Creates the Unclaimed Life Insurance Benefits Act. Provides that the purpose of the Act is to require all authorized insurers regulated by the Department of Insurance to undertake good faith efforts, as specified in the Act, to locate and pay beneficiaries' proceeds under unclaimed life insurance policies, annuity contracts, and retained asset accounts issued in the State or remit such proceeds as unclaimed property to the appropriate jurisdiction if the beneficiaries are unable to be located or paid. Requires insurers to implement the certain policies and procedures for performing a comparison of its policies, annuity contracts, and retained asset accounts against the United States Social Security Administration's Death Master File. Provides that failure to meet any requirement of the Act is an unfair trade practice under the Illinois Insurance Code, and amends the Illinois Insurance Code to make a corresponding change.
Governor Approved
Public Act . . . . . . . . . 99-0893
Effective Date January 1, 2017
Sent to the Governor
Senate Committee Amendment No. 1 House Concurs 118-000-000
Senate Committee Amendment No. 1 Motion to Concur Recommends Be Adopted Consumer Protection Committee; 015-000-000
Added Co-Sponsor Rep. Frances Ann Hurley
Passed Both Houses
Added as Alternate Co-Sponsor Sen. Thomas Cullerton
House Concurs
Senate Committee Amendment No. 1 Motion Filed Concur Rep. Robert Martwick
Senate Committee Amendment No. 1 Motion to Concur Rules Referred to Consumer Protection Committee
Senate Committee Amendment No. 1 Motion to Concur Referred to Rules Committee
Added as Alternate Co-Sponsor Sen. Michael Noland
Placed on Calendar Order of Concurrence Senate Amendment(s) 1
Arrived in House
Added as Alternate Co-Sponsor Sen. Melinda Bush
Third Reading - Passed; 054-000-000
Added as Alternate Co-Sponsor Sen. Julie A. Morrison
Added as Alternate Co-Sponsor Sen. Steven M. Landek
Placed on Calendar Order of 2nd Reading
Placed on Calendar Order of 3rd Reading May 27, 2016
Second Reading
Do Pass as Amended Insurance; 015-000-000
Senate Committee Amendment No. 1 Assignments Refers to Insurance
Senate Committee Amendment No. 1 Adopted
Added as Alternate Co-Sponsor Sen. William E. Brady
Added as Alternate Co-Sponsor Sen. Napoleon Harris, III
Added as Alternate Co-Sponsor Sen. Daniel Biss
Added as Alternate Co-Sponsor Sen. Wm. Sam McCann
Senate Committee Amendment No. 1 Referred to Assignments
Senate Committee Amendment No. 1 Filed with Secretary by Sen. William R. Haine
Rule 2-10 Committee Deadline Established As May 27, 2016
Alternate Chief Sponsor Changed to Sen. William R. Haine
Assigned to Insurance
Alternate Chief Co-Sponsor Changed to Sen. John G. Mulroe
Added as Alternate Co-Sponsor Sen. Patricia Van Pelt
Rule 2-10 Committee Deadline Established As May 27, 2016
Added as Alternate Co-Sponsor Sen. Andy Manar
Added as Alternate Co-Sponsor Sen. Iris Y. Martinez
Added as Alternate Co-Sponsor Sen. William Delgado
Sponsor Removed Sen. Patricia Van Pelt
Added as Alternate Co-Sponsor Sen. Scott M. Bennett
Added as Alternate Chief Co-Sponsor Sen. Patricia Van Pelt
Added as Alternate Chief Co-Sponsor Sen. Linda Holmes
Added as Alternate Chief Co-Sponsor Sen. Mattie Hunter
Added as Alternate Co-Sponsor Sen. Martin A. Sandoval
Added as Alternate Chief Co-Sponsor Sen. Jacqueline Y. Collins
Arrive in Senate
Referred to Assignments
First Reading
Added as Alternate Co-Sponsor Sen. Emil Jones, III
Chief Senate Sponsor Sen. John G. Mulroe
Placed on Calendar Order of First Reading
Third Reading - Standard Debate - Passed 075-034-000
Added Co-Sponsor Rep. Marcus C. Evans, Jr.
Removed from Short Debate Status
Placed on Calendar Order of 3rd Reading - Standard Debate
Added Co-Sponsor Rep. Luis Arroyo
Added Co-Sponsor Rep. Lawrence Walsh, Jr.
Added Co-Sponsor Rep. Laura Fine
Added Co-Sponsor Rep. Michelle Mussman
Added Co-Sponsor Rep. Elaine Nekritz
Added Co-Sponsor Rep. Kelly M. Cassidy
Added Co-Sponsor Rep. Jack D. Franks
Added Co-Sponsor Rep. Carol Sente
Added Co-Sponsor Rep. Sam Yingling
Added Co-Sponsor Rep. Litesa E. Wallace
Added Co-Sponsor Rep. Sonya M. Harper
Added Co-Sponsor Rep. Carol Ammons
Added Co-Sponsor Rep. Andrew F Skoog
Added Co-Sponsor Rep. Rita Mayfield
Added Co-Sponsor Rep. Kelly M. Burke
Added Co-Sponsor Rep. Patrick J. Verschoore
Added Co-Sponsor Rep. Mike Smiddy
Added Co-Sponsor Rep. Katherine Cloonen
Added Co-Sponsor Rep. Jay Hoffman
Added Co-Sponsor Rep. Deb Conroy
Added Co-Sponsor Rep. Michael J. Zalewski
Added Co-Sponsor Rep. John C. D'Amico
Added Co-Sponsor Rep. William Davis
Added Chief Co-Sponsor Rep. Jerry Costello, II
Removed Co-Sponsor Rep. Sue Scherer
Removed Co-Sponsor Rep. Jerry Costello, II
Added Chief Co-Sponsor Rep. Sue Scherer
Added Co-Sponsor Rep. Gregory Harris
Remove Chief Co-Sponsor Rep. Gregory Harris
Added Co-Sponsor Rep. Monique D. Davis
Remove Chief Co-Sponsor Rep. Monique D. Davis
Second Reading - Short Debate
Placed on Calendar Order of 3rd Reading - Short Debate
Placed on Calendar 2nd Reading - Short Debate
Do Pass / Short Debate Consumer Protection Committee; 010-006-000
Added Co-Sponsor Rep. Sue Scherer
Added Co-Sponsor Rep. Martin J. Moylan
Added Co-Sponsor Rep. Jaime M. Andrade, Jr.
Added Co-Sponsor Rep. Natalie A. Manley
Added Co-Sponsor Rep. Silvana Tabares
Added Co-Sponsor Rep. Elizabeth Hernandez
Added Co-Sponsor Rep. Jerry Costello, II
Added Co-Sponsor Rep. Ann M. Williams
Added Co-Sponsor Rep. Emanuel Chris Welch
Added Co-Sponsor Rep. La Shawn K. Ford
Added Co-Sponsor Rep. Pamela Reaves-Harris
Added Co-Sponsor Rep. Will Guzzardi
Added Co-Sponsor Rep. Eddie Lee Jackson, Sr.
Assigned to Consumer Protection Committee
Added Chief Co-Sponsor Rep. Sara Feigenholtz
Added Chief Co-Sponsor Rep. Monique D. Davis
Added Chief Co-Sponsor Rep. Mary E. Flowers
Added Chief Co-Sponsor Rep. Gregory Harris
Referred to Rules Committee
Filed with the Clerk by Rep. Robert Martwick
First Reading
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Senate Amendment 001 |
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