Illinois 98th Regular Session Status: In Committee

SB 3404 — INS FRATERNAL GUARANTY ASSOC

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 98th 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 relation to fraternal benefit societies. Adds the Fraternal Benefit Society Guaranty Association Law to the Code as a new Article to provide for the protection of members of fraternal benefit societies in the event of impairment or insolvency. Provides that a fraternal benefit society must be governed by a board of directors and managed by qualified officers. Sets the permissible number of directors and establishes certain qualifications. Authorizes the Director of Insurance to take action when a society is or may become insolvent. Creates the Illinois Fraternal Benefit Society Guaranty Association and requires participation by societies and others authorized to transact business in Illinois. Sets forth the powers and duties of the Association. Defines terms.

Bill Text

Action History

  1. Session Sine Die

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

  3. Rule 2-10 Committee Deadline Established As April 11, 2014

  4. Postponed - Insurance

  5. Senate Committee Amendment No. 1 Adopted

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

  7. Senate Committee Amendment No. 1 Referred to Assignments

  8. Senate Committee Amendment No. 1 Filed with Secretary by Sen. William R. Haine

  9. Postponed - Insurance

  10. Assigned to Insurance

  11. Referred to Assignments

  12. First Reading

  13. Filed with Secretary by Sen. William R. Haine

Sponsors

  • William R. Haine · Cosponsor

Sponsorship breakdown

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

Sponsors (0)

None.

Co-sponsors (1)

  • William R. Haine

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.

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Subjects

finance labor
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Frequently asked questions

What does SB 3404 do?
Amends the Illinois Insurance Code in relation to fraternal benefit societies. Adds the Fraternal Benefit Society Guaranty Association Law to the Code as a new Article to provide for the protection of members of fraternal benefit societies in the event of impairment or insolvency. Provides that a fraternal benefit society must be governed by a board of directors and managed by qualified officers. Sets the permissible number of directors and establishes certain qualifications. Authorizes the Director of Insurance to take action when a society is or may become insolvent. Creates the Illinois Fraternal Benefit Society Guaranty Association and requires participation by societies and others authorized to transact business in Illinois. Sets forth the powers and duties of the Association. Defines terms.
Who sponsors SB 3404?
SB 3404 is sponsored by William R. Haine.
What is the current status of SB 3404?
This bill died with 98th 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 3404?
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Last checked for changes 3 months ago · updated continuously

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