Illinois General Assembly - Bill Status for SB1494

Illinois General Assembly - Bill Status for SB1494

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Bill Status of SB1494 103rd General Assembly

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Short Description: INS-DOMESTIC STOCK CO/DIVISION

Senate Sponsors
Sen. Napoleon Harris, III

House Sponsors
(Rep. Thaddeus Jones - Bob Morgan)

Last Action

Date	Chamber	Action
6/9/2023	Senate	Public Act . . . . . . . . . 103-0090

Statutes Amended In Order of Appearance

215 ILCS 5/35B-25

215 ILCS 5/35B-30

Synopsis As Introduced
Amends the Domestic Stock Company Division Article of the Illinois Insurance Code. In provisions concerning plan of division approval, provides that any decision by the Director of Insurance on whether or not to hold a public hearing on either a plan of division or an amended plan of division may be made independently by the Director. Provides that if a dividing company amends its plan of division at any time before the plan of division becomes effective, then the dividing company shall file the amended plan of division for approval by the Director. Provides that if a hearing is conducted on the amended plan of division after the Director has approved a previous plan of division, then the hearing shall not be considered a rehearing. Provides that the fee assessed for filing a plan of division shall not apply to the filing of an amended plan of division. In provisions concerning certificates of division, provides that if the dividing company files an amended plan of division with the Director after a certificate of division has been filed for a previous plan, then the dividing company shall file a certificate of stay with the recorder. Provides that the certificate of stay shall identify the certificate of division being stayed and the date on which the amended plan of division was filed with the Director. Makes other changes. Effective immediately.

Actions

Date	Chamber	Action
2/7/2023	Senate	Filed with Secretary by Sen. Napoleon Harris, III
2/7/2023	Senate	First Reading
2/7/2023	Senate	Referred to Assignments
2/14/2023	Senate	Assigned to Insurance
2/22/2023	Senate	Do Pass Insurance; 010-000-000
2/22/2023	Senate	Placed on Calendar Order of 2nd Reading February 23, 2023
3/22/2023	Senate	Second Reading
3/22/2023	Senate	Placed on Calendar Order of 3rd Reading March 23, 2023
3/23/2023	Senate	Third Reading - Passed; 057-000-000
3/23/2023	House	Arrived in House
3/23/2023	House	Chief House Sponsor Rep. Thaddeus Jones
3/23/2023	House	First Reading
3/23/2023	House	Referred to Rules Committee
4/11/2023	House	Assigned to Insurance Committee
4/12/2023	House	Added Alternate Chief Co-Sponsor Rep. Bob Morgan
4/18/2023	House	Do Pass / Short Debate Insurance Committee; 014-000-000
4/19/2023	House	Placed on Calendar 2nd Reading - Short Debate
4/27/2023	House	Second Reading - Short Debate
4/27/2023	House	Placed on Calendar Order of 3rd Reading - Short Debate
5/8/2023	House	Third Reading - Short Debate - Passed 105-000-000
5/8/2023	Senate	Passed Both Houses
6/6/2023	Senate	Sent to the Governor
6/9/2023	Senate	Governor Approved
6/9/2023	Senate	Effective Date June 9, 2023
6/9/2023	Senate	Public Act . . . . . . . . . 103-0090