MADIGAN,R. (BRADY) 215 ILCS 5/Art. VIII rep. Amends the Illinois Insurance Code. Repeals Article VIII of the Code, which regulates the investments of domestic insurance companies. SENATE AMENDMENT NO. 1. Adds reference to: 215 ILCS 5/Art. VIII, Part 1, heading new 215 ILCS 5/126.1 new 215 ILCS 5/126.2 new 215 ILCS 5/126.3 new 215 ILCS 5/126.4 new 215 ILCS 5/126.5 new 215 ILCS 5/126.6 new 215 ILCS 5/126.7 new 215 ILCS 5/126.8 new 215 ILCS 5/Art. VIII, Part 2 heading new 215 ILCS 5/126.9 new 215 ILCS 5/126.10 new 215 ILCS 5/126.11 new 215 ILCS 5/126.12 new 215 ILCS 5/126.13 new 215 ILCS 5/126.14 new 215 ILCS 5/126.15 new 215 ILCS 5/126.16 new 215 ILCS 5/126.17 new 215 ILCS 5/126.18 new 215 ILCS 5/126.19 new 215 ILCS 5/126.20 new 215 ILCS 5 Art. VII, Part 3 heading new 215 ILCS 5/126.21 new 215 ILCS 5/126.22 new 215 ILCS 5/126.23 new 215 ILCS 5/126.24 new 215 ILCS 5/126.25 new 215 ILCS 5/126.26 new 215 ILCS 5/126.27 new 215 ILCS 5/126.28 new 215 ILCS 5/126.29 new 215 ILCS 5/126.30 new 215 ILCS 5/126.31 new 215 ILCS 5/126.32 new 215 ILCS 5/124 rep. through 125.24a rep. Replaces the title and everything after the enacting clause. Sets forth permissible investment practices for domestic insurance companies. Replaces current Illinois Insurance Code provisions regarding investment practices. Effective immediately. SENATE AMENDMENT NO. 2. Adds reference to: 215 ILCS 5/3.1 from Ch. 73, par. 615.1 215 ILCS 5/26 from Ch. 73, par. 638 215 ILCS 5/53 from Ch. 73, par. 665 215 ILCS 5/74 from Ch. 73, par. 686 215 ILCS 5/111 from Ch. 73, par. 723 215 ILCS 5/131.3 from Ch. 73, par. 743.3 215 ILCS 5/136 from Ch. 73, par. 748 215 ILCS 5/245.21 from Ch. 73, par. 857.21 310 ILCS 20/5 from Ch. 67 1/2, par. 57 315 ILCS 5/19 from Ch. 67 1/2, par. 81 Amends certain Acts to conform cross-references to new Article provisions. Sets forth conditions under which an insurer may engage in replication transactions. Expands the definition of the term "hedging transaction". Makes technical changes. HOUSE AMENDMENT NO. 1. Establishes reserve requirements as the lesser of $250,000,000, rather than $500,000,000, or 100% of loss and expense reserves, premium reserves, and policy and contract reserves. 97-02-07 S FIRST READING 97-02-07 S REFERRED TO SENATE RULES COMMITTEE RULES 97-02-19 S ASSIGNED TO COMMITTEE INS & PENS. 97-03-04 S AMENDMENT NO. 01-INS & PENS. S 97-03-04 S ADOPTED 97-03-04 S DO PASS AS AMENDED 010-000-000 SINS 97-03-04 S PLACED ON CALENDAR ORDER OF 2ND READING 97-03-05 97-03-14 S FILED WITH SECRETARY 97-03-14 S AMENDMENT NO. 02-MADIGAN 97-03-14 S AMENDMENT REFERRED TO SRUL 97-03-17 S AMENDMENT NO. 02-MADIGAN 97-03-17 S RULES REFERS TO SINS 97-03-19 S AMENDMENT NO. 02-MADIGAN 97-03-19 S BE ADOPTED SINS/008-000-000 97-03-19 S SECOND READING 97-03-19 S AMENDMENT NO. 02-MADIGAN 97-03-19 S ADOPTED 97-03-19 S PLACED ON CALENDAR ORDER OF 3RD READING 97-03-20 97-03-20 S THIRD READING - PASSED 056-000-000 97-03-21 H ARRIVE IN HOUSE 97-03-21 H HOUSE SPONSOR BRADY 97-03-21 H FIRST READING 97-03-21 H REFERRED TO HOUSE RULES COMMITTEE RULES 97-04-08 H ASSIGNED TO COMMITTEE INSURANCE 97-04-30 H AMENDMENT NO. 01-INSURANCE H 97-04-30 H ADOPTED 97-04-30 H DO PASS AMENDED/SHORT DEBATE 018-000-000 HINS 97-04-30 H PLACED CALENDAR 2ND READING-SHORT DEBATE 97-05-01 H SECOND READING-SHORT DEBATE 97-05-01 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 97-05-06 H THIRD READING/SHORT DEBATE/PASSED 112-000-000 97-05-07 S SECRETARYS DESK - CONCURRENCE 01 97-05-19 S FILED WITH SECRETARY 97-05-19 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01/MADIGAN 97-05-19 S MOTION REFERRED TO SRUL 97-05-20 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01/MADIGAN 97-05-20 S RULES REFERS TO SINS 97-05-20 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01/MADIGAN 97-05-20 S BE ADOPTED SINS/006-000-000 97-05-20 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01/MADIGAN 97-05-20 S SEN CONCURS IN HSE AMENDMENTS (NO.) 01/056-000-000 97-05-20 S PASSED BOTH HOUSES 97-06-18 S SENT TO THE GOVERNOR 97-08-15 S GOVERNOR APPROVED 97-08-15 S EFFECTIVE DATE 97-08-15 97-08-15 S PUBLIC ACT.............................. 90-0418 END OF INQUIRY Full Text Bill Summary