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90_SB0417ccr001
LRB9002307JSgcccr7
1 90TH GENERAL ASSEMBLY
2 CONFERENCE COMMITTEE REPORT
3 ON SENATE BILL 417
4 -------------------------------------------------------------
5 -------------------------------------------------------------
6 To the President of the Senate and the Speaker of the
7 House of Representatives:
8 We, the conference committee appointed to consider the
9 differences between the houses in relation to House Amendment
10 No. 1 to Senate Bill 417, recommend the following:
11 (1) that the House of Representatives recede from House
12 Amendment No. 1; and
13 (2) that Senate Bill 417 be amended by replacing the
14 title with the following:
15 "AN ACT concerning certain contracts, amending named
16 Acts."; and
17 by replacing everything after the enacting clause with the
18 following:
19 "Section 5. The Illinois Insurance Code is amended by
20 changing Section 78 as follows:
21 (215 ILCS 5/78) (from Ch. 73, par. 690)
22 Sec. 78. Governmental subscribers accounts; dividends;
23 other returns.
24 (a) The attorney-in-fact of a governmental reciprocal,
25 in addition to the books of account of the reciprocal, shall
26 keep and maintain from and after the effective date of this
27 amendatory Act of 1993, a separate account for each
28 individual subscriber, setting forth therein the date or
29 periods of the subscriber's participation in the reciprocal,
30 the subscriber's deposits, the savings returned to the
31 subscriber and such other information as may be necessary for
32 the determination of the subscriber's proportionate share, if
-2- LRB9002307JSgcccr7
1 any, of the surplus funds of the reciprocal in case of
2 liquidation. The attorney-in-fact shall not be required to
3 file a list of the subscribers with the Department.
4 (b) The board of directors of the attorney-in-fact of
5 any governmental reciprocal may in its discretion and subject
6 to the prior approval of the advisory committee of the
7 governmental reciprocal and the Director of Insurance:
8 (1) declare dividends to its subscribers in the
9 same manner and upon and subject to the same terms and
10 conditions as are provided in Section 54 for mutual
11 companies, except that the reference to "articles of
12 incorporation" in Section 54 shall mean the declaration
13 of organization or the power of attorney or other
14 authority of the attorney-in-fact under which contracts
15 of insurance are to be exchanged pursuant to this article
16 as applied to governmental reciprocals; and
17 (2) return guaranty fund or guaranty capital
18 contributions in the same manner and upon and subject to
19 the same terms and conditions as are provided in Section
20 56 for mutual companies and upon compliance with the
21 provisions of the agreement to subscribe (the agreement
22 to make the contributions), if any.
23 No payment or return of surplus (other than return of
24 guaranty fund or or guaranty capital) shall be made except in
25 accordance with this Section and sound business judgment.
26 (Source: P.A. 88-364.)
27 Section 10. The Service Contract Act is amended by
28 changing Section 10 as follows:
29 (215 ILCS 152/10)
30 Sec. 10. Exemptions. Service contract providers and
31 related service contract sellers and administrators complying
32 with this Act are not required to comply with and are not
33 subject to any provision of the Illinois Insurance Code. A
-3- LRB9002307JSgcccr7
1 service contract provider who is the manufacturer or a
2 wholly-owned subsidiary of the manufacturer of the product or
3 the builder, seller, or lessor of the product that is the
4 subject of the service contract is required to comply only
5 with Sections 30, 35, 45, and 50 of this Act; except that, a
6 service contract provider who sells a motor vehicle or who
7 leases, but is not the manufacturer of, the motor vehicle
8 that is the subject of the service contract must comply with
9 this Act in its entirety. Contracts for the repair and
10 monitoring of private alarm or private security systems
11 regulated under the Private Detective, Private Alarm, Private
12 Security, and Locksmith Act of 1993 are not required to
13 comply with this Act and are not subject to any provision of
14 the Illinois Insurance Code.
15 (Source: P.A. 90-711, eff. 8-7-98.)
16 Section 99. Effective date. This Act takes effect upon
17 becoming law.".
18 Submitted on , 1998.
19 ______________________________ _____________________________
20 Senator Madigan Representative Schakowsky
21 ______________________________ _____________________________
22 Senator Walsh Representative Turner, Art
23 ______________________________ _____________________________
24 Senator Petka Representative Hannig
25 ______________________________ _____________________________
26 Senator Farley Representative Churchill
27 ______________________________ _____________________________
28 Senator Garcia Representative Cross
29 Committee for the Senate Committee for the House
30 90TH GENERAL ASSEMBLY
31 CONFERENCE COMMITTEE REPORT
32 ON SENATE BILL 417
33 -------------------------------------------------------------
34 -------------------------------------------------------------
35 To the President of the Senate and the Speaker of the
36 House of Representatives:
-4- LRB9002307JSgcccr7
1 We, the conference committee appointed to consider the
2 differences between the houses in relation to House Amendment
3 No. 1 to Senate Bill 417, recommend the following:
4 (1) that the House of Representatives recede from House
5 Amendment No. 1; and
6 (2) that Senate Bill 417 be amended by replacing the
7 title with the following:
8 "AN ACT concerning certain contracts, amending named
9 Acts."; and
10 by replacing everything after the enacting clause with the
11 following:
12 "Section 5. The Illinois Insurance Code is amended by
13 changing Section 78 as follows:
14 (215 ILCS 5/78) (from Ch. 73, par. 690)
15 Sec. 78. Governmental subscribers accounts; dividends;
16 other returns.
17 (a) The attorney-in-fact of a governmental reciprocal,
18 in addition to the books of account of the reciprocal, shall
19 keep and maintain from and after the effective date of this
20 amendatory Act of 1993, a separate account for each
21 individual subscriber, setting forth therein the date or
22 periods of the subscriber's participation in the reciprocal,
23 the subscriber's deposits, the savings returned to the
24 subscriber and such other information as may be necessary for
25 the determination of the subscriber's proportionate share, if
26 any, of the surplus funds of the reciprocal in case of
27 liquidation. The attorney-in-fact shall not be required to
28 file a list of the subscribers with the Department.
29 (b) The board of directors of the attorney-in-fact of
30 any governmental reciprocal may in its discretion and subject
31 to the prior approval of the advisory committee of the
32 governmental reciprocal and the Director of Insurance:
-5- LRB9002307JSgcccr7
1 (1) declare dividends to its subscribers in the
2 same manner and upon and subject to the same terms and
3 conditions as are provided in Section 54 for mutual
4 companies, except that the reference to "articles of
5 incorporation" in Section 54 shall mean the declaration
6 of organization or the power of attorney or other
7 authority of the attorney-in-fact under which contracts
8 of insurance are to be exchanged pursuant to this article
9 as applied to governmental reciprocals; and
10 (2) return guaranty fund or guaranty capital
11 contributions in the same manner and upon and subject to
12 the same terms and conditions as are provided in Section
13 56 for mutual companies and upon compliance with the
14 provisions of the agreement to subscribe (the agreement
15 to make the contributions), if any.
16 No payment or return of surplus (other than return of
17 guaranty fund or or guaranty capital) shall be made except in
18 accordance with this Section and sound business judgment.
19 (Source: P.A. 88-364.)
20 Section 10. The Service Contract Act is amended by
21 changing Section 10 as follows:
22 (215 ILCS 152/10)
23 Sec. 10. Exemptions. Service contract providers and
24 related service contract sellers and administrators complying
25 with this Act are not required to comply with and are not
26 subject to any provision of the Illinois Insurance Code. A
27 service contract provider who is the manufacturer or a
28 wholly-owned subsidiary of the manufacturer of the product or
29 the builder, seller, or lessor of the product that is the
30 subject of the service contract is required to comply only
31 with Sections 30, 35, 45, and 50 of this Act; except that, a
32 service contract provider who sells a motor vehicle or who
33 leases, but is not the manufacturer of, the motor vehicle
-6- LRB9002307JSgcccr7
1 that is the subject of the service contract must comply with
2 this Act in its entirety. Contracts for the repair and
3 monitoring of private alarm or private security systems
4 regulated under the Private Detective, Private Alarm, Private
5 Security, and Locksmith Act of 1993 are not required to
6 comply with this Act and are not subject to any provision of
7 the Illinois Insurance Code.
8 (Source: P.A. 90-711, eff. 8-7-98.)
9 Section 99. Effective date. This Act takes effect upon
10 becoming law.".
11 Submitted on , 1998.
12 ______________________________ _____________________________
13 Senator Madigan Representative Schakowsky
14 ______________________________ _____________________________
15 Senator Walsh Representative Turner, Art
16 ______________________________ _____________________________
17 Senator Petka Representative Hannig
18 ______________________________ _____________________________
19 Senator Farley Representative Churchill
20 ______________________________ _____________________________
21 Senator Garcia Representative Cross
22 Committee for the Senate Committee for the House