|
|
|
|
96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB3093
Introduced 2/24/2009, by Rep. Tom Cross SYNOPSIS AS INTRODUCED:
|
|
215 ILCS 5/41 |
from Ch. 73, par. 653 |
|
Amends the Illinois Insurance Code. Makes a technical change in a Section
concerning the executive committee of domestic mutual companies.
|
| |
|
|
|
|
A BILL FOR
|
|
|
|
|
HB3093 |
|
LRB096 09774 RPM 19937 b |
|
|
| 1 |
| AN ACT concerning regulation.
|
| 2 |
| Be it enacted by the People of the State of Illinois, |
| 3 |
| represented in the General Assembly:
|
| 4 |
| Section 5. The Illinois Insurance Code is amended by |
| 5 |
| changing Section 41 as follows:
|
| 6 |
| (215 ILCS 5/41) (from Ch. 73, par. 653)
|
| 7 |
| (Section scheduled to be repealed on January 1, 2017)
|
| 8 |
| Sec. 41. Executive
committee. If the the by-laws so |
| 9 |
| provide, the board of directors or trustees, by a
resolution |
| 10 |
| adopted by a majority of the whole board, may designate three |
| 11 |
| or
more of their number to constitute an executive committee, |
| 12 |
| which committee
shall, to the extent provided in the resolution |
| 13 |
| or in the by-laws, have and
exercise, during the interim |
| 14 |
| between the meetings of the board, all of the
authority of the |
| 15 |
| board in the management of the company, but the
designation of |
| 16 |
| such committee shall not relieve the board or any member
|
| 17 |
| thereof of any responsibility imposed by law.
|
| 18 |
| (Source: Laws 1937, p. 696.)
|