Frank J. Mautino
- Democratic
Primary
Amends the Illinois Insurance Code. Requires member companies of the Illinois Insurance Guaranty Fund to recoup over a reasonable length of time a sum reasonably calculated to recoup assessments paid by the member company by way of surcharges, to be determined by the Fund, on premiums charged for insurance policies. Requires that the surcharge must be separately stated on the policy declaration statement, schedule, or endorsement. Allows the Fund to permit member companies to omit collection of the surcharge if the expense of collection exceeds the amount of the surcharge. Effective immediately.
No votes to display
Session Sine Die
Rule 19(a) / Re-referred to Rules Committee
Assigned to Executive Committee
Filed with the Clerk by Rep. Frank J. Mautino
First Reading
Referred to Rules Committee
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