Bill Status of HB 4677   98th General Assembly

Short Description:  TITLE INS-SETTLEMENT FUNDS

House Sponsors
Rep. Ron Sandack-Patricia R. Bellock-Frank J. Mautino

Senate Sponsors
(Sen. John G. Mulroe)


Last Action  View All Actions

DateChamber Action
  8/26/2014HousePublic Act . . . . . . . . . 98-1067

Statutes Amended In Order of Appearance
215 ILCS 155/26

Synopsis As Introduced
Amends the Title Insurance Act. Deletes language that sunsets a provision concerning disbursement of settlement funds out of fiduciary trust accounts on January 1, 2015.

House Committee Amendment No. 1
Replaces everything after the enacting clause with the introduced bill with the following changes. Further amends the Title Insurance Act. With regard to the provision authorizing a title insurance company, title insurance agent, or independent escrowee to make disbursements in connection with any escrows, settlements, or closings out of a fiduciary trust account or accounts where the funds in the aggregate amount of $50,000 or greater and are received from any single party to the transaction, requires that the title insurance company, title insurance agent, or independent escrowee and the financial institution agree (rather than be known to each other and agree) to the use of cashier's checks, teller's checks, or certified checks to disburse the loan and related closing costs being funded by the financial institution as good funds. Effective immediately.

Senate Floor Amendment No. 1 (Senate recedes May 30, 2014)
Adds reference to:
215 ILCS 5/357.32 new
215 ILCS 125/5-7from Ch. 111 1/2, par. 1415

Replaces everything after the enacting clause with the engrossed bill and the following changes. Amends the Illinois Insurance Code. Provides that no individual or group major medical accident and health policy shall contain any provision whereby benefits otherwise payable under the policy are subject to reduction solely on account of the existence of similar benefits provided under other major medical accident and health insurance policies where such reduction would operate to reduce total benefits payable under the policies below an amount equal to 100% of the total allowable expenses provided under any of the policies. Amends the Health Maintenance Organization Act. Provides that the Director of Insurance may, after notice and hearing, promulgate reasonable rules and regulations as are necessary and proper to establish specific standards, including standards for the full and fair disclosure of health care services provided by group or nongroup contracts (rather than only group contracts) or evidences of coverage. Effective immediately.

Actions 
DateChamber Action
  2/5/2014HouseFiled with the Clerk by Rep. Ron Sandack
  2/5/2014HouseFirst Reading
  2/5/2014HouseReferred to Rules Committee
  2/27/2014HouseAssigned to Financial Institutions Committee
  2/27/2014HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Ron Sandack
  2/27/2014HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  3/3/2014HouseHouse Committee Amendment No. 1 Rules Refers to Financial Institutions Committee
  3/25/2014HouseHouse Committee Amendment No. 1 Adopted in Financial Institutions Committee; by Voice Vote
  3/25/2014HouseDo Pass as Amended / Short Debate Financial Institutions Committee; 013-000-000
  3/26/2014HousePlaced on Calendar 2nd Reading - Short Debate
  4/1/2014HouseSecond Reading - Short Debate
  4/1/2014HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/2/2014HouseThird Reading - Short Debate - Passed 111-000-002
  4/2/2014HouseAdded Chief Co-Sponsor Rep. Patricia R. Bellock
  4/2/2014SenateArrive in Senate
  4/2/2014SenatePlaced on Calendar Order of First Reading April 3, 2014
  4/3/2014SenateChief Senate Sponsor Sen. John G. Mulroe
  4/7/2014SenateFirst Reading
  4/7/2014SenateReferred to Assignments
  4/23/2014SenateAssigned to Insurance
  5/8/2014SenateDo Pass Insurance; 013-000-000
  5/8/2014SenatePlaced on Calendar Order of 2nd Reading May 12, 2014
  5/13/2014SenateSecond Reading
  5/13/2014SenatePlaced on Calendar Order of 3rd Reading May 14, 2014
  5/20/2014SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. William R. Haine
  5/20/2014SenateSenate Floor Amendment No. 1 Referred to Assignments
  5/20/2014SenateAlternate Chief Sponsor Changed to Sen. William R. Haine
  5/20/2014SenateAdded as Alternate Chief Co-Sponsor Sen. John G. Mulroe
  5/20/2014SenateSenate Floor Amendment No. 1 Be Approved for Consideration Assignments
  5/20/2014SenateSponsor Removed Sen. John G. Mulroe
  5/21/2014SenateRecalled to Second Reading
  5/21/2014SenateSenate Floor Amendment No. 1 Adopted; Haine
  5/21/2014SenatePlaced on Calendar Order of 3rd Reading
  5/21/2014SenateThird Reading - Passed; 056-000-001
  5/21/2014HouseArrived in House
  5/21/2014HousePlaced on Calendar Order of Concurrence Senate Amendment(s) 1
  5/21/2014HouseSenate Floor Amendment No. 1 Motion Filed Concur Rep. Ron Sandack
  5/21/2014HouseSenate Floor Amendment No. 1 Motion to Concur Referred to Rules Committee
  5/29/2014HouseAdded Chief Co-Sponsor Rep. Frank J. Mautino
  5/29/2014HouseSenate Floor Amendment No. 1 Motion Filed Non-Concur Rep. Ron Sandack
  5/29/2014HouseSenate Floor Amendment No. 1 Motion Prevailed ; -Non-concur
  5/29/2014HouseHouse Non-Concurs
  5/29/2014SenateSecretary's Desk - Non-Concurrence Senate Amendment(s) 1
  5/29/2014SenatePlaced on Calendar Order of Non-Concurrence Senate Amendment(s) 1 - May 30, 2014
  5/29/2014SenateAlternate Chief Sponsor Changed to Sen. John G. Mulroe
  5/29/2014SenateSenate Floor Amendment No. 1 Motion to Recede Filed with Secretary Sen. John G. Mulroe
  5/29/2014SenateSenate Floor Amendment No. 1 Motion to Recede Referred to Assignments
  5/30/2014SenateSenate Floor Amendment No. 1 Motion to Recede Be Approved for Consideration Assignments
  5/30/2014SenateSenate Floor Amendment No. 1 Senate Recedes 056-000-000
  5/30/2014HousePassed Both Houses
  6/27/2014HouseSent to the Governor
  8/26/2014HouseGovernor Approved
  8/26/2014HouseEffective Date August 26, 2014
  8/26/2014HousePublic Act . . . . . . . . . 98-1067

Back To Top