Senate Sponsors: WALSH,T. House Sponsors: OSMOND-BEAUBIEN-BRADY-MAUTINO-BRUNSVOLD Short description: REINSURANCE SECURITIZATION Synopsis of Bill as introduced: Amends the Illinois Insurance Code. Creates the Special Purpose Reinsurance Vehicle Law. Authorizes the securitization of ceding insurer's risks through the creation of special purpose reinsurance vehicles (SPRV). Establishes the framework for the organization and operation of SPRVs. Establishes capital requirements and investment limitations. Requires annual reports to the Department of Insurance. Effective immediately. Last action on Bill: PUBLIC ACT.............................. 92-0124 Last action date: JUL-20-2001 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status