Illinois SB3205 amends the Illinois Insurance Guaranty Fund Article to adjust provisions concerning the Fund's powers and obligations.
Illinois SB3205 amends the Illinois Insurance Guaranty Fund Article of the Illinois Insurance Code. It modifies the Fund's powers to contract with the Office of the Special Deputy Receiver and other entities, allowing the Fund to provide consulting and claims administration services. The bill also adjusts the priority of the Fund's expenses in the liquidation of an insolvent company and specifies the Fund's right to recover certain expenses from certain persons.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.