101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB1378

 

Introduced , by Rep. Michael J. Madigan

 

SYNOPSIS AS INTRODUCED:
 
215 ILCS 5/123D-1

    Amends the Illinois Insurance Code. Makes a technical change in a Section concerning the purpose of the Article regarding nonprofit risk organizations.


LRB101 03424 SMS 48432 b

 

 

A BILL FOR

 

HB1378LRB101 03424 SMS 48432 b

1    AN ACT concerning regulation.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Insurance Code is amended by
5changing Section 123D-1 as follows:
 
6    (215 ILCS 5/123D-1)
7    Sec. 123D-1. Purpose; construction. The The purpose of this
8Article is to provide for the organization of and issuance of a
9certificate of authority to nonprofit risk organizations that
10insure nonprofit organizations and that will qualify, and
11continue to qualify, as a qualified charitable risk pool, as
12defined in subsection (n) of Section 501 of the Internal
13Revenue Code.
14(Source: P.A. 93-918, eff. 1-1-05.)