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Synopsis As Introduced Amends the Illinois Insurance Code. Provides that the Illinois Mine Subsidence Insurance Fund may coordinate with the Illinois State Geological Survey (ISGS) to integrate mine subsidence claim information with corresponding maps on the ISGS website. Provides that neither the Fund nor ISGS shall be liable for the disclosure of any claim information on the ISGS website.
Deletes everything after the enacting clause. Amends the Counties Code to provide that every recorder must accept notice of a payment of a claim for mine subsidence insurance and file this information in a way that allows it to be accessed in a title search of the property. Amends the Illinois Insurance Code. Provides that when an insurer pays a claim to an insured for mine subsidence, the insurer must file notice of that claim with the recorder of the county where the insured's property is located. Provides that the notice document shall be subject to the fees and real estate document recording standards contained in the Counties Code.
Senate Committee Amendment No. 1 Provides that every recorder must record (instead of file) information received concerning payment of a claim for mine subsidence insurance and that the insurer must record (instead of file) notice of the claim with the recorder of the county where the insured's property is located. Provides that the notice document shall include a legal description of the property and the property owner's name.
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