92nd General Assembly
Summary of HB2995
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House Sponsors:
PARKE.

Short description: 
UNIFORM INSURANCE RECEIVERSHIP                                             

Synopsis of Bill as introduced:
        Creates the Interstate Compact Uniform Receivership Law. This Act      
   replaces Article XIII and Article XIII 1/2 of the  Illinois  Insurance      
   Code and provides for the supervision, rehabilitation, and liquidation      
   of insurance companies in a uniform manner among states that adopt the      
   Interstate  Compact  Uniform Receivership Law.  The Interstate Compact      
   Uniform  Receivership  Law  provides  for  regulation   of   insolvent      
   insurance companies in the manner proposed by the Interstate Insurance      
   Receivership   Commission   created  under  the  Interstate  Insurance      
   Receivership Compact.  Amends various  insurance  regulatory  Acts  to      
   make  conforming  changes.   Effective  January  1,  2002  or the date      
   substantially identical provisions are adopted by  all  of  the  other      
   states   that  currently  are  members  of  the  Interstate  Insurance      
   Receivership Compact.                                                       
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



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