Illinois General Assembly - Bill Status for HB3102
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 Bill Status of HB3102  93rd General Assembly

Short Description:  FINANCIAL TRANSACT REVIEW ACT

House Sponsors
Rep. Sidney H. Mathias

Last Action
DateChamber Action
  4/1/2003HouseTabled By Sponsor Rep. Sidney H. Mathias

Statutes Amended In Order of Appearance
New Act


Synopsis As Introduced
Creates the Financial Transaction Review Act. Provides that financial service providers must inform clients in writing of the right to have an attorney review any transaction involving insurance or investment products with annual or initial payments in excess of $2,500. Sets forth the scope of the review. Requires disclosures regarding conflicts of interest. Provides for administration by the Department of Insurance.

House Committee Amendment No. 1
Adds long-term care insurance to the scope of the Act. Provides that notice of the right to an independent review and waiver of that right must be in writing.

Actions 
DateChamber Action
  2/26/2003HouseFiled with the Clerk by Rep. Sidney H. Mathias
  2/26/2003HouseFirst Reading
  2/26/2003HouseReferred to Rules Committee
  2/27/2003HouseAssigned to Consumer Protection Committee
  3/12/2003HouseHouse Committee Amendment No. 1 Filed with Clerk by Consumer Protection Committee
  3/12/2003HouseHouse Committee Amendment No. 1 Adopted in Consumer Protection Committee; by Voice Vote
  3/12/2003HouseDo Pass as Amended / Standard Debate Consumer Protection Committee; 006-003-000
  3/12/2003HousePlaced on Calendar 2nd Reading - Standard Debate
  3/25/2003HouseMotion Filed Rep. Sidney H. Mathias; Table House Bill 3102 Pursuant to Rule 60(b)
  4/1/2003HouseTabled By Sponsor Rep. Sidney H. Mathias

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