Lou Lang
- Democratic
Primary
Amends the Illinois Insurance Code. Provides that subject to the restrictions provided in the Article concerning life and health insurers, an insurer may invest in bonds, notes, warrants, and other securities not in default that are the direct obligations of the government of any foreign country that is a member of the Organisation for Economic Co-operation and Development (OECD) and for which the full faith and credit of such government has been pledged for the payment of principal and interest, provided that (i) the debt of the issuing country has been rated as investment grade for at least 10 years immediately before the time of acquiring the obligations by at least 2 of the major ratings agencies, including Moody's Investors Service, Standard & Poor's Rating Services, Fitch Rating, and the Securities Valuation Office of the National Association of Insurance Commissioners and (ii) the issuing country has not defaulted and has met its payment obligations in a timely manner on all similar obligations for a period of at least 30 years immediately before the time of acquiring the obligations.
Public Act . . . . . . . . . 98-0110
Effective Date January 1, 2014
Governor Approved
Sent to the Governor
Third Reading - Passed; 057-000-000
Passed Both Houses
Placed on Calendar Order of 3rd Reading May 8, 2013
Second Reading
Added as Alternate Chief Co-Sponsor Sen. Michael W. Frerichs
Added as Alternate Co-Sponsor Sen. Julie A. Morrison
Placed on Calendar Order of 2nd Reading April 25, 2013
Approved for Consideration Assignments
First Reading
Referred to Assignments
Chief Senate Sponsor Sen. Ira I. Silverstein
Placed on Calendar Order of First Reading April 18, 2013
Third Reading - Short Debate - Passed 118-000-000
Added Co-Sponsor Rep. Robyn Gabel
Added Co-Sponsor Rep. Kelly M. Cassidy
Added Co-Sponsor Rep. Barbara Flynn Currie
Arrive in Senate
Added Chief Co-Sponsor Rep. Laura Fine
Added Chief Co-Sponsor Rep. Jack D. Franks
Placed on Calendar Order of 3rd Reading - Short Debate
House Floor Amendment No. 2 Adopted
Recalled to Second Reading - Short Debate
House Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 004-000-000
House Floor Amendment No. 2 Referred to Rules Committee
House Floor Amendment No. 2 Filed with Clerk by Rep. Lou Lang
Second Reading - Short Debate
Placed on Calendar Order of 3rd Reading - Short Debate
Added Chief Co-Sponsor Rep. Scott Drury
Placed on Calendar 2nd Reading - Short Debate
Do Pass as Amended / Short Debate Insurance Committee; 026-000-000
House Committee Amendment No. 1 Adopted in Insurance Committee; by Voice Vote
House Committee Amendment No. 1 Rules Refers to Insurance Committee
House Committee Amendment No. 1 Filed with Clerk by Rep. Lou Lang
House Committee Amendment No. 1 Referred to Rules Committee
Assigned to Insurance Committee
First Reading
Referred to Rules Committee
Filed with the Clerk by Rep. Lou Lang
| Bill Text Versions | Format |
|---|---|
| Introduced | HTML |
| Engrossed | HTML |
| Enrolled | HTML |
| Document | Format |
|---|---|
| Public Act | |
| House Amendment 002 | |
| House Amendment 001 |
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