Public Act 096-0274
 		





HB2351 Enrolled
LRB096 07234 AJO 17320 b






    AN ACT concerning civil law.

 
    Be it enacted by the People of the State of Illinois,
 
represented in the General Assembly:


 
    Section 5. The Registered Titles (Torrens) Act is amended  
by changing Section 102.1 as follows:
 



    (765 ILCS 35/102.1)



    Sec. 102.1. Excess funds. 

    (a) The county board may determine that monies in excess of 
the funds
necessary to satisfy judgments obtained or claims 
allowed against the indemnity
fund
exist in the indemnity fund.  
In determining whether an excess of
monies exists, the county 
shall seek such input and gather such information as
is 
necessary to assist the county in making the determination.  The 
input and
information shall include an actuarial study, or such 
other studies, input, or
data the county deems appropriate, 
whether undertaken at the direction of the
county or by third 
parties in connection with the bidding for or offering of

insurance to cover the county's obligations under this
Act.  If 
the county incurs any expense in gathering the information,

including the actuarial study, the costs shall be paid from the

indemnity fund.

    (b) The county may purchase private insurance to meet the 
county's
obligations under this Act.  If the county does

purchase such insurance, the cost of the insurance shall be 
paid out of the
indemnity fund.

    (c) If the county determines that an excess of monies 
exists in the
indemnity fund, the county may transfer the 
excess monies to a lead poisoning
prevention fund, and may 
expend the monies in accordance with the provisions
of Section 
102.2 of this Act.
The county may also transfer and expend 
excess indemnity fund monies for the
benefit of
owners of real 
property in the county as the county deems appropriate, 
provided
that at least 50% of the aggregate of monies that have 
been deemed to be excess
monies have been transferred to the 
lead poisoning prevention fund.  The county
may not expend any 
excess indemnity fund monies for any purpose other than lead

poisoning prevention until it has first designed, implemented, 
and started
making loan or grant payments under the lead 
poisoning prevention program
as provided in Section 102.2.

    (d) Upon the statutory expiration of all potential 
indemnity fund
claims, any monies remaining in the indemnity 
fund shall be deemed to be excess
monies and shall be expended 
in accordance with the provisions of this
Section.

    (e) This amendatory Act of the 96th General Assembly does 
not preempt, rescind, modify, or revise any local, State, or 
federal laws or rules governing lead paint mitigation or 
abatement or lead poisoning prevention. 
(Source: P.A. 90-778, eff. 8-14-98.)

 

    Section 99. Effective date. This Act takes effect upon 
becoming law.