- Stage
- Became law
- Started in
- House
- Sponsor
- 1
- Latest action
- Aug 20, 2010
What it does
Amends the Illinois Insurance Code. Sets forth definitions of "netting agreement" and "qualified financial contract". Sets forth the conditions under which no person shall be stayed or prohibited from exercising contractual rights concerning netting agreements and qualified financial contracts. Provides that upon termination of a netting agreement or qualified financial contract, the net or settlement amount owed by a nondefaulting party to an insurer against which an application or petition has been filed shall be transferred to or on the order of the receiver for the insurer. Sets forth provisions that shall apply concerning disaffirmance and repudiation. Sets forth requirements…
Where it stands
This bill passed and is now law.
Introduced (Done)
Committee (Done)
Floor (Done)
Law (Done)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
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Where it goes next
Once a bill is decided, the questions are about what is done with it in Illinois.