Bill Status of SB 1729   98th General Assembly

Short Description:  INS CD-RISK BASED CAPITAL

Senate Sponsors
Sen. William R. Haine

House Sponsors
(Rep. JoAnn D. Osmond)


Last Action  View All Actions

DateChamber Action
  8/2/2013SenatePublic Act . . . . . . . . . 98-0157

Statutes Amended In Order of Appearance
215 ILCS 5/35A-5
215 ILCS 5/35A-10
215 ILCS 5/35A-15
215 ILCS 5/35A-30
215 ILCS 5/35A-60

Synopsis As Introduced
Amends the Illinois Insurance Code in the Article concerning risk-based capital. Sets forth a definition of "fraternal benefit society" and makes a change in the definition of "negative trend". Includes fraternal benefit societies in the provisions concerning RBC Reports and mandatory control level events. Makes a change to one of the definitions of a company action level event to include the filing of an RBC Report by an insurer that indicates that the insurer, if a life, health, or life and health insurer or a fraternal benefit society (rather than a life, health, or life and health insurer), has total adjusted capital that is greater than or equal to its company action level RBC, but less than the product of its authorized control level RBC and 3.0 (rather than 2.5) and has a negative trend. Sets forth a provision concerning the RBC Reports required to be filed by fraternal benefit societies. Effective immediately.

Actions 
DateChamber Action
  2/15/2013SenateFiled with Secretary by Sen. William R. Haine
  2/15/2013SenateFirst Reading
  2/15/2013SenateReferred to Assignments
  2/27/2013SenateAssigned to Insurance
  3/6/2013SenateDo Pass Insurance; 009-000-000
  3/6/2013SenatePlaced on Calendar Order of 2nd Reading March 7, 2013
  3/12/2013SenateSecond Reading
  3/12/2013SenatePlaced on Calendar Order of 3rd Reading March 13, 2013
  4/10/2013SenateThird Reading - Passed; 052-000-000
  4/10/2013HouseArrived in House
  4/15/2013HouseChief House Sponsor Rep. JoAnn D. Osmond
  4/15/2013HouseFirst Reading
  4/15/2013HouseReferred to Rules Committee
  4/16/2013HouseAssigned to Insurance Committee
  5/2/2013HouseDo Pass / Short Debate Insurance Committee; 020-000-000
  5/2/2013HousePlaced on Calendar 2nd Reading - Short Debate
  5/7/2013HouseSecond Reading - Short Debate
  5/7/2013HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/9/2013HouseThird Reading - Short Debate - Passed 114-000-000
  5/9/2013SenatePassed Both Houses
  6/6/2013SenateSent to the Governor
  8/2/2013SenateGovernor Approved
  8/2/2013SenateEffective Date August 2, 2013
  8/2/2013SenatePublic Act . . . . . . . . . 98-0157

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