MADIGAN,R. (TURNER,JOHN) 215 ILCS 5/537.2 from Ch. 73, par. 1065.87-2 215 ILCS 5/537.6 from Ch. 73, par. 1065.87-6 215 ILCS 5/537.7 from Ch. 73, par. 1065.87-7 215 ILCS 5/551 from Ch. 73, par. 1065.101 Amends the Illinois Insurance Code in relation to the Illinois Insurance Guaranty Fund. Provides that the Fund is not liable for interest on judgments entered against an insured or insolvent company. Increases from 1% to 2% of net direct written premium the maximum that may be assessed upon a member company. Limits the circumstances under which the Fund is bound by actions on claims occurring before an order of liquidation. Limits to $10,000,000 the liability of the Fund for payments to or on behalf of any insured on claims arising from any one insolvent insurer. Effective immediately. SENATE AMENDMENT NO. 1. Removes provision limiting the liability of the Illinois Insurance Guaranty Fund for payments for claims arising from any one insolvent insurer to $10,000,000. Provides that the Fund shall be bound by settlements, releases, and final judgments entered more than 12 months, rather than within 12 months, prior to an order of liquidation if the settlement, release, or judgment was not a result of fraud. FEB-22-2001 S FIRST READING FEB-22-2001 S REFERRED TO SENATE RULES COMMITTEE RULES FEB-28-2001 S ASSIGNED TO COMMITTEE INS & PENS. MAR-06-2001 S DO PASS 010-000-000 SINS MAR-06-2001 S PLACED ON CALENDAR ORDER OF 2ND READING 01-03-07 MAR-07-2001 S SECOND READING MAR-07-2001 S PLACED ON CALENDAR ORDER OF 3RD READING 01-03-08 MAR-28-2001 S FILED WITH SECRETARY MAR-28-2001 S AMENDMENT NO. 01-MADIGAN,R MAR-28-2001 S AMENDMENT REFERRED TO SRUL MAR-29-2001 S AMENDMENT NO. 01-MADIGAN,R MAR-29-2001 S RULES REFERS TO SINS APR-05-2001 S AMENDMENT NO. 01-MADIGAN,R APR-05-2001 S BE APPROVED FOR CONSIDERATION SINS/006-000-000 APR-05-2001 S RECALLED TO SECOND READING APR-05-2001 S AMENDMENT NO. 01-MADIGAN,R APR-05-2001 S ADOPTED APR-05-2001 S PLACED ON CALENDAR ORDER OF 3RD READING 01-04-06 APR-05-2001 S THIRD READING - PASSED 057-000-000 APR-05-2001 H ARRIVE IN HOUSE APR-05-2001 H HOUSE SPONSOR TURNER,JOHN APR-05-2001 H FIRST READING APR-05-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES APR-06-2001 H ASSIGNED TO COMMITTEE INSURANCE APR-18-2001 H DO PASS/SHORT DEBATE 012-000-000 HINS APR-18-2001 H PLACED CALENDAR 2ND READING-SHORT DEBATE APR-18-2001 H SECOND READING-SHORT DEBATE APR-18-2001 H PLCD CAL ORDER 3RD READING-SHORT DEBATE APR-19-2001 H THIRD READING/SHORT DEBATE/PASSED 113-000-000 APR-19-2001 S PASSED BOTH HOUSES MAY-23-2001 S SENT TO THE GOVERNOR JUL-12-2001 S GOVERNOR APPROVED JUL-12-2001 S EFFECTIVE DATE 01-07-12 JUL-12-2001 S PUBLIC ACT.............................. 92-0077 END OF INQUIRY Full Text Bill Summary