CORP DISSOLUTION LIABILITY INS Senate SponsorsSen. William R. Haine House Sponsors(Rep. Arthur Turner) 1/13/2015SenateSession Sine Die 805 ILCS 5/12.30from Ch. 32, par. 12.30805 ILCS 5/12.80from Ch. 32, par. 12.80Amends the Business Corporation Act of 1983. Provides that upon a corporate dissolution any policy of liability insurance covering acts and omissions of the dissolved corporation committed during the corporation's existence shall be held in trust for the benefit of any injured party. Provides that any policy shall be held in trust for as long as there is unexhausted coverage applicable to acts or omissions of the corporation. Modifies the time within which an action may be brought when unexhausted liability coverage is in effect. Effective immediately.Senate Committee Amendment No. 1 Deletes reference to:805 ILCS 5/12.30805 ILCS 5/12.80Adds reference to:805 ILCS 5/15.35from Ch. 32, par. 15.35Replaces everything after the enacting clause. Amends the Business Corporation Act of 1983. Makes a technical change in a Section concerning franchise taxes payable by domestic corporations. 2/14/2014SenateFiled with Secretary by Sen. William R. Haine 2/14/2014SenateFirst Reading 2/14/2014SenateReferred to Assignments 2/25/2014SenateAssigned to Insurance 3/21/2014SenatePostponed - Insurance 3/21/2014SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. William R. Haine 3/21/2014SenateSenate Committee Amendment No. 1 Referred to Assignments 3/25/2014SenateSenate Committee Amendment No. 1 Assignments Refers to Insurance 3/26/2014SenateSenate Committee Amendment No. 1 Adopted 3/27/2014SenateDo Pass as Amended Insurance; 008-004-000 3/27/2014SenatePlaced on Calendar Order of 2nd Reading April 1, 2014 4/7/2014SenateSecond Reading 4/7/2014SenatePlaced on Calendar Order of 3rd Reading April 8, 2014 4/8/2014SenateThird Reading - Passed; 041-012-000 4/9/2014HouseArrived in House 4/9/2014HouseChief House Sponsor Rep. Arthur Turner 4/9/2014HouseFirst Reading 4/9/2014HouseReferred to Rules Committee 1/13/2015SenateSession Sine Die