Public Act 096-0334
SB1632 Enrolled LRB096 07716 RPM 17817 b

    AN ACT concerning insurance.
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
    Section 5. The Illinois Insurance Code is amended by
changing Section 451 as follows:
    (215 ILCS 5/451)  (from Ch. 73, par. 1063)
    Sec. 451. Companies not subject to code.
    This Code shall not apply to companies now or hereafter
organized or transacting business under the Title Insurance Act
an Act entitled "An Act to provide for and regulate the
business of guaranteeing titles to real estate by
corporations," approved May 13, 1901, or Act amendatory
thereof, or supplementary thereto, or in replacement thereof;
nor to corporations now or hereafter organized and transacting
business under "An Act to provide for the incorporation and
regulation of nonprofit hospital service corporations"
approved July 6, 1935, or Act act amendatory thereof or
supplementary thereto; nor shall any part of this Code other
than Articles articles X, XI, XIII, and XXIV apply to companies
now or hereafter organized or transacting business under an Act
entitled, "An Act relating to local mutual district, county and
township insurance companies," approved March 13, 1936, or Act
amendatory thereof or supplementary thereto. No domestic
company shall be organized under this Code, nor shall any
foreign or alien company receive a certificate of authority
under this Code, to transact the business of title insurance
guaranteeing or insuring titles to real estate. The changes
made to this Section by this amendatory Act of the 96th General
Assembly is a statement and clarification of existing law.
(Source: Laws 1937, p. 696.)

Effective Date: 1/1/2010