MADIGAN,R. (MYERS,RICHARD) 215 ILCS 5/107.02 from Ch. 73, par. 719.02 215 ILCS 5/107.15a from Ch. 73, par. 719.15a 215 ILCS 5/107.15b 215 ILCS 5/107.17 from Ch. 73, par. 719.17 215 ILCS 5/107.21 from Ch. 73, par. 719.21 215 ILCS 5/107.26 from Ch. 73, par. 719.26 215 ILCS 5/107.29 Amends the Illinois Insurance Code in relation to insurance exchanges. Provides authority to establish a privately owned exchange for the reinsurance and insurance of risks. Removes the statutory creation of an insurance exchange. Provides that any insurance exchange created is separate and distinct from the State. Authorizes the creation of a guaranty mechanism for protection of policyholders. Provides for at least 5, rather than 5, public trustees for an exchange. Authorizes the establishment of a privately owned immediate access security association separate from the State to manage liquidations of insurance syndicates. Removes the statutory creation of that association. Effective immediately. 00-02-02 S FIRST READING 00-02-02 S REFERRED TO SENATE RULES COMMITTEE RULES 00-02-09 S ASSIGNED TO COMMITTEE INS & PENS. 00-02-15 S DO PASS 008-000-000 SINS 00-02-15 S PLACED ON CALENDAR ORDER OF 2ND READING 00-02-16 00-02-16 S SECOND READING 00-02-16 S PLACED ON CALENDAR ORDER OF 3RD READING 00-02-17 00-02-23 S THIRD READING - PASSED 058-000-000 00-02-23 H ARRIVE IN HOUSE 00-02-23 H PLACED CALENDAR ORDER OF FIRST READING 00-02-29 H HOUSE SPONSOR DANIELS 00-02-29 H FIRST READING 00-02-29 H REFERRED TO HOUSE RULES COMMITTEE RULES 00-03-01 H ALTERNATE PRIMARY SPONSOR CHANGED TO MYERS,RICHARD 00-03-09 H ASSIGNED TO COMMITTEE INSURANCE 00-03-23 H DO PASS/SHORT DEBATE 012-000-000 HINS 00-03-23 H PLACED CALENDAR 2ND READING-SHORT DEBATE 00-03-24 H SECOND READING-SHORT DEBATE 00-03-24 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 00-04-04 H THIRD READING/SHORT DEBATE/PASSED 117-000-000 00-04-04 S PASSED BOTH HOUSES 00-05-03 S SENT TO THE GOVERNOR 00-06-09 S GOVERNOR APPROVED 00-06-09 S EFFECTIVE DATE 00-06-09 00-06-09 S PUBLIC ACT.............................. 91-0796 END OF INQUIRY Full Text Bill Summary