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90_SB1736
215 ILCS 155/20 from Ch. 73, par. 1420
Amends the Title Insurance Act. Provides that in making
decisions, the Director of Financial Institutions may, rather
than shall, rely upon federal regulations and opinion
letters. Effective immediately.
LRB9009783JSbd
LRB9009783JSbd
1 AN ACT to amend the Title Insurance Act by changing
2 Section 20.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Title Insurance Act is amended by
6 changing Section 20 as follows:
7 (215 ILCS 155/20) (from Ch. 73, par. 1420)
8 Sec. 20. The Director may shall rely upon federal
9 regulations and opinion letters and may adopt rules and
10 regulations as needed to implement and interpret the
11 provisions of this Act.
12 (Source: P.A. 86-239.)
13 Section 99. Effective date. This Act takes effect upon
14 becoming law.