92nd General Assembly
Status of HB2556
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   215 ILCS 5/10             from Ch. 73, par. 622                             
   215 ILCS 5/40             from Ch. 73, par. 652                             
   215 ILCS 5/131.20a        from Ch. 73, par. 743.20a                         
   215 ILCS 5/131.20b new                                                      
   215 ILCS 5/187            from Ch. 73, par. 799                             
   215 ILCS 5/188            from Ch. 73, par. 800                             
   215 ILCS 125/2-10 new                                                       
   215 ILCS 125/3-1          from Ch. 111 1/2, par. 1407.3                     

        Amends the Illinois Insurance Code  and  the  Health  Maintenance      
   Organization  Act.   Provides that after June 30, 2002 at least 20% of      
   the directors shall not be officers or employees of  the  company  for      
   which  they  serve as director.  Restricts financial transactions of a      
   domestic company when the company is not eligible  to  pay  dividends.      
   Provides  that  the  Director of Insurance may seek to be appointed as      
   receiver if any company is engaging in any aspect of the  business  of      
   insurance  in  a  manner detrimental to the interests of policyholders      
   and other parties.  Restricts financial transactions between a  health      
   maintenance organization and its directors.  Effective immediately.         
        HOUSE AMENDMENT NO. 1.                                                 
        Provides that the requirement that one-third of the directors  of      
   an insurer be persons who are not officers or employees of the insurer      
   does  not  apply to insurers that are controlled directly or through a      
   subsidiary by an entity that has at least one-third of  its  directors      
   who are not officers or employees.                                          
        HOUSE AMENDMENT NO. 2.                                                 
        Provides that the outside director requirement does not apply  to      
   domestic  insurers controlled by an entity whose securities are listed      
   on the New York Stock Exchange.                                             
   FEB-26-2001  H  FILED WITH CLERK                                               
   FEB-27-2001  H  FIRST READING                                                  
   FEB-27-2001  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   FEB-28-2001  H       ASSIGNED TO COMMITTEE               INSURANCE             
   FEB-28-2001  H  ADDED AS A JOINT SPONSOR                 MAUTINO               
   FEB-28-2001  H  ADDED AS A JOINT SPONSOR                 O'CONNOR              
   FEB-28-2001  H  ADDED AS A JOINT SPONSOR                 YARBROUGH             
   FEB-28-2001  H  ADDED AS A JOINT SPONSOR                 KOSEL                 
   MAR-07-2001  H                             AMENDMENT NO. 01-INSURANCE     H    
   MAR-07-2001  H                                   ADOPTED                       
   MAR-07-2001  H  DO PASS AMENDED/SHORT DEBATE             013-000-000   HINS    
   MAR-07-2001  H  PLACED CALENDAR 2ND READING-SHORT DEBATE                       
   MAR-20-2001  H                             AMENDMENT NO. 02-OSMOND             
   MAR-20-2001  H                     AMENDMENT REFERRED TO HRUL                  
   MAR-20-2001  H  CALENDAR ORDER 2ND READING-SHORT DEBATE                        
   MAR-21-2001  H                             AMENDMENT NO. 02-OSMOND             
   MAR-21-2001  H  RECOMMENDS BE ADOPTED                    HRUL/005-000-000      
   MAR-21-2001  H  SECOND READING-SHORT DEBATE                                    
   MAR-21-2001  H                             AMENDMENT NO. 02-OSMOND             
   MAR-21-2001  H                                   ADOPTED                       
   MAR-21-2001  H  PLCD CAL ORDER 3RD READING-SHORT DEBATE                        
   MAR-22-2001  H  THIRD READING/SHORT DEBATE/PASSED        112-000-000           
   MAR-22-2001  S  ARRIVE IN SENATE                                               
   MAR-22-2001  S  PLACED CALENDAR ORDER OF FIRST READING   01-03-27              
   MAR-26-2001  S  CHIEF SPONSOR                            SIEBEN                
   MAR-27-2001  S  FIRST READING                                                  
   MAR-27-2001  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   APR-06-2001  S       ASSIGNED TO COMMITTEE               INS & PENS.           
   APR-24-2001  S       DO PASS                             009-000-000   SINS    
   APR-24-2001  S  PLACED ON CALENDAR ORDER OF 2ND READING  01-04-25              
   MAY-02-2001  S  SECOND READING                                                 
   MAY-02-2001  S  PLACED ON CALENDAR ORDER OF 3RD READING  01-05-03              
   MAY-03-2001  S  THIRD READING - PASSED                   056-000-000           
   MAY-03-2001  H  PASSED BOTH HOUSES                                             
   JUN-01-2001  H  SENT TO THE GOVERNOR                                           
   JUL-24-2001  H  GOVERNOR APPROVED                                              
   JUL-24-2001  H                            EFFECTIVE DATE 01-07-24              
   JUL-24-2001  H  PUBLIC ACT.............................. 92-0140               


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