GEO-KARIS-O'MALLEY. (RYDER-OSMOND) 215 ILCS 155/4 from Ch. 73, par. 1404 215 ILCS 155/5 from Ch. 73, par. 1405 215 ILCS 155/9 from Ch. 73, par. 1409 215 ILCS 155/11 from Ch. 73, par. 1411 215 ILCS 155/12 from Ch. 73, par. 1412 215 ILCS 155/13 from Ch. 73, par. 1413 215 ILCS 155/14 from Ch. 73, par. 1414 215 ILCS 155/16 from Ch. 73, par. 1416 215 ILCS 155/17 from Ch. 73, par. 1417 215 ILCS 155/21 from Ch. 73, par. 1421 215 ILCS 155/21.1 new 215 ILCS 155/23 from Ch. 73, par. 1423 Amends the Title Insurance Act. Increases the surety bond required before a company may transact a title insurance business. Increases penalties for transacting business with impaired capital. Increases maximum annual fees. Authorizes the Director of Financial Institutions to impose fines for violations of the Act. Establishes procedures for the liquidation and receivership of title insurers. Sets forth powers of the Director and receiver and establishes priority of claims. Effective January 1, 2002. HOUSE AMENDMENT NO. 1. Adds reference to: 215 ILCS 155/6 from Ch. 73, par. 1406 215 ILCS 155/21.2 new 215 ILCS 155/21.3 new 215 ILCS 155/25 from Ch. 73, par. 1425 Replaces everything after the enacting clause. Reinserts the bill substantially as introduced. Increases the deposit and bond requirements. Requires a title insurer to retain a portion of the primary liability on policies it issues. Provides that title insurers must share liability for claims arising out of certain acts of their agents. Establishes the manner of giving notice under the Act. Requires insurers to retain records for at least 5 years. Authorizes the Director of Financial Institutions to impose civil penalties for violations. Provides that intentional violations of the Act are petty offenses rather than business offenses. Effective January 1, 2002. HOUSE AMENDMENT NO. 2. Provides that the amount of annual license fees shall be based upon the number of policies insuring title to real estate in this State issued by a company or any of its agents. Provides that certain fees are to be collected from the person purchasing the title insurance policy. HOUSE AMENDMENT NO. 3. Provides that the $1.25 per policy fee shall be remitted to the Department of Financial Institutions beginning April 1, 2003 rather than April 1, 2002. FEB-21-2001 S FIRST READING FEB-21-2001 S REFERRED TO SENATE RULES COMMITTEE RULES FEB-28-2001 S ASSIGNED TO COMMITTEE JUDICIARY MAR-07-2001 S DO PASS 010-000-001 SJUD MAR-07-2001 S PLACED ON CALENDAR ORDER OF 2ND READING 01-03-08 MAR-30-2001 S SECOND READING MAR-30-2001 S PLACED ON CALENDAR ORDER OF 3RD READING 01-04-02 APR-03-2001 S THIRD READING - PASSED 052-000-002 APR-03-2001 H ARRIVE IN HOUSE APR-03-2001 H HOUSE SPONSOR TENHOUSE APR-03-2001 H PLACED CALENDAR ORDER OF FIRST READING APR-04-2001 H FIRST READING APR-04-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES APR-04-2001 H ALTERNATE PRIMARY SPONSOR CHANGED TO RYDER APR-04-2001 H ADDED AS A JOINT SPONSOR OSMOND APR-06-2001 H ASSIGNED TO COMMITTEE JUD-CIVIL LAW APR-18-2001 H RE-ASSIGNED TO COMMITTEE EXECUTIVE MAY-03-2001 H AMENDMENT NO. 01-EXECUTIVE H MAY-03-2001 H ADOPTED MAY-03-2001 H AMENDMENT NO. 02-EXECUTIVE H MAY-03-2001 H ADOPTED MAY-03-2001 H DO PASS AMENDED/SHORT DEBATE 013-000-000 HEXC MAY-03-2001 H PLACED CALENDAR 2ND READING-SHORT DEBATE MAY-08-2001 H AMENDMENT NO. 03-RYDER MAY-08-2001 H AMENDMENT REFERRED TO HRUL MAY-08-2001 H CALENDAR ORDER 2ND READING-SHORT DEBATE MAY-09-2001 H AMENDMENT NO. 03-RYDER MAY-09-2001 H RECOMMENDS BE ADOPTED HRUL/003-000-000 MAY-09-2001 H CALENDAR ORDER 2ND READING-SHORT DEBATE MAY-16-2001 H SECOND READING-SHORT DEBATE MAY-16-2001 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE MAY-18-2001 H 3RD RDG. DEADLINE EXTENDED-RULE 9(B)- MAY 25, 2001 MAY-18-2001 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE MAY-21-2001 H AMENDMENT NO. 03-RYDER MAY-21-2001 H ADOPTED MAY-21-2001 H PLCD CAL ORDER 3RD READING-SHORT DEBATE MAY-23-2001 H THIRD READING/SHORT DEBATE/PASSED 065-042-007 MAY-23-2001 S SECRETARYS DESK - CONCURRENCE 01,02,03 MAY-24-2001 S FILED WITH SECRETARY MAY-24-2001 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01,02,03/GEO-KARIS MAY-24-2001 S MOTION REFERRED TO SRUL MAY-24-2001 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01,02,03/GEO-KARIS MAY-24-2001 S RULES REFERS TO SJUD MAY-25-2001 S FILED WITH SECRETARY MAY-25-2001 S MOTION NON-CONCUR - HOUSE AMENDMENT NO 01,02,03/GEO-KARIS MAY-25-2001 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01,03/GEO-KARIS MAY-25-2001 S BE APPROVED FOR CONSIDERATION SJUD/007-000-001 MAY-25-2001 S MOTION TO CONCUR - HOUSE AMENDMENT NO 02/GEO-KARIS MAY-25-2001 S HELD IN COMMITTEE SJUD MAY-29-2001 S MOTION NON-CONCUR - HOUSE AMENDMENT NO 01,02,03/GEO-KARIS MAY-29-2001 S SEN NON-CONCURS IN HSE AMENDMENTS (NO.) 01,02,03 MAY-29-2001 H ARRIVE IN HOUSE MAY-29-2001 H PLACED CALENDAR ORDER NON-CONCURRENCE 01,02,03 MAY-31-2001 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL JAN-07-2003 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary