90th General Assembly
Summary of HB0375
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House Sponsors:

Short description: 
FINAN INST INSURANCE SALES LAW                                             

Synopsis of Bill as introduced:
        Amends the Illinois Banking Act, the Illinois  Savings  and  Loan      
   Act  of 1985, the Savings Bank Act, the Illinois Credit Union Act, the      
   Corporate Fiduciary Act, and the Illinois Insurance Code.   Authorizes      
   financial  institutions  to  act  as  agents  for insurance companies.      
   Establishes license requirements  for  insurance  sales.   Sets  forth      
   standards   of   conduct.    Provides  that  a  financial  institution      
   transacting an insurance business prior to the effective date of  this      
   amendatory  Act  has  180  days after that effective date to bring its      
   insurance operations into  compliance  with  the  provisions  of  this      
   amendatory Act.  Effective immediately.                                     
          FISCAL NOTE (Dept. of Insurance)                                     
          The Dept. does not anticipate any increased cost due to HB375.       
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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