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92_HB2993ham001
LRB9201507JStmam
1 AMENDMENT TO HOUSE BILL 2993
2 AMENDMENT NO. . Amend House Bill 2993 by replacing
3 the title with the following:
4 "AN ACT in relation to insurance."; and
5 by replacing everything after the enacting clause with the
6 following:
7 "Section 5. The Illinois Insurance Code is amended by
8 changing Section 41 as follows:
9 (215 ILCS 5/41) (from Ch. 73, par. 653)
10 Sec. 41. Executive committee. If the by-laws so provide,
11 the board of directors or trustees, by a resolution adopted
12 by a majority of the whole board, may designate 3 three or
13 more of their number to constitute an executive committee,
14 which committee shall, to the extent provided in the
15 resolution or in the by-laws, have and exercise, during the
16 interim between the meetings of the board, all of the
17 authority of the board in the management of the company, but
18 the designation of such committee shall not relieve the board
19 or any member thereof of any responsibility imposed by law.
20 (Source: Laws 1937, p. 696.)".