Bill Status of SB 2877   97th General Assembly

Short Description:  INS CD-HOLDING CO SYSTEMS

Senate Sponsors
Sen. William R. Haine

House Sponsors
(Rep. Frank J. Mautino)


Last Action  View All Actions

DateChamber Action
  1/8/2013SenateSession Sine Die

Statutes Amended In Order of Appearance
215 ILCS 5/131.1from Ch. 73, par. 743.1
215 ILCS 5/131.2from Ch. 73, par. 743.2
215 ILCS 5/131.3from Ch. 73, par. 743.3
215 ILCS 5/131.4from Ch. 73, par. 743.4
215 ILCS 5/131.5from Ch. 73, par. 743.5
215 ILCS 5/131.6from Ch. 73, par. 743.6
215 ILCS 5/131.8from Ch. 73, par. 743.8
215 ILCS 5/131.8afrom Ch. 73, par. 743.8a
215 ILCS 5/131.11from Ch. 73, par. 743.11
215 ILCS 5/131.12from Ch. 73, par. 743.12
215 ILCS 5/131.12afrom Ch. 73, par. 743.12a
215 ILCS 5/131.13from Ch. 73, par. 743.13
215 ILCS 5/131.14from Ch. 73, par. 743.14
215 ILCS 5/131.14a new
215 ILCS 5/131.14b new
215 ILCS 5/131.14c new
215 ILCS 5/131.16from Ch. 73, par. 743.16
215 ILCS 5/131.17from Ch. 73, par. 743.17
215 ILCS 5/131.18from Ch. 73, par. 743.18
215 ILCS 5/131.19from Ch. 73, par. 743.19
215 ILCS 5/131.20from Ch. 73, par. 743.20
215 ILCS 5/131.20afrom Ch. 73, par. 743.20a
215 ILCS 5/131.20b
215 ILCS 5/131.20c new
215 ILCS 5/131.21from Ch. 73, par. 743.21
215 ILCS 5/131.22from Ch. 73, par. 743.22
215 ILCS 5/131.24from Ch. 73, par. 743.24
215 ILCS 5/131.27from Ch. 73, par. 743.27
215 ILCS 5/131.9 rep.

Synopsis As Introduced
Amends the Insurance Code in the Article concerning insurance holding company systems. Makes changes to the definitions. Provides that a domestic company, either by itself or in cooperation with one or more persons, may organize or acquire one or more subsidiaries, and that the subsidiaries may conduct any kind of business or businesses and their authority to do so shall not be limited by reason of the fact that they are subsidiaries of a domestic company. Makes changes to the provisions concerning a domestic company's permitted investments. Includes certain filing requirements in the provision concerning the acquisition of control of or merger with a domestic company. Makes changes to provisions concerning the statement that is required to be filed with the Director of Insurance. Deletes certain provisions concerning deposits made with the Director, orders entered by the Director, and reports of potential adverse economic impact made to the General Assembly by the Director. Makes changes to the provisions concerning certain violations, judicial jurisdiction, acquisitions, registration statements, reporting materials, termination of registration, disclaimers, prior notification, officers and directors, examination, confidential treatment, voting , sanctions, and judicial review. . Sets forth provisions concerning summary filing, enterprise risk filing, violations, and supervisory colleges. Repeals a provision concerning the delivery of certain filings. Contains a severability provision. Effective on January 1, 2013.

Senate Committee Amendment No. 3
Adds reference to:
215 ILCS 5/131.23from Ch. 73, par. 743.23
215 ILCS 5/131.26from Ch. 73, par. 743.26
215 ILCS 5/131.29 new
215 ILCS 5/131.30 new
215 ILCS 5/356z.12

Replaces references to "insurer" with "company" throughout the bill. Further amends the Illinois Insurance Code. Makes changes in the provision concerning injunctions, prohibitions against voting securities, and sequestration of voting securities and revocation, suspension, or non-renewal of a company's license. Provides that the Director of Insurance may adopt such administrative rules as are necessary to implement the provisions of the Article concerning Insurance Holding Company Systems. Provides that the Illinois Insurance Code supersedes all laws and parts of laws of the State inconsistent with the Code with respect to matters covered by the Code. Deletes the requirement that certain notice regarding coverage for a dependent shall be provided to an insured by the insurer in a notice delivered to an insured on a semi-annual basis. Changes the effective date of the provision concerning enterprise risk filing from January 1, 2013 to July 1, 2013. Makes other changes.

Senate Floor Amendment No. 5
Provides that the requirement concerning the agreement regarding the provision of a certain annual report shall begin on July 1, 2013. Replaces a reference to "insurers" with "companies". Changes certain references to provisions of the Illinois Insurance Code. Makes technical changes.

Senate Floor Amendment No. 6
Restores current law that includes guarantee transactions in a provision concerning notice requirements. Deletes a provision concerning notice requirements with regard to guarantees when made by a domestic insurer.

Actions 
DateChamber Action
  2/1/2012SenateFiled with Secretary by Sen. William R. Haine
  2/1/2012SenateFirst Reading
  2/1/2012SenateReferred to Assignments
  2/7/2012SenateAssigned to Insurance
  3/1/2012SenatePostponed - Insurance
  3/1/2012SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. William R. Haine
  3/1/2012SenateSenate Committee Amendment No. 1 Referred to Assignments
  3/1/2012SenateSenate Committee Amendment No. 2 Filed with Secretary by Sen. William R. Haine
  3/1/2012SenateSenate Committee Amendment No. 2 Referred to Assignments
  3/2/2012SenateSenate Committee Amendment No. 3 Filed with Secretary by Sen. William R. Haine
  3/2/2012SenateSenate Committee Amendment No. 3 Referred to Assignments
  3/6/2012SenateSenate Committee Amendment No. 1 Assignments Refers to Insurance
  3/6/2012SenateSenate Committee Amendment No. 2 Assignments Refers to Insurance
  3/6/2012SenateSenate Committee Amendment No. 3 Assignments Refers to Insurance
  3/7/2012SenateSenate Committee Amendment No. 4 Filed with Secretary by Sen. William R. Haine
  3/7/2012SenateSenate Committee Amendment No. 4 Referred to Assignments
  3/7/2012SenateSenate Committee Amendment No. 3 Adopted
  3/8/2012SenateSenate Committee Amendment No. 1 Postponed - Insurance
  3/8/2012SenateSenate Committee Amendment No. 2 Postponed - Insurance
  3/8/2012SenateDo Pass as Amended Insurance; 009-000-000
  3/8/2012SenatePlaced on Calendar Order of 2nd Reading March 21, 2012
  3/9/2012SenateSenate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
  3/9/2012SenateSenate Committee Amendment No. 2 Rule 3-9(a) / Re-referred to Assignments
  3/12/2012SenateSenate Floor Amendment No. 5 Filed with Secretary by Sen. William R. Haine
  3/12/2012SenateSenate Floor Amendment No. 5 Referred to Assignments
  3/22/2012SenateSenate Floor Amendment No. 6 Filed with Secretary by Sen. William R. Haine
  3/22/2012SenateSenate Floor Amendment No. 6 Referred to Assignments
  3/22/2012SenateSenate Floor Amendment No. 5 Assignments Refers to Insurance
  3/23/2012SenateSenate Floor Amendment No. 7 Filed with Secretary by Sen. William R. Haine
  3/23/2012SenateSenate Floor Amendment No. 7 Referred to Assignments
  3/26/2012SenateSenate Floor Amendment No. 6 Assignments Refers to Insurance
  3/26/2012SenateSenate Floor Amendment No. 7 Assignments Refers to Insurance
  3/27/2012SenateSenate Floor Amendment No. 5 Recommend Do Adopt Insurance; 010-000-000
  3/27/2012SenateSenate Floor Amendment No. 6 Recommend Do Adopt Insurance; 010-000-000
  3/27/2012SenateSenate Floor Amendment No. 7 Postponed - Insurance
  3/27/2012SenateSecond Reading
  3/27/2012SenateSenate Floor Amendment No. 5 Adopted; Haine
  3/27/2012SenateSenate Floor Amendment No. 6 Adopted; Haine
  3/27/2012SenatePlaced on Calendar Order of 3rd Reading March 28, 2012
  3/28/2012SenateThird Reading - Passed; 054-000-000
  3/28/2012SenateSenate Committee Amendment No. 1 Tabled Pursuant to Rule 5-4(a)
  3/28/2012SenateSenate Committee Amendment No. 2 Tabled Pursuant to Rule 5-4(a)
  3/28/2012SenateSenate Committee Amendment No. 4 Tabled Pursuant to Rule 5-4(a)
  3/28/2012SenateSenate Floor Amendment No. 7 Tabled Pursuant to Rule 5-4(a)
  3/28/2012HouseArrived in House
  3/28/2012HouseChief House Sponsor Rep. Frank J. Mautino
  3/28/2012HousePlaced on Calendar Order of First Reading
  3/28/2012HouseFirst Reading
  3/28/2012HouseReferred to Rules Committee
  1/8/2013SenateSession Sine Die

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