Bill Text: IL HB3973 | 2013-2014 | 98th General Assembly | Introduced
Bill Title: Amends the Illinois Insurance Code. Makes a technical change in a Section concerning notices of cancellation.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2014-12-03 - Session Sine Die [HB3973 Detail]
Download: Illinois-2013-HB3973-Introduced.html
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| 1 | AN ACT concerning regulation.
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| 2 | Be it enacted by the People of the State of Illinois, | |||||||||||||||||||
| 3 | represented in the General Assembly:
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| 4 | Section 5. The Illinois Insurance Code is amended by | |||||||||||||||||||
| 5 | changing Section 143.15 as follows:
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| 6 | (215 ILCS 5/143.15) (from Ch. 73, par. 755.15)
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| 7 | Sec. 143.15. Mailing of cancellation notice. All notices of
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| 8 | cancellation of insurance as
defined in subsections (a), (b) | |||||||||||||||||||
| 9 | and
and (c) of Section 143.13 must
be mailed at least 30 days | |||||||||||||||||||
| 10 | prior to the effective date of
cancellation to the named | |||||||||||||||||||
| 11 | insured and mortgagee or lien holder,
if known, at the last | |||||||||||||||||||
| 12 | mailing address known to the company. All
notices of | |||||||||||||||||||
| 13 | cancellation shall include a specific explanation of
the reason | |||||||||||||||||||
| 14 | or reasons for cancellation. However, where cancellation
is for | |||||||||||||||||||
| 15 | nonpayment of premium, the notice of
cancellation must be | |||||||||||||||||||
| 16 | mailed at least 10 days before the effective date of the
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| 17 | cancellation. For purposes of this Section, the mortgagee or | |||||||||||||||||||
| 18 | lien holder, if known, may opt to accept notification | |||||||||||||||||||
| 19 | electronically.
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| 20 | (Source: P.A. 93-713, eff. 1-1-05.)
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