, but
5     less than $10,000,000;
6         (e) $18,000, if the premium is $10,000,000 or more, but
7     less than $25,000,000;
8         (f) $22,500, if the premium is $25,000,000 or more, but
9     less than $50,000,000;
10         (g) $30,000, if the premium is $50,000,000 or more, but
11     less than $100,000,000;
12         (h) $37,500, if the premium is $100,000,000 or more.
13     The sum of financial regulation fees under this subsection
14 (7) charged to the foreign or alien companies within the same
15 affiliated group shall not exceed $250,000 in the aggregate in
16 any single year and shall be billed by the Director to the
17 member company designated by the group.
18     (8) Beginning January 1, 1992, the financial regulation
19 fees imposed under subsections (6) and (7) of this Section
20 shall be paid by each company or domestic affiliated group
21 annually. After January 1, 1994, the fee shall be billed by
22 Department invoice based upon the company's premium income or
23 admitted assets as shown in its annual statement for the
24 preceding calendar year. The invoice is due upon receipt and
25 must be paid no later than June 30 of each calendar year. All
26 financial regulation fees collected by the Department shall be
27 paid to the Insurance Financial Regulation Fund. The Department
28 may not collect financial examiner per diem charges from
29 companies subject to subsections (6) and (7) of this Section
30 undergoing financial examination after June 30, 1992.
31     (9) In addition to the financial regulation fee required by
32 this Section, a company undergoing any financial examination
33 authorized by law shall pay the following costs and expenses
34 incurred by the Department: electronic data processing costs,
35 the expenses authorized under Section 131.21 and subsection (d)
36 of Section 132.4 of this Code, and lodging and travel expenses.

 

 

HB4471 - 13 - LRB093 16356 SAS 41994 b

1     Electronic data processing costs incurred by the
2 Department in the performance of any examination shall be
3 billed directly to the company undergoing examination for
4 payment to the Statistical Services Revolving Fund. Except for
5 direct reimbursements authorized by the Director or direct
6 payments made under Section 131.21 or subsection (d) of Section
7 132.4 of this Code, all financial regulation fees and all
8 financial examination charges collected by the Department
9 shall be paid to the Insurance Financial Regulation Fund.
10     All lodging and travel expenses shall be in accordance with
11 applicable travel regulations published by the Department of
12 Central Management Services and approved by the Governor's
13 Travel Control Board, except that out-of-state lodging and
14 travel expenses related to examinations authorized under
15 Sections 132.1 through 132.7 shall be in accordance with travel
16 rates prescribed under paragraph 301-7.2 of the Federal Travel
17 Regulations, 41 C.F.R. 301-7.2, for reimbursement of
18 subsistence expenses incurred during official travel. All
19 lodging and travel expenses may be reimbursed directly upon the
20 authorization of the Director.
21     In the case of an organization or person not subject to the
22 financial regulation fee, the expenses incurred in any
23 financial examination authorized by law shall be paid by the
24 organization or person being examined. The charge shall be
25 reasonably related to the cost of the examination including,
26 but not limited to, compensation of examiners and other costs
27 described in this subsection.
28     (10) Any company, person, or entity failing to make any
29 payment of $150 or more as required under this Section shall be
30 subject to the penalty and interest provisions provided for in
31 subsections (4) and (7) of Section 412.
32     (11) Unless otherwise specified, all of the fees collected
33 under this Section shall be paid into the Insurance Financial
34 Regulation Fund.
35     (12) For purposes of this Section:
36         (a) "Domestic company" means a company as defined in

 

 

HB4471 - 14 - LRB093 16356 SAS 41994 b

1     Section 2 of this Code which is incorporated or organized
2     under the laws of this State, and in addition includes a
3     not-for-profit corporation authorized under the Dental
4     Service Plan Act or the Voluntary Health Services Plans
5     Act, a health maintenance organization, and a limited
6     health service organization.
7         (b) "Foreign company" means a company as defined in
8     Section 2 of this Code which is incorporated or organized
9     under the laws of any state of the United States other than
10     this State and in addition includes a health maintenance
11     organization and a limited health service organization
12     which is incorporated or organized under the laws of any
13     state of the United States other than this State.
14         (c) "Alien company" means a company as defined in
15     Section 2 of this Code which is incorporated or organized
16     under the laws of any country other than the United States.
17         (d) "Fraternal benefit society" means a corporation,
18     society, order, lodge or voluntary association as defined
19     in Section 282.1 of this Code.
20         (e) "Mutual benefit association" means a company,
21     association or corporation authorized by the Director to do
22     business in this State under the provisions of Article
23     XVIII of this Code.
24         (f) "Burial society" means a person, firm,
25     corporation, society or association of individuals
26     authorized by the Director to do business in this State
27     under the provisions of Article XIX of this Code.
28         (g) "Farm mutual" means a district, county and township
29     mutual insurance company authorized by the Director to do
30     business in this State under the provisions of the Farm
31     Mutual Insurance Company Act of 1986.
32 (Source: P.A. 93-32, eff. 7-1-03.)
 
33     Section 99. Effective date. This Act takes effect upon
34 becoming law.