Bill Status of HB 5160   100th General Assembly

Short Description:  INS CD-DOMESTIC STOCK COMPANY

House Sponsors
Rep. Lou Lang-Dan Brady-André Thapedi-Anthony DeLuca

Last Action  View All Actions

DateChamber Action
  1/8/2019HouseSession Sine Die

Statutes Amended In Order of Appearance
215 ILCS 5/Art. IIB heading new
215 ILCS 5/35B-1 new
215 ILCS 5/35B-5 new
215 ILCS 5/35B-10 new
215 ILCS 5/35B-15 new
215 ILCS 5/35B-20 new
215 ILCS 5/35B-25 new
215 ILCS 5/35B-30 new
215 ILCS 5/35B-35 new
215 ILCS 5/35B-40 new
215 ILCS 5/35B-45 new
215 ILCS 5/35B-50 new
215 ILCS 5/156from Ch. 73, par. 768

Synopsis As Introduced
Amends the Illinois Insurance Code. Creates the Domestic Stock Company Division Article in the Code. Provides that a domestic stock company may divide into 2 or more resulting companies pursuant to a plan of division. Contains provisions concerning the contents of the plan of division, approval of the plan of division by the Director of Insurance, effects of a division, certificates of division, liabilities, and shareholder rights. Makes conforming changes in provisions concerning mergers and consolidations.

House Floor Amendment No. 1
Removes language providing that a resulting company shall only be liable for the liabilities allocated to it in accordance with the plan of division and certain provisions and shall not be liable for any other liabilities under the common law doctrine of successor liability or a similar theory of liability applicable to transferees or assignees of property.

Actions 
DateChamber Action
  2/15/2018HouseFiled with the Clerk by Rep. Lou Lang
  2/16/2018HouseFirst Reading
  2/16/2018HouseReferred to Rules Committee
  2/26/2018HouseAssigned to Insurance: Property & Casualty Committee
  3/7/2018HouseDo Pass / Short Debate Insurance: Property & Casualty Committee; 011-000-000
  3/8/2018HousePlaced on Calendar 2nd Reading - Short Debate
  3/23/2018HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Lou Lang
  3/23/2018HouseHouse Floor Amendment No. 1 Referred to Rules Committee
  4/9/2018HouseHouse Floor Amendment No. 1 Rules Refers to Insurance: Property & Casualty Committee
  4/12/2018HouseAdded Chief Co-Sponsor Rep. Dan Brady
  4/13/2018HouseHouse Floor Amendment No. 1 Recommends Be Adopted Insurance: Property & Casualty Committee; 008-000-000
  4/20/2018HouseSecond Reading - Short Debate
  4/20/2018HouseHouse Floor Amendment No. 1 Adopted
  4/20/2018HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/25/2018HouseAdded Chief Co-Sponsor Rep. André Thapedi
  4/25/2018HouseAdded Chief Co-Sponsor Rep. Anthony DeLuca
  4/27/2018HouseRule 19(a) / Re-referred to Rules Committee
  1/8/2019HouseSession Sine Die

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