Sen. William R. Haine
Filed: 3/27/2009
 
 

 




 

 		












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AMENDMENT TO SENATE BILL 2091 




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    AMENDMENT NO. ______. Amend Senate Bill 2091, AS AMENDED, 
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with reference to page and line numbers of Senate Amendment No. 
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1 as follows:


 
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on page 7, line 15, by replacing "offers" with "offers, 
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solicits, promotes,"; and
 
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by replacing line 26 on page 7 through line 1 on page 8 with the 
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following:
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"settlement provider establishing the terms under which"; and
 
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on page 19, by replacing line 12 through line 15 with the 
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following:
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    "(o) Viatical settlement providers licensed under the 
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Viatical Settlements Act shall be subject to the license 
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requirements of this Act.  Not later than 30 days after the 
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effective date of this Act, such licensee shall submit the 
 


 






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additional materials or information required for licensure 
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under this Act but not previously required under the Viatical 
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Settlements Act.  To the extent that this Act requires materials 
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or information for licensure previously submitted by the 
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licensee pursuant to the Viatical Settlements Act, those 
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materials need not be resubmitted with the initial application 
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for licensure pursuant to this Act."; and
 
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on page 20, by replacing line 6 through line 7 with the 
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following:
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"set forth in subsection (b) of this Section, within 6 months 
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after the effective date of this Act or within 6 months after 
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availability of training course, whichever is later."; and
 
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on page 20, line 19, by replacing "6" with "4"; and
 
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on page 21, line 13, by replacing "Vital" with "Viatical"; and
 
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on page 21, by replacing line 25 with the following:
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"viatical settlement brokers with whom the provider contracts 
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or otherwise engages in viatical settlement transactions. 
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These"; and
 
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on page 24, line 14, by replacing "Code." with "Code, in 
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addition to any monetary or criminal penalties as may be 
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appropriate."; and
 
 


 






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on page 28, by replacing line 13 with the following:
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"provider or the viatical settlement provider's authorized"; 
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and
 
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on page 45, line 4, by replacing "viatical settlement broker," 
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with "escrow agent,"; and
 
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on page 47, line 10, by replacing "provider" with "provider, 
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viatical settlement broker, viator, or applicant for a policy"; 
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and
 
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on page 50, line 5, by replacing "(c)" with "(b)"; and
 
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on page 55, by deleting line 2 through line 5; and
 
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on page 55, line 6, by replacing "(c)" with "(b)"; and
 
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on page 55, line 16, by replacing "60" with "24"; and
 
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on page 55, line 23, by replacing "5-year" with "2-year"; and
 
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by deleting line 19 on page 56 through line 10 on page 57; and
 
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on page 57, line 11, by replacing "(d)" with "(c)"; and
 
 


 






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on page 57, line 12, by replacing "(c)" with "(b)"; and
 
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on page 57, line 21, by replacing "(e)" with "(d)"; and
 
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on page 57, line 24, by replacing "(c)" with "(b)"; and
 
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on page 58, line 5, by replacing "(f)" with "(e)"; and
 
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on page 58, line 11, by replacing "(g)" with "(f)"; and
 
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by deleting line 15 on page 60 through line 5 on page 61; and
 
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on page 61, line 6, by replacing "(g)" with "(f)"; and
 
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on page 61, line 6, by replacing "return" with "retain"; and
 
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on page 61, line 15, by replacing "(h)" with "(g)"; and
 
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on page 78 line 2 by replacing "practice or plan" with "act, 
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practice, or arrangement"; and
 
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on page 82, line 5, after "Director.", by inserting "To the 
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extent that an individual or entity is exempted pursuant to 
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this Section and is then later determined to have been engaged 
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in STOLI and to have circumvented the application of this Act 
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through this Section, the Director shall take appropriate 
 


 






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remedial action, including, but not limited to, license 
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revocation, appropriate monetary, or both or other penalties as 
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provided in Section 72 of this Act and subsections  (a) through 
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(g) of Section 500-70 the Illinois Insurance Code.".