Bill Status of SB0375  102nd General Assembly

Short Description:  INSURANCE GUARANTY FUND

Senate Sponsors
Sen. Napoleon Harris, III and Terri Bryant

Last Action
DateChamber Action
  1/10/2023SenateSession Sine Die

Statutes Amended In Order of Appearance
215 ILCS 5/532from Ch. 73, par. 1065.82
215 ILCS 5/537.9from Ch. 73, par. 1065.87-9
215 ILCS 5/538from Ch. 73, par. 1065.88
215 ILCS 5/538.2from Ch. 73, par. 1065.88-2
215 ILCS 5/538.7from Ch. 73, par. 1065.88-7
215 ILCS 5/538.10 new


Synopsis As Introduced
Amends the Illinois Insurance Code. Authorizes the Illinois Insurance Guaranty Fund, at the direction of its board of directors and subject to the approval of the Director of Insurance, to form and own a not-for-profit corporation to which the Fund may delegate certain of its powers and duties provided by the Code. Allows the not-for-profit corporation to contract to provide services to the Office of Special Deputy Receiver or any other person or organization authorized by law to carry out the duties of the Director in the capacity of receiver under specified provisions of the Code, the Illinois Life and Health Insurance Guaranty Association, an organizations in another state similar to the Illinois Insurance Guaranty Fund or the Illinois Life and Health Insurance Guaranty Association. Effective immediately.

Actions 
DateChamber Action
  2/19/2021SenateFiled with Secretary by Sen. Napoleon Harris, III
  2/19/2021SenateFirst Reading
  2/19/2021SenateReferred to Assignments
  4/7/2021SenateAssigned to Insurance
  4/16/2021SenateRule 3-9(a) / Re-referred to Assignments
  5/19/2021SenateAdded as Co-Sponsor Sen. Terri Bryant
  1/10/2023SenateSession Sine Die