|
|
Sen. Deanna Demuzio
Filed: 3/16/2005
|
|
09400SB0132sam001 |
|
LRB094 06592 LJB 43800 a |
|
|
| 1 |
| AMENDMENT TO SENATE BILL 132
|
| 2 |
| AMENDMENT NO. ______. Amend Senate Bill 132 by replacing |
| 3 |
| everything after the enacting clause with the following:
|
| 4 |
| "Section 5. The Illinois Insurance Code is amended by |
| 5 |
| changing Section 143.27 as follows:
|
| 6 |
| (215 ILCS 5/143.27) (from Ch. 73, par. 755.27)
|
| 7 |
| Sec. 143.27. No insurance company may give to any named |
| 8 |
| insured any notice
of cancellation or nonrenewal of a policy of |
| 9 |
| fire and
and extended coverage
insurance, as defined in |
| 10 |
| subsection (b) of Section 143.13, covering property
which is |
| 11 |
| capable of being rehabilitated, without allowing the named |
| 12 |
| insured
a reasonable period of time in which to repair defects |
| 13 |
| in the insured property
or relevant portion thereof, to an |
| 14 |
| extent reasonably sufficient to facilitate
continued coverage |
| 15 |
| thereon. The time reasonably allowable therefor (which
in no |
| 16 |
| event shall exceed ninety days) and the degree of sufficiency |
| 17 |
| of such
rehabilitative efforts which insurance companies shall |
| 18 |
| accept, may be determined
by a certificate from a licensed |
| 19 |
| contractor or architect and such rehabilitative
efforts shall |
| 20 |
| be in compliance with local municipal building codes. The
|
| 21 |
| notice of need for repair shall be from the insurance company, |
| 22 |
| which may
be sent to the insured at any time during the policy |
| 23 |
| term, and which notice
shall commence the time period |
| 24 |
| established under this Section. |