Illinois Senate Bill 3264 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 2-0)
Status: Failed on January 13 2015 - 100% progression
Action: 2015-01-13 - Session Sine Die
Text: Latest bill text (Engrossed) [HTML]

Amends the Business Corporation Act of 1983. Provides that upon a corporate dissolution any policy of liability insurance covering acts and omissions of the dissolved corporation committed during the corporation's existence shall be held in trust for the benefit of any injured party. Provides that any policy shall be held in trust for as long as there is unexhausted coverage applicable to acts or omissions of the corporation. Modifies the time within which an action may be brought when unexhausted liability coverage is in effect. Effective immediately.

CORP DISSOLUTION LIABILITY INS

Sen. William Haine [D]

Rep. Arthur Turner [D]

2014-04-08 - Senate - Third Reading in Senate (Y: 41 N: 12 NV: 6 Abs: 0) [PASS]

Date	Chamber	Action
2015-01-13	Senate	Session Sine Die
2014-04-09	House	Referred to Rules Committee
2014-04-09	House	First Reading
2014-04-09	House	Chief House Sponsor Rep. Arthur Turner
2014-04-09	House	Arrived in House
2014-04-08	Senate	Third Reading - Passed; 041-012-000
2014-04-07	Senate	Placed on Calendar Order of 3rd Reading April 8, 2014
2014-04-07	Senate	Second Reading
2014-03-27	Senate	Placed on Calendar Order of 2nd Reading April 1, 2014
2014-03-27	Senate	Do Pass as Amended Insurance; 008-004-000
2014-03-26	Senate	Senate Committee Amendment No. 1 Adopted
2014-03-25	Senate	Senate Committee Amendment No. 1 Assignments Refers to Insurance
2014-03-21	Senate	Senate Committee Amendment No. 1 Referred to Assignments
2014-03-21	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. William R. Haine
2014-03-21	Senate	Postponed - Insurance
2014-02-25	Senate	Assigned to Insurance
2014-02-14	Senate	Referred to Assignments
2014-02-14	Senate	First Reading
2014-02-14	Senate	Filed with Secretary by Sen. William R. Haine

Chapter	Article	Section	Citation Type	Statute Text
805	5	12.30	Amended Code	Citation Text
805	5	12.80	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3264&GAID=12&DocTypeID=SB&SessionID=85&GA=98
Text	https://www.ilga.gov/legislation/98/SB/09800SB3264.htm
Text	https://www.ilga.gov/legislation/98/SB/09800SB3264sam001.htm
Text	https://www.ilga.gov/legislation/98/SB/09800SB3264eng.htm
Roll Call	https://www.ilga.gov/legislation/votehistory/98/senate/09800SB3264_04082014_025000T.pdf