INS CD-REHAB DOMESTIC INS CO Senate SponsorsSen. William R. Haine House Sponsors(Rep. JoAnn D. Osmond) 1/8/2013SenateSession Sine Die 215 ILCS 5/188.2 newAmends the Illinois Insurance Code to set forth provisions concerning the rehabilitation or liquidation of a domestic company that is a covered financial company under the federal Dodd-Frank Wall Street Reform and Consumer Protection Act. Sets forth the grounds upon which the Director of Insurance may file a complaint for an order of rehabilitation or liquidation pursuant to the provisions of the Code concerning the grounds for rehabilitation and liquidation. Provides that after notice to the insurance company, the receivership court may grant an order on the complaint for rehabilitation or liquidation within 24 hours after its filing and that if the court does not make a determination on a complaint for rehabilitation or liquidation filed by the Director within 24 hours after its filing, then it shall be deemed granted by operation of law upon the expiration of the 24-hour period. Sets forth provisions concerning the court order and the Director's powers and authority. Effective immediately. 1/18/2012SenateFiled with Secretary by Sen. William R. Haine 1/18/2012SenateFirst Reading 1/18/2012SenateReferred to Assignments 1/24/2012SenateAssigned to Insurance 2/24/2012SenateDo Pass Insurance; 010-000-000 2/24/2012SenatePlaced on Calendar Order of 2nd Reading February 27, 2012 2/27/2012SenateSecond Reading 2/27/2012SenatePlaced on Calendar Order of 3rd Reading February 28, 2012 3/22/2012SenateThird Reading - Passed; 054-000-000 3/22/2012HouseArrived in House 3/22/2012HousePlaced on Calendar Order of First Reading 3/22/2012HouseChief House Sponsor Rep. JoAnn D. Osmond 3/22/2012HouseFirst Reading 3/22/2012HouseReferred to Rules Committee 1/8/2013SenateSession Sine Die