WALSH,T. (BRADY) 215 ILCS 5/107.06a from Ch. 73, par. 719.06a 215 ILCS 5/107.07 from Ch. 73, par. 719.07 215 ILCS 5/107.15 from Ch. 73, par. 719.15 215 ILCS 5/179A-5 215 ILCS 5/179A-10 215 ILCS 5/179A-15 215 ILCS 5/179A-20 215 ILCS 5/179A-25 215 ILCS 5/179A-30 215 ILCS 5/179A-35 Amends the Illinois Insurance Code. Authorizes the establishment of special purpose limited syndicates to participate in the securitization of reinsurance risks. Provides for the utilization of non-indemnity triggers with respect to insurance securitization by protected cell companies. Provides that a non-indemnity triggered insurance securitization must comply with the rules issued by the Director of Insurance. Requires insurance securitizations to be fully funded. Prohibits a protected cell from issuing insurance or reinsurance contracts directly to policyholders or reinsureds. Effective immediately. FEB-21-2001 S FIRST READING FEB-21-2001 S REFERRED TO SENATE RULES COMMITTEE RULES FEB-28-2001 S ASSIGNED TO COMMITTEE INS & PENS. MAR-06-2001 S DO PASS 010-000-000 SINS MAR-06-2001 S PLACED ON CALENDAR ORDER OF 2ND READING 01-03-07 MAR-08-2001 S SECOND READING MAR-08-2001 S PLACED ON CALENDAR ORDER OF 3RD READING 01-03-20 MAR-20-2001 S THIRD READING - PASSED 056-000-000 MAR-20-2001 H ARRIVE IN HOUSE MAR-20-2001 H PLACED CALENDAR ORDER OF FIRST READING MAR-23-2001 H HOUSE SPONSOR BRADY MAR-23-2001 H FIRST READING MAR-23-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES APR-03-2001 H ASSIGNED TO COMMITTEE INSURANCE APR-18-2001 H DO PASS/SHORT DEBATE 008-000-000 HINS APR-18-2001 H PLACED CALENDAR 2ND READING-SHORT DEBATE APR-18-2001 H SECOND READING-SHORT DEBATE APR-18-2001 H PLCD CAL ORDER 3RD READING-SHORT DEBATE APR-19-2001 H THIRD READING/SHORT DEBATE/PASSED 113-000-000 APR-19-2001 S PASSED BOTH HOUSES MAY-23-2001 S SENT TO THE GOVERNOR JUL-12-2001 S GOVERNOR APPROVED JUL-12-2001 S EFFECTIVE DATE 01-07-12 JUL-12-2001 S PUBLIC ACT.............................. 92-0074 END OF INQUIRY Full Text Bill Summary