PARKE AND OSMOND.
INS RISK-RETENTION LAW CHOICE
Synopsis of Bill as introduced:
Amends the Illinois Insurance Code. Provides that a risk
retention group organized in a state other than Illinois that selects
Illinois law to govern its policies may provide coverage for punitive
damages and the multiplied portion of multiple damages if those
coverages are permitted by the law of the state where the risk
retention group is organized. Effective immediately.
FISCAL NOTE (Department of Insurance)
HB812 will have no fiscal impact on the Department.
Last action on Bill: PUBLIC ACT.............................. 91-0292
Last action date: 99-07-29
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status