93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
SB2301

 

Introduced 1/28/2004, by Bill Brady

 

SYNOPSIS AS INTRODUCED:
 
215 ILCS 5/143.27   from Ch. 73, par. 755.27

    Amends the Illinois Insurance Code. Adds a caption to a Section concerning the time within which to make repairs to damaged property.


LRB093 19642 SAS 45383 b

 

 

A BILL FOR

 

SB2301 LRB093 19642 SAS 45383 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 143.27 as follows:
 
6     (215 ILCS 5/143.27)  (from Ch. 73, par. 755.27)
7     Sec. 143.27. Time for repairs; cancellation; nonrenewal.
8 No insurance company may give to any named insured any notice
9 of cancellation or nonrenewal of a policy of fire and extended
10 coverage insurance, as defined in subsection (b) of Section
11 143.13, covering property which is capable of being
12 rehabilitated, without allowing the named insured a reasonable
13 period of time in which to repair defects in the insured
14 property or relevant portion thereof, to an extent reasonably
15 sufficient to facilitate continued coverage thereon. The time
16 reasonably allowable therefor (which in no event shall exceed
17 ninety days) and the degree of sufficiency of such
18 rehabilitative efforts which insurance companies shall accept,
19 may be determined by a certificate from a licensed contractor
20 or architect and such rehabilitative efforts shall be in
21 compliance with local municipal building codes. The notice of
22 need for repair shall be from the insurance company, which may
23 be sent to the insured at any time during the policy term, and
24 which notice shall commence the time period established under
25 this Section.
26 (Source: P.A. 81-857.)