093_SB1050 LRB093 07872 JLS 08062 b 1 AN ACT concerning insurance. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Illinois Insurance Code is amended by 5 changing Section 143.27 as follows: 6 (215 ILCS 5/143.27) (from Ch. 73, par. 755.27) 7 Sec. 143.27. Time for repairs; cancellation; nonrenewal. 8 No insurance company may give to any named insured any notice 9 of cancellation or nonrenewal of a policy of fire and 10 extended coverage insurance, as defined in subsection (b) of 11 Section 143.13, covering property which is capable of being 12 rehabilitated, without allowing the named insured a 13 reasonable period of time in which to repair defects in the 14 insured property or relevant portion thereof, to an extent 15 reasonably sufficient to facilitate continued coverage 16 thereon. The time reasonably allowable therefor (which in no 17 event shall exceed ninety days) and the degree of sufficiency 18 of such rehabilitative efforts which insurance companies 19 shall accept, may be determined by a certificate from a 20 licensed contractor or architect and such rehabilitative 21 efforts shall be in compliance with local municipal building 22 codes. The notice of need for repair shall be from the 23 insurance company, which may be sent to the insured at any 24 time during the policy term, and which notice shall commence 25 the time period established under this Section. 26 (Source: P.A. 81-857.)