IL HB5217 | 2009-2010 | 96th General Assembly
Status
Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Passed on August 20 2010 - 100% progression
Action: 2010-08-20 - Public Act . . . . . . . . . 96-1450
Text: Latest bill text (Enrolled) [HTML]
Spectrum: Bipartisan Bill
Status: Passed on August 20 2010 - 100% progression
Action: 2010-08-20 - Public Act . . . . . . . . . 96-1450
Text: Latest bill text (Enrolled) [HTML]
Summary
Amends the Illinois Insurance Code. Sets forth definitions of "netting agreement" and "qualified financial contract". Sets forth the conditions under which no person shall be stayed or prohibited from exercising contractual rights concerning netting agreements and qualified financial contracts. Provides that upon termination of a netting agreement or qualified financial contract, the net or settlement amount owed by a nondefaulting party to an insurer against which an application or petition has been filed shall be transferred to or on the order of the receiver for the insurer. Sets forth provisions that shall apply concerning disaffirmance and repudiation. Sets forth requirements concerning proof and allowance of claims. Provides that the Article concerning life and health insurance guaranty associations in the Code shall provide coverage for certain policies and contracts (1) to certain persons who are owners or certificate holders, (2) for certain unallocated annuity contracts, and (3) for certain structured settlement annuities. Sets forth the conditions under which the provisions of the Article shall not apply. Makes changes in a provision concerning definitions. Provides that the life insurance and annuity account that the Illinois Life and Health Insurance Guaranty Association must maintain shall include an annuity account, which shall include annuity contracts owned by a governmental retirement plan and unallocated annuity account, which shall exclude contracts owned by a governmental retirement benefit plan. Makes changes in the provisions concerning the Association's board of directors, powers and duties, assessments, and operations. Amends the Health Maintenance Organization Act to make changes concerning the Association's powers, duties, operations, and immunity. Makes other changes. Effective immediately.
Title
INS CD-INSOLVENCY
Sponsors
| Rep. Patricia Bellock [R] | Rep. Monique Davis [D] | Rep. David Leitch [R] | Rep. Frank Mautino [D] |
| Rep. JoAnn Osmond [R] |
Roll Calls
2010-05-26 - House - Concurrence in House (Y: 112 N: 0 NV: 2 Abs: 0) [PASS]
2010-05-04 - Senate - Third Reading in Senate (Y: 58 N: 0 NV: 1 Abs: 0) [PASS]
2010-03-12 - House - Third Reading in House (Y: 109 N: 0 NV: 2 Abs: 0) [PASS]
2010-05-04 - Senate - Third Reading in Senate (Y: 58 N: 0 NV: 1 Abs: 0) [PASS]
2010-03-12 - House - Third Reading in House (Y: 109 N: 0 NV: 2 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2010-08-20 | Public Act . . . . . . . . . 96-1450 | |
| 2010-08-20 | Effective Date August 20, 2010 | |
| 2010-08-20 | Governor Approved | |
| 2010-06-24 | Sent to the Governor | |
| 2010-05-26 | Passed Both Houses | |
| 2010-05-26 | Senate Floor Amendment No. 2 House Concurs 112-000-000 | |
| 2010-05-26 | Senate Floor Amendment No. 1 House Concurs 112-000-000 | |
| 2010-05-07 | Senate Floor Amendment No. 2 Motion to Concur Recommends Be Adopted Insurance Committee; 016-000-000; MOTION #2 | |
| 2010-05-07 | Senate Floor Amendment No. 1 Motion to Concur Recommends Be Adopted Insurance Committee; 016-000-000; MOTION #1 | |
| 2010-05-06 | Senate Floor Amendment No. 2 Motion to Concur Rules Referred to Insurance Committee; MOTION #2 | |
| 2010-05-06 | Senate Floor Amendment No. 1 Motion to Concur Rules Referred to Insurance Committee; MOTION #1 | |
| 2010-05-04 | Senate Floor Amendment No. 2 Motion to Concur Referred to Rules Committee; MOTION #2 | |
| 2010-05-04 | Senate Floor Amendment No. 1 Motion to Concur Referred to Rules Committee; MOTION #1 | |
| 2010-05-04 | Senate Floor Amendment No. 2 Motion Filed Concur Rep. Frank J. Mautino; MOTION #2 | |
| 2010-05-04 | Senate Floor Amendment No. 1 Motion Filed Concur Rep. Frank J. Mautino; MOTION #1 | |
| 2010-05-04 | Placed on Calendar Order of Concurrence Senate Amendment(s) 1, 2 | |
| 2010-05-04 | Arrived in House | |
| 2010-05-04 | Third Reading - Passed; 058-000-001 | |
| 2010-05-04 | Placed on Calendar Order of 3rd Reading | |
| 2010-05-04 | Senate Floor Amendment No. 2 Adopted; Haine | |
| 2010-05-04 | Senate Floor Amendment No. 1 Adopted; Haine | |
| 2010-05-04 | Recalled to Second Reading | |
| 2010-04-29 | Senate Floor Amendment No. 2 Recommend Do Adopt Insurance; 007-000-000 | |
| 2010-04-29 | Senate Floor Amendment No. 1 Recommend Do Adopt Insurance; 007-000-000 | |
| 2010-04-28 | Senate Floor Amendment No. 2 Assignments Refers to Insurance | |
| 2010-04-27 | Senate Floor Amendment No. 2 Referred to Assignments | |
| 2010-04-27 | Senate Floor Amendment No. 2 Filed with Secretary by Sen. William R. Haine | |
| 2010-04-23 | Placed on Calendar Order of 3rd Reading April 27, 2010 | |
| 2010-04-23 | Second Reading | |
| 2010-04-22 | Senate Floor Amendment No. 1 Assignments Refers to Insurance | |
| 2010-04-21 | Senate Floor Amendment No. 1 Referred to Assignments | |
| 2010-04-21 | Senate Floor Amendment No. 1 Filed with Secretary by Sen. William R. Haine | |
| 2010-04-21 | Placed on Calendar Order of 2nd Reading April 22, 2010 | |
| 2010-04-21 | Do Pass Insurance; 010-000-000 | |
| 2010-04-15 | Postponed - Insurance | |
| 2010-04-06 | Assigned to Insurance | |
| 2010-03-15 | Referred to Assignments | |
| 2010-03-15 | First Reading | |
| 2010-03-15 | Chief Senate Sponsor Sen. William R. Haine | |
| 2010-03-12 | Placed on Calendar Order of First Reading March 15, 2010 | |
| 2010-03-12 | Arrive in Senate | |
| 2010-03-12 | Added Chief Co-Sponsor Rep. Patricia R. Bellock | |
| 2010-03-12 | Third Reading - Short Debate - Passed 109-000-001 | |
| 2010-03-11 | Added Chief Co-Sponsor Rep. David R. Leitch | |
| 2010-03-10 | Placed on Calendar Order of 3rd Reading - Short Debate | |
| 2010-03-10 | Second Reading - Short Debate | |
| 2010-03-09 | Placed on Calendar 2nd Reading - Short Debate | |
| 2010-03-09 | Do Pass / Short Debate Insurance Committee; 022-000-000 | |
| 2010-03-09 | Suspend Rule 25 - Prevailed | |
| 2010-03-09 | Moved to Suspend Rule 25 Rep. Barbara Flynn Currie | |
| 2010-03-09 | Added Chief Co-Sponsor Rep. Monique D. Davis | |
| 2010-03-08 | Assigned to Insurance Committee | |
| 2010-02-03 | Referred to Rules Committee | |
| 2010-02-03 | First Reading | |
| 2010-02-03 | Added Chief Co-Sponsor Rep. JoAnn D. Osmond | |
| 2010-02-03 | Filed with the Clerk by Rep. Frank J. Mautino |
