summary
Introduced
02/02/2026
02/02/2026
In Committee
02/06/2026
02/06/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Illinois Insurance Guaranty Fund Article of the Illinois Insurance Code. Provides that certain provisions concerning the purpose of the Article and the Illinois Insurance Guaranty Fund's power to contract with the Office of Special Deputy Receiver are inoperative 5 years after the effective date of the amendatory Act (instead of 5 years after the effective date of Public Act 102-396). Provides that venue in a suit against the Fund arising under the Article shall be in Cook County, and the Fund shall not be required to give any appeal bond in an appeal that relates to a cause of action under the Article. Effective immediately.
AI Summary
This bill amends the Illinois Insurance Guaranty Fund Article of the Illinois Insurance Code to adjust the timeline for certain provisions related to the Fund's purpose and its ability to contract with the Office of Special Deputy Receiver, making them inoperative five years after the effective date of this new legislation rather than five years after a previous amendment. The Office of Special Deputy Receiver is an entity that assists the Director of Insurance in managing the affairs of insolvent insurance companies. Additionally, the bill specifies that any lawsuit against the Illinois Insurance Guaranty Fund concerning this Article must be filed in Cook County, and the Fund will be exempt from providing an appeal bond in any appeal related to a cause of action under this Article. These changes are effective immediately upon becoming law.
Sponsors (1)
Last Action
Referred to Rules Committee (on 02/06/2026)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
Loading...