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| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB0700 Introduced 2/8/2011, by Sen. John J. Cullerton SYNOPSIS AS INTRODUCED:
| | 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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| | SB0700 | | LRB097 04443 RPM 44482 b |
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| 1 | | AN ACT concerning regulation.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Illinois Insurance Code is amended by |
| 5 | | changing Section 143.15 as follows:
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| 6 | | (215 ILCS 5/143.15) (from Ch. 73, par. 755.15)
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| 7 | | Sec. 143.15. Mailing of cancellation notice. All notices of
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| 8 | | cancellation of insurance as
defined in subsections (a), (b) |
| 9 | | and
and (c) of Section 143.13 must
be mailed at least 30 days |
| 10 | | prior to the effective date of
cancellation to the named |
| 11 | | insured and mortgagee or lien holder,
if known, at the last |
| 12 | | mailing address known to the company. All
notices of |
| 13 | | cancellation shall include a specific explanation of
the reason |
| 14 | | or reasons for cancellation. However, where cancellation
is for |
| 15 | | nonpayment of premium, the notice of
cancellation must be |
| 16 | | mailed at least 10 days before the effective date of the
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| 17 | | cancellation. For purposes of this Section, the mortgagee or |
| 18 | | lien holder, if known, may opt to accept notification |
| 19 | | electronically.
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| 20 | | (Source: P.A. 93-713, eff. 1-1-05.)
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