Illinois 102nd Regular Session Status: In Committee 1 D cosponsors

SB 2409 — INS-HOLDING COMPANY SYSTEMS

Last action — Session Sine Die

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 102nd Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Amends the Illinois Insurance Code. In provisions requiring the Director of Insurance to approve specified acquisitions of control, provides that the Director shall deny the acquisition if the competence, experience, and integrity of those persons who would control the operation are such that it would not (rather than would) be in the best interests of specified individuals. Provides specified procedures by which the Director may designate a group-wide supervisor of an internationally active insurance group and supervise internationally active insurance groups. In provisions concerning confidential treatment of certain information, excludes information submitted pursuant to specified provisions concerning mergers and acquisitions that is not personal financial information. Provides that the Director may share confidential and privileged documents, materials, or other information with third-party consultants to assist in the performance of the Director's duties. Makes other changes. Defines "group-wide supervisor", "internationally active insurance group", "NAIC", and "securityholder". Repeals certain provisions concerning exemptions and provisions concerning confidentiality of documents, materials, and other information. Effective immediately. Senate Committee Amendment No. 1 Provides that documents, materials, or other information in the possession or control of the Department of Insurance that are obtained by or disclosed to the Director or any other person in the course of an examination or investigation made pursuant to specified Sections (rather than pursuant to the Article, with the exception of information submitted pursuant to specified Sections that is not personal financial information) shall be shall be confidential by law and privileged, shall not be subject to the Illinois Freedom of Information Act, shall not be subject to subpoena, and shall not be subject to discovery or admissible in evidence in any private civil action.

Bill Text

Amendments

1 amendment

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Action History

  1. Session Sine Die

  2. Rule 3-9(a) / Re-referred to Assignments

  3. Placed on Calendar Order of 3rd Reading April 22, 2021

  4. Second Reading

  5. Placed on Calendar Order of 2nd Reading April 20, 2021

  6. Do Pass as Amended Insurance; 010-000-000

  7. Senate Committee Amendment No. 1 Adopted

  8. Senate Committee Amendment No. 1 Assignments Refers to Insurance

  9. Senate Committee Amendment No. 1 Referred to Assignments

  10. Senate Committee Amendment No. 1 Filed with Secretary by Sen. Napoleon Harris, III

  11. Assigned to Insurance

  12. Referred to Assignments

  13. First Reading

  14. Filed with Secretary by Sen. Napoleon Harris, III

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 182 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (182)

182 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance health-insurance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 2409 do?
Amends the Illinois Insurance Code. In provisions requiring the Director of Insurance to approve specified acquisitions of control, provides that the Director shall deny the acquisition if the competence, experience, and integrity of those persons who would control the operation are such that it would not (rather than would) be in the best interests of specified individuals. Provides specified procedures by which the Director may designate a group-wide supervisor of an internationally active insurance group and supervise internationally active insurance groups. In provisions concerning confidential treatment of certain information, excludes information submitted pursuant to specified provisions concerning mergers and acquisitions that is not personal financial information. Provides that the Director may share confidential and privileged documents, materials, or other information with third-party consultants to assist in the performance of the Director's duties. Makes other changes. Defines "group-wide supervisor", "internationally active insurance group", "NAIC", and "securityholder". Repeals certain provisions concerning exemptions and provisions concerning confidentiality of documents, materials, and other information. Effective immediately. Senate Committee Amendment No. 1 Provides that documents, materials, or other information in the possession or control of the Department of Insurance that are obtained by or disclosed to the Director or any other person in the course of an examination or investigation made pursuant to specified Sections (rather than pursuant to the Article, with the exception of information submitted pursuant to specified Sections that is not personal financial information) shall be shall be confidential by law and privileged, shall not be subject to the Illinois Freedom of Information Act, shall not be subject to subpoena, and shall not be subject to discovery or admissible in evidence in any private civil action.
Who sponsors SB 2409?
SB 2409 is sponsored by Napoleon Harris III (Democrat).
What is the current status of SB 2409?
This bill died with 102nd Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 2409?
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