Bill Status of HB 1955   102nd General Assembly

Short Description:  INS-HOLDING COMPANY SYSTEMS

House Sponsors
Rep. Thaddeus Jones-Debbie Meyers-Martin-Robert Rita-Anthony DeLuca

Senate Sponsors
(Sen. Napoleon Harris, III)


Last Action  View All Actions

DateChamber Action
  8/16/2021HousePublic Act . . . . . . . . . 102-0394

Statutes Amended In Order of Appearance
215 ILCS 5/35B-25
215 ILCS 5/131.1from Ch. 73, par. 743.1
215 ILCS 5/131.8from Ch. 73, par. 743.8
215 ILCS 5/131.20d new
215 ILCS 5/131.22from Ch. 73, par. 743.22
215 ILCS 5/131.9a rep.
215 ILCS 5/131.14d rep.

Synopsis As Introduced
Amends the Illinois Insurance Code. In provisions requiring the Director of Insurance to approve specified acquisitions of control, provides that the Director shall deny the acquisition if the competence, experience, and integrity of those persons who would control the operation are such that it would not (rather than would) be in the best interests of specified individuals. Provides specified procedures by which the Director may designate a group-wide supervisor of an internationally active insurance group and supervise internationally active insurance groups. In provisions concerning confidential treatment of certain information, excludes information submitted pursuant to specified provisions concerning mergers and acquisitions that is not personal financial information. Provides that the Director may share confidential and privileged documents, materials, or other information with third-party consultants to assist in the performance of the Director's duties. Makes other changes. Defines "group-wide supervisor", "internationally active insurance group", "NAIC", and "securityholder". Repeals certain provisions concerning exemptions and provisions concerning confidentiality of documents, materials, and other information. Effective immediately.

House Floor Amendment No. 1
Provides that documents, materials, or other information in the possession or control of the Department of Insurance that are obtained by or disclosed to the Director or any other person in the course of an examination or investigation made pursuant to specified provisions (rather than pursuant to the Article, with the exception of information submitted pursuant to specified provisions that is not personal financial information) shall be confidential by law and privileged, shall not be subject to the Illinois Freedom of Information Act, shall not be subject to subpoena, and shall not be subject to discovery or admissible in evidence in any private civil action.

Actions 
DateChamber Action
  2/16/2021HouseFiled with the Clerk by Rep. Thaddeus Jones
  2/17/2021HouseFirst Reading
  2/17/2021HouseReferred to Rules Committee
  3/9/2021HouseAssigned to Insurance Committee
  3/15/2021HouseDo Pass / Short Debate Insurance Committee; 019-000-000
  3/18/2021HousePlaced on Calendar 2nd Reading - Short Debate
  4/13/2021HouseSecond Reading - Short Debate
  4/13/2021HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/14/2021HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Thaddeus Jones
  4/14/2021HouseHouse Floor Amendment No. 1 Referred to Rules Committee
  4/20/2021HouseHouse Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 005-000-000
  4/20/2021HouseAdded Chief Co-Sponsor Rep. Debbie Meyers-Martin
  4/20/2021HouseAdded Chief Co-Sponsor Rep. Robert Rita
  4/20/2021HouseAdded Chief Co-Sponsor Rep. Anthony DeLuca
  4/21/2021HouseRecalled to Second Reading - Short Debate
  4/21/2021HouseHouse Floor Amendment No. 1 Adopted
  4/21/2021HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/21/2021HouseThird Reading - Short Debate - Passed 117-000-000
  4/21/2021SenateArrive in Senate
  4/21/2021SenatePlaced on Calendar Order of First Reading April 22, 2021
  4/23/2021SenateChief Senate Sponsor Sen. Napoleon Harris, III
  4/23/2021SenateFirst Reading
  4/23/2021SenateReferred to Assignments
  5/4/2021SenateAssigned to Insurance
  5/13/2021SenateDo Pass Insurance; 011-000-000
  5/13/2021SenatePlaced on Calendar Order of 2nd Reading May 14, 2021
  5/14/2021SenateSecond Reading
  5/14/2021SenatePlaced on Calendar Order of 3rd Reading May 17, 2021
  5/24/2021SenatePlaced on Calendar Order of 3rd Reading ** May 25, 2021
  5/27/2021SenateThird Reading - Passed; 057-000-000
  5/27/2021HousePassed Both Houses
  6/23/2021HouseSent to the Governor
  8/16/2021HouseGovernor Approved
  8/16/2021HouseEffective Date August 16, 2021
  8/16/2021HousePublic Act . . . . . . . . . 102-0394

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