Illinois General Assembly - Full Text of SB2239

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Full Text of SB2239 93rd General Assembly

Introduced   Engrossed
House Amendment 001   House Amendment 002   House Amendment 003
House Amendment 004   House Amendment 005
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SB2239eng 93RD GENERAL ASSEMBLY

SB2239 Engrossed LRB093 15871 RCE 41488 b

1     AN ACT in relation to 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 41 as follows:

6     (215 ILCS 5/41)  (from Ch. 73, par. 653)
7     Sec. 41. Executive committee. If the by-laws so provide,
8 the board of directors or trustees, by a resolution adopted by
9 a majority of the whole board, may designate 3~~three~~ or more of
10 their number to constitute an executive committee, which
11 committee shall, to the extent provided in the resolution or in
12 the by-laws, have and exercise, during the interim between the
13 meetings of the board, all of the authority of the board in the
14 management of the company, but the designation of such
15 committee shall not relieve the board or any member thereof of
16 any responsibility imposed by law.
17 (Source: Laws 1937, p. 696.)

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