DISSOLUTION-INSURANCE POLICIES Senate SponsorsSen. Chuck Weaver House Sponsors(Rep. Steven A. Andersson-Avery Bourne) 8/14/2018SenatePublic Act . . . . . . . . . 100-0871 750 ILCS 5/503from Ch. 40, par. 503Amends the Illinois Marriage and Dissolution of Marriage Act. Provides that as to any policy of life insurance insuring the life of either spouse, or any interest in such policy, that constitutes non-marital property, or constitutes marital property but was not specifically allocated between the parties as provided in the Act, a beneficiary designation made by or on behalf of the decedent prior to the entry of the judgment of dissolution or declaration of invalidity of marriage that provides for the payment or transfer at death of any of the proceeds of the policy to or for the benefit of the decedent's former spouse is void as of the time of the judgment of dissolution or declaration of invalidity of marriage and the policy proceeds shall pass as if the decedent's former spouse predeceased the decedent. Provides that a life insurance company that insures the life of either spouse or holds a policy in which either spouse has an interest will not be held liable for distributing the proceeds or transferring an interest in such a policy if it is disburses the proceeds or transfers the interest prior to the actual receipt of proof of the judgment of dissolution or declaration of invalidity of marriage.Senate Committee Amendment No. 1 Replaces everything after the enacting clause. Amends the Illinois Marriage and Dissolution of Marriage Act. Provides that if a judgment of dissolution of marriage is entered after an insured has designated the insured's spouse as a beneficiary under a life insurance policy in force at the time of entry, the designation of the insured's former spouse as beneficiary is not effective unless: (1) the judgment designates the insured's former spouse as the beneficiary; (2) the insured redesignates the former spouse as the beneficiary after entry of the judgment; or (3) the former spouse is designated to receive the proceeds in trust for, on behalf of, or for the benefit of a child or a dependent of either former spouse. Provides that if a designation is not effective, the proceeds of the policy are payable to the named alternative beneficiary or, if there is not a named alternative beneficiary, to the estate of the insured. Provides that an insurer that pays the proceeds of a life insurance policy to the beneficiary under a designation that is not effective is liable for payment of the proceeds to the entitled person or estate only if: (A) before payment of the proceeds to the designated beneficiary, the insurer receives written notice at the home office of the insurer from an interested person that the designation is not effective; and (B) the insurer has not filed an interpleader.House Committee Amendment No. 1 Exempts life insurance policies provided under plans governed by the Employee Retirement Income Security Act of 1974, the Federal Employee Group Life Insurance Act, or any other preempting federal law. 1/30/2018SenateFiled with Secretary by Sen. Chuck Weaver 1/30/2018SenateFirst Reading 1/30/2018SenateReferred to Assignments 2/7/2018SenateAssigned to Judiciary 2/14/2018SenatePostponed - Judiciary 2/27/2018SenatePostponed - Judiciary 3/12/2018SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Chuck Weaver 3/12/2018SenateSenate Committee Amendment No. 1 Referred to Assignments 3/13/2018SenateSenate Committee Amendment No. 1 Assignments Refers to Judiciary 3/13/2018SenateSenate Committee Amendment No. 1 Adopted 3/14/2018SenateDo Pass as Amended Judiciary; 007-000-000 3/14/2018SenatePlaced on Calendar Order of 2nd Reading April 10, 2018 4/10/2018SenateSecond Reading 4/10/2018SenatePlaced on Calendar Order of 3rd Reading April 11, 2018 4/11/2018SenateThird Reading - Passed; 058-000-000 4/11/2018HouseArrived in House 4/13/2018HouseChief House Sponsor Rep. Steven A. Andersson 4/13/2018HouseFirst Reading 4/13/2018HouseReferred to Rules Committee 4/26/2018HouseAssigned to Judiciary - Civil Committee 5/9/2018HouseTo Domestic Relations Law Subcommittee 5/10/2018HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Steven A. Andersson 5/10/2018HouseHouse Committee Amendment No. 1 Referred to Rules Committee 5/14/2018HouseHouse Committee Amendment No. 1 Rules Refers to Judiciary - Civil Committee 5/16/2018HouseRecommends Do Pass Subcommittee/ Judiciary - Civil Committee; 003-000-000 5/16/2018HouseReported Back To Judiciary - Civil Committee; 5/16/2018HouseHouse Committee Amendment No. 1 Adopted in Judiciary - Civil Committee; by Voice Vote 5/16/2018HouseDo Pass as Amended / Short Debate Judiciary - Civil Committee; 011-000-000 5/17/2018HousePlaced on Calendar 2nd Reading - Short Debate 5/18/2018HouseSecond Reading - Short Debate 5/18/2018HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/18/2018HouseAdded Alternate Chief Co-Sponsor Rep. Avery Bourne 5/21/2018HouseThird Reading - Short Debate - Passed 101-000-000 5/22/2018SenateSecretary's Desk - Concurrence House Amendment(s) 1 5/22/2018SenatePlaced on Calendar Order of Concurrence House Amendment(s) 1 - May 23, 2018 5/24/2018SenateHouse Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Chuck Weaver 5/24/2018SenateHouse Committee Amendment No. 1 Motion to Concur Referred to Assignments 5/24/2018SenateHouse Committee Amendment No. 1 Motion to Concur Assignments Referred to Judiciary 5/25/2018SenateHouse Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Judiciary; 011-000-000 5/29/2018SenateHouse Committee Amendment No. 1 Senate Concurs 057-000-000 5/29/2018SenateSenate Concurs 5/29/2018SenatePassed Both Houses 6/27/2018SenateSent to the Governor 8/14/2018SenateGovernor Approved 8/14/2018SenateEffective Date January 1, 2019 8/14/2018SenatePublic Act . . . . . . . . . 100-0871