Bill Text: IL SB0477 | 2015-2016 | 99th General Assembly | Introduced

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Bill Title: Amends the Illinois Insurance Code. Makes a technical change in a Section concerning the purpose of the Article regarding nonprofit risk organizations.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2015-04-21 - Re-referred to Assignments [SB0477 Detail]

Download: Illinois-2015-SB0477-Introduced.html

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99TH GENERAL ASSEMBLY State of Illinois 2015 and 2016 SB0477 Introduced 1/28/2015, by Sen. John J. Cullerton SYNOPSIS AS INTRODUCED:
215 ILCS 5/123D-1
Amends the Illinois Insurance Code. Makes a technical change in a Section concerning the purpose of the Article regarding nonprofit risk organizations.
LRB099 03190 MLM 23198 b
A BILL FOR
SB0477 LRB099 03190 MLM 23198 b
AN ACT concerning regulation.
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 123D-1 as follows:
(215 ILCS 5/123D-1)
Sec. 123D-1. Purpose; construction. The The purpose of this
Article is to provide for the organization of and issuance of a
certificate of authority to nonprofit risk organizations that
insure nonprofit organizations and that will qualify, and
continue to qualify, as a qualified charitable risk pool, as
defined in subsection (n) of Section 501 of the Internal
Revenue Code.
(Source: P.A. 93-918, eff. 1-1-05.)