Illinois General Assembly - Bill Status for HB5928

Amends the Illinois Insurance Code Article concerning Rehabilitation, Liquidation, Conservation, and Dissolution of Companies. Creates a new Section pertaining to policyholder collateral, deductible reimbursements, and other policyholder obligations. Adds provisions concerning: any collateral held by, for the benefit of, or assigned to the insurer or the Director of Insurance as rehabilitator, liquidator, or conservator to secure obligations under a deductible agreement with a policyholder; non-covered claims; amounts that become assets of an estate; an insurer that has contractually agreed to allow the policyholder to fund its own claims within the deductible amount pursuant to a deductible agreement; and an insurer that has not contractually agreed to allow the policyholder to fund its own claims within the deductible amount pursuant to a deductible agreement. Defines the Director's duties and powers as rehabilitator, liquidator, or conservator. Provides that the Illinois Circuit Court having jurisdiction over the liquidation proceedings shall have jurisdiction to resolve disputes. Applies to delinquency proceedings pending on the effective date of this amendatory Act. Makes other changes.

Deletes everything. Amends the Illinois Insurance Code. Makes technical changes in a Section concerning the short title.

Replaces everything after the enacting clause. Amends the Illinois Insurance Code Article concerning Rehabilitation, Liquidation, Conservation, and Dissolution of Companies. Creates a new Section pertaining to policyholder collateral, deductible reimbursements, and other policyholder obligations. Adds provisions concerning: any collateral held by, for the benefit of, or assigned to the insurer or the Director of Insurance as rehabilitator, liquidator, or conservator to secure obligations under a deductible agreement with a policyholder; non-covered claims; amounts that become assets of an estate; an insurer that has contractually agreed to allow the policyholder to fund its own claims within the deductible amount pursuant to a deductible agreement; and an insurer that has not contractually agreed to allow the policyholder to fund its own claims within the deductible amount pursuant to a deductible agreement. Defines the Director's duties and powers as rehabilitator, liquidator, or conservator. Provides that the Illinois Circuit Court having jurisdiction over the liquidation proceedings shall have jurisdiction to resolve disputes. Applies to specified receivership proceedings. Makes other changes. Effective immediately.

Removes any reference to conservators from the provisions. Provides that the provisions apply to rehabilitation proceedings only to the extent that guaranty associations are required to pay claims and do not apply to receivership proceedings in which an order of conservation has been entered.

Date	Chamber	Action
8/25/2004	House	Public Act . . . . . . . . . 93-1028

Date	Chamber	Action
2/6/2004	House	Filed with the Clerk by Rep. Frank J. Mautino
2/6/2004	House	First Reading
2/6/2004	House	Referred to Rules Committee
3/2/2004	House	Assigned to Insurance Committee
3/2/2004	House	Chief Sponsor Changed to Rep. JoAnn D. Osmond
3/2/2004	House	Motion to Suspend Rule 25 - Prevailed by Voice Vote
3/3/2004	House	Do Pass / Short Debate Insurance Committee; 014-000-000
3/3/2004	House	Placed on Calendar 2nd Reading - Short Debate
3/23/2004	House	Added Chief Co-Sponsor Rep. Frank J. Mautino
3/23/2004	House	Added Chief Co-Sponsor Rep. Terry R. Parke
3/23/2004	House	Added Chief Co-Sponsor Rep. Ruth Munson
3/23/2004	House	Added Chief Co-Sponsor Rep. Mark H. Beaubien, Jr.
3/23/2004	House	Added Co-Sponsor Rep. Patricia R. Bellock
3/23/2004	House	Added Co-Sponsor Rep. Sandra M. Pihos
3/23/2004	House	Added Co-Sponsor Rep. Suzanne Bassi
3/23/2004	House	Added Co-Sponsor Rep. Dan Brady
3/23/2004	House	Added Co-Sponsor Rep. Robert W. Churchill
3/23/2004	House	Added Co-Sponsor Rep. Kathleen A. Ryg
3/23/2004	House	Added Co-Sponsor Rep. Ed Sullivan, Jr.
3/23/2004	House	Added Co-Sponsor Rep. Renee Kosel
3/23/2004	House	Added Co-Sponsor Rep. Karen A. Yarbrough
3/23/2004	House	Added Co-Sponsor Rep. Eileen Lyons
3/23/2004	House	Added Co-Sponsor Rep. Patricia Bailey
3/23/2004	House	Added Co-Sponsor Rep. John J. Millner
3/23/2004	House	Added Co-Sponsor Rep. Robert W. Pritchard
3/23/2004	House	Added Co-Sponsor Rep. Jim Watson
3/30/2004	House	House Floor Amendment No. 1 Filed with Clerk by Rep. JoAnn D. Osmond
3/30/2004	House	House Floor Amendment No. 1 Referred to Rules Committee
3/31/2004	House	House Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 004-000-000
3/31/2004	House	Second Reading - Short Debate
3/31/2004	House	House Floor Amendment No. 1 Adopted by Voice Vote
3/31/2004	House	Placed on Calendar Order of 3rd Reading - Short Debate
4/1/2004	House	Third Reading - Short Debate - Passed 095-022-000
4/6/2004	Senate	Arrive in Senate
4/6/2004	Senate	Placed on Calendar Order of First Reading April 20, 2004
4/6/2004	Senate	Chief Senate Sponsor Sen. William E. Peterson
4/6/2004	Senate	First Reading
4/6/2004	Senate	Referred to Rules
4/15/2004	Senate	Assigned to Insurance & Pensions
4/16/2004	Senate	Added as Alternate Chief Co-Sponsor Sen. Denny Jacobs
4/19/2004	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. William E. Peterson; -Jacobs
4/19/2004	Senate	Senate Committee Amendment No. 1 Referred to Rules
4/21/2004	Senate	Senate Committee Amendment No. 1 Rules Refers to Insurance & Pensions
4/21/2004	Senate	Senate Committee Amendment No. 1 Adopted
4/21/2004	Senate	Do Pass as Amended Insurance & Pensions; 010-000-000
4/21/2004	Senate	Placed on Calendar Order of 2nd Reading April 22, 2004
4/22/2004	Senate	Second Reading
4/22/2004	Senate	Placed on Calendar Order of 3rd Reading April 27, 2004
4/30/2004	Senate	Senate Floor Amendment No. 2 Filed with Secretary by Sen. William E. Peterson
4/30/2004	Senate	Senate Floor Amendment No. 2 Referred to Rules
5/4/2004	Senate	Senate Floor Amendment No. 2 Rules Refers to Insurance & Pensions
5/5/2004	Senate	Senate Floor Amendment No. 2 Be Approved for Consideration Insurance & Pensions; 009-000-001
5/11/2004	Senate	Recalled to Second Reading
5/11/2004	Senate	Senate Floor Amendment No. 2 Adopted; Peterson
5/11/2004	Senate	Placed on Calendar Order of 3rd Reading May 12, 2004
5/13/2004	Senate	Third Reading Deadline Extended - Rule 2-10, extended to January 11, 2005.
5/17/2004	Senate	Third Reading - Passed; 055-000-000
5/18/2004	House	Arrived in House
5/18/2004	House	Placed on Calendar Order of Concurrence Senate Amendment(s) 1,2
5/18/2004	House	Senate Committee Amendment No. 1 Motion Filed Concur Rep. JoAnn D. Osmond
5/18/2004	House	Senate Floor Amendment No. 2 Motion Filed Concur Rep. JoAnn D. Osmond
5/18/2004	House	Senate Committee Amendment No. 1 Motion to Concur Referred to Rules Committee
5/18/2004	House	Senate Floor Amendment No. 2 Motion to Concur Referred to Rules Committee
5/30/2004	House	Senate Committee Amendment No. 1 Motion to Concur Rules Referred to Insurance Committee
5/30/2004	House	Senate Floor Amendment No. 2 Motion to Concur Rules Referred to Insurance Committee
5/31/2004	House	Senate Committee Amendment No. 1 Motion to Concur Recommends be Adopted Insurance Committee; 010-000-000
5/31/2004	House	Senate Floor Amendment No. 2 Motion to Concur Recommends be Adopted Insurance Committee; 010-000-000
5/31/2004	House	Senate Committee Amendment No. 1 House Concurs 117-000-000
5/31/2004	House	Senate Floor Amendment No. 2 House Concurs 117-000-000
5/31/2004	House	Passed Both Houses
6/28/2004	House	Sent to the Governor
8/25/2004	House	Governor Approved
8/25/2004	House	Effective Date August 25, 2004
8/25/2004	House	Public Act . . . . . . . . . 93-1028

	Deletes reference to:
	215 ILCS 5/205.1 new

	Adds reference to:
	215 ILCS 5/1	from Ch. 73, par. 613

	Deletes reference to:
	215 ILCS 5/1

	Adds reference to:
	215 ILCS 5/205.1 new