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94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
SB1721
Introduced 2/25/2005, by Sen. James F. Clayborne, Jr. SYNOPSIS AS INTRODUCED:
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215 ILCS 5/143.15 |
from Ch. 73, par. 755.15 |
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Amends the Illinois Insurance Code. Makes a technical change in a Section
concerning notices of cancellation.
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A BILL FOR
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SB1721 |
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LRB094 08805 LJB 39022 b |
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| AN ACT concerning regulation.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Illinois Insurance Code is amended by |
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| changing Section 143.15 as follows:
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| (215 ILCS 5/143.15) (from Ch. 73, par. 755.15)
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| Sec. 143.15. Mailing of cancellation notice. All notices of
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| cancellation of insurance as
defined in subsections (a), (b) |
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and (c) of Section 143.13 must
be mailed at least 30 days |
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| prior to the effective date of
cancellation to the named |
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| insured and mortgagee or lien holder,
if known, at the last |
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| mailing address known to the company. All
notices of |
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| cancellation shall include a specific explanation of
the reason |
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| or reasons for cancellation. However, where cancellation
is for |
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| nonpayment of premium, the notice of
cancellation must be |
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| mailed at least 10 days before the effective date of the
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| cancellation. For purposes of this Section, the mortgagee or |
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| lien holder, if known, may opt to accept notification |
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| electronically.
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| (Source: P.A. 93-713, eff. 1-1-05.)
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