Fabio
117 lines
9.9 KiB
Markdown
117 lines
9.9 KiB
Markdown
---
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type: "Bill"
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title: "INS CD-INSOLVENCY"
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description: "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 concerning proof and allowance of claims. Provides that the Article concerning life and health insurance guaranty associations in the Code shall provide coverage for certain policies and contracts (1) to certain persons who are owners or certificate holders, (2) for certain unallocated annuity contracts, and (3) for certain structured settlement annuities. Sets forth the conditions under which the provisions of the Article shall not apply. Makes changes in a provision concerning definitions. Provides that the life insurance and annuity account that the Illinois Life and Health Insurance Guaranty Association must maintain shall include an annuity account, which shall include annuity contracts owned by a governmental retirement plan and unallocated annuity account, which shall exclude contracts owned by a governmental retirement benefit plan. Makes changes in the provisions concerning the Association's board of directors, powers and duties, assessments, and operations. Amends the Health Maintenance Organization Act to make changes concerning the Association's powers, duties, operations, and immunity. Makes other changes. Effective immediately."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "96th"
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identifier: "HB 5217"
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citation: "Illinois HB 5217 (96th)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: []
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version_count: 3
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action_count: 56
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vote_count: 3
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first_action: "2010-02-03"
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last_action: "2010-08-20"
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source: "openstates"
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source_identifier: "ocd-bill/9a49e7ca-fdae-49fa-bd9d-d6613f666f8c"
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source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=5217&GAID=10&DocTypeID=HB&LegId=50217&SessionID=76&GA=96"
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source_hash: "7759a4ab6237df0e36ec5d292dfc38604307eac23a7cb51009f4fb846e3d62df"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-il"]
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---
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# Illinois HB 5217 (96th) — INS CD-INSOLVENCY
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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 concerning proof and allowance of claims. Provides that the Article concerning life and health insurance guaranty associations in the Code shall provide coverage for certain policies and contracts (1) to certain persons who are owners or certificate holders, (2) for certain unallocated annuity contracts, and (3) for certain structured settlement annuities. Sets forth the conditions under which the provisions of the Article shall not apply. Makes changes in a provision concerning definitions. Provides that the life insurance and annuity account that the Illinois Life and Health Insurance Guaranty Association must maintain shall include an annuity account, which shall include annuity contracts owned by a governmental retirement plan and unallocated annuity account, which shall exclude contracts owned by a governmental retirement benefit plan. Makes changes in the provisions concerning the Association's board of directors, powers and duties, assessments, and operations. Amends the Health Maintenance Organization Act to make changes concerning the Association's powers, duties, operations, and immunity. Makes other changes. Effective immediately.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09600HB5217&GA=96&SessionId=76&DocTypeId=HB&LegID=50217&DocNum=5217&GAID=10&Session=&print=true)
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2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09600HB5217eng&GA=96&SessionId=76&DocTypeId=HB&LegID=50217&DocNum=5217&GAID=10&Session=&print=true)
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3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09600HB5217enr&GA=96&SessionId=76&DocTypeId=HB&LegID=50217&DocNum=5217&GAID=10&Session=&print=true)
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## Votes
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- Concurrence, Amendment 1 — **112–0** (pass) · lower
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- Third Reading — **58–0** (pass) · upper
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- Third Reading — **109–0** (pass) · lower
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## Sponsors
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- Frank J. Mautino — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2010-02-03** Filed with the Clerk by Rep. Frank J. Mautino `filing`
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- **2010-02-03** Added Chief Co-Sponsor Rep. JoAnn D. Osmond
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- **2010-02-03** First Reading `reading-1`
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- **2010-02-03** Referred to Rules Committee `referral-committee`
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- **2010-03-08** Assigned to Insurance Committee `referral-committee`
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- **2010-03-09** Added Chief Co-Sponsor Rep. Monique D. Davis
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- **2010-03-09** Moved to Suspend Rule 25 Rep. Barbara Flynn Currie
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- **2010-03-09** Suspend Rule 25 - Prevailed
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- **2010-03-09** Do Pass / Short Debate Insurance Committee; 022-000-000 `committee-passage`
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- **2010-03-09** Placed on Calendar 2nd Reading - Short Debate
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- **2010-03-10** Second Reading - Short Debate `reading-2`
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- **2010-03-10** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2010-03-11** Added Chief Co-Sponsor Rep. David R. Leitch
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- **2010-03-12** Third Reading - Short Debate - Passed 109-000-001 `reading-3, passage`
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- **2010-03-12** Added Chief Co-Sponsor Rep. Patricia R. Bellock
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- **2010-03-12** Arrive in Senate `introduction`
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- **2010-03-12** Placed on Calendar Order of First Reading March 15, 2010 `reading-1`
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- **2010-03-15** Chief Senate Sponsor Sen. William R. Haine
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- **2010-03-15** First Reading `reading-1`
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- **2010-03-15** Referred to Assignments `referral-committee`
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- **2010-04-06** Assigned to Insurance `referral-committee`
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- **2010-04-15** Postponed - Insurance
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- **2010-04-21** Do Pass Insurance; 010-000-000 `committee-passage`
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- **2010-04-21** Placed on Calendar Order of 2nd Reading April 22, 2010
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- **2010-04-21** Senate Floor Amendment No. 1 Filed with Secretary by Sen. William R. Haine `amendment-introduction`
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- **2010-04-21** Senate Floor Amendment No. 1 Referred to Assignments `referral-committee`
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- **2010-04-22** Senate Floor Amendment No. 1 Assignments Refers to Insurance
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- **2010-04-23** Second Reading `reading-2`
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- **2010-04-23** Placed on Calendar Order of 3rd Reading April 27, 2010
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- **2010-04-27** Senate Floor Amendment No. 2 Filed with Secretary by Sen. William R. Haine `amendment-introduction`
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- **2010-04-27** Senate Floor Amendment No. 2 Referred to Assignments `referral-committee`
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- **2010-04-28** Senate Floor Amendment No. 2 Assignments Refers to Insurance
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- **2010-04-29** Senate Floor Amendment No. 1 Recommend Do Adopt Insurance; 007-000-000
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- **2010-04-29** Senate Floor Amendment No. 2 Recommend Do Adopt Insurance; 007-000-000
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- **2010-05-04** Recalled to Second Reading `reading-2`
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- **2010-05-04** Senate Floor Amendment No. 1 Adopted; Haine `amendment-passage`
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- **2010-05-04** Senate Floor Amendment No. 2 Adopted; Haine `amendment-passage`
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- **2010-05-04** Placed on Calendar Order of 3rd Reading
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- **2010-05-04** Third Reading - Passed; 058-000-001 `reading-3, passage`
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- **2010-05-04** Arrived in House `introduction`
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- **2010-05-04** Placed on Calendar Order of Concurrence Senate Amendment(s) 1, 2
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- **2010-05-04** Senate Floor Amendment No. 1 Motion Filed Concur Rep. Frank J. Mautino; MOTION #1
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- **2010-05-04** Senate Floor Amendment No. 2 Motion Filed Concur Rep. Frank J. Mautino; MOTION #2
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- **2010-05-04** Senate Floor Amendment No. 1 Motion to Concur Referred to Rules Committee; MOTION #1 `referral-committee`
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- **2010-05-04** Senate Floor Amendment No. 2 Motion to Concur Referred to Rules Committee; MOTION #2 `referral-committee`
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- **2010-05-06** Senate Floor Amendment No. 1 Motion to Concur Rules Referred to Insurance Committee; MOTION #1 `referral-committee`
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- **2010-05-06** Senate Floor Amendment No. 2 Motion to Concur Rules Referred to Insurance Committee; MOTION #2 `referral-committee`
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- **2010-05-07** Senate Floor Amendment No. 1 Motion to Concur Recommends Be Adopted Insurance Committee; 016-000-000; MOTION #1
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- **2010-05-07** Senate Floor Amendment No. 2 Motion to Concur Recommends Be Adopted Insurance Committee; 016-000-000; MOTION #2
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- **2010-05-26** Senate Floor Amendment No. 1 House Concurs 112-000-000
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- **2010-05-26** Senate Floor Amendment No. 2 House Concurs 112-000-000
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- **2010-05-26** Passed Both Houses
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- **2010-06-24** Sent to the Governor `executive-receipt`
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- **2010-08-20** Governor Approved `executive-signature`
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- **2010-08-20** Effective Date August 20, 2010
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- **2010-08-20** Public Act . . . . . . . . . 96-1450 `became-law`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/9a49e7ca-fdae-49fa-bd9d-d6613f666f8c`. Confidence: reported (aggregated from official Illinois legislature records).
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