Illinois General Assembly - Bill Status for HB4451
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 Bill Status of HB4451  101st General Assembly


Short Description:  INSURANCE GUARANTY FUND

House Sponsors
Rep. Jay Hoffman

Last Action
DateChamber Action
  1/13/2021HouseSession Sine Die

Statutes Amended In Order of Appearance
215 ILCS 5/537.9from Ch. 73, par. 1065.87-9
215 ILCS 5/538from Ch. 73, par. 1065.88
215 ILCS 5/538.2from Ch. 73, par. 1065.88-2
215 ILCS 5/538.10 new


Synopsis As Introduced
Amends the Illinois Insurance Code. Authorizes the Illinois Insurance Guaranty Fund, at the direction of its board of directors and subject to the approval of the Director of Insurance, to form and own a not-for-profit corporation to which the Fund may delegate certain of its powers and duties provided by the Code. Allows the not-for-profit corporation to contract to provide services to the Office of Special Deputy Receiver or any other person or organization authorized by law to carry out the duties of the Director in the capacity of receiver under specified provisions of the Code, the Illinois Life and Health Insurance Guaranty Association, and organizations in another state similar to the Illinois Insurance Guaranty Fund or the Illinois Life and Health Insurance Guaranty Association. Effective immediately.

Actions 
DateChamber Action
  1/31/2020HouseFiled with the Clerk by Rep. Jay Hoffman
  2/3/2020HouseFirst Reading
  2/3/2020HouseReferred to Rules Committee
  1/13/2021HouseSession Sine Die

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