INS CD-SENIOR-MISREPRESENT Senate SponsorsSen. Mike Jacobs-Jacqueline Y. Collins-William R. Haine-Michael W. Frerichs-Steven M. Landek House Sponsors(Rep. Richard Morthland-JoAnn D. Osmond-Kay Hatcher, Frank J. Mautino, Kenneth Dunkin, Jack D. Franks, Keith Farnham, Carol A. Sente and Linda Chapa LaVia) 8/23/2011SenatePublic Act . . . . . . . . . 97-0527 215 ILCS 5/155.43 new215 ILCS 5/424from Ch. 73, par. 1031Amends the Illinois Insurance Code. Provides that no insurance producer shall use a senior-specific certification or professional designation that indicates or implies in such a way as to mislead a purchaser or prospective purchaser that the insurance producer has a special certification or training in advising or servicing seniors in connection with the solicitation, sale, or purchase of a life insurance or annuity product or in the provision of advice as to the value of or the advisability of purchasing or selling a life insurance or annuity product, either directly or indirectly through publications, writings, or by issuing or promulgating analyses or reports related to a life insurance or annuity product. Defines "use of senior-specific certifications or professional designations". Makes other changes. Effective immediately.House Floor Amendment No. 2 Adds reference to:215 ILCS 5/224from Ch. 73, par. 836Further amends the Illinois Insurance Code in the provision concerning standard provisions for life policies. Provides that the policy may require that due proof of the death of the insured shall consist of a certified copy of the death certificate of the insured, or other lawful evidence providing equivalent information, and proof of the claimant's interest in the proceeds. Provides that interest shall accrue on the proceeds payable because of the death of the insured, from date of death, at the rate of 10% annually (rather than 9%) on the total amount payable or the face amount if payments are to be made in installments until the total payment or first installment is paid, unless payment is made within 31 (rather than 15) days from the latest of certain happenings to occur (rather than the date of receipt by the company of due proof of loss). 2/9/2011SenateFiled with Secretary by Sen. Mike Jacobs 2/9/2011SenateFirst Reading 2/9/2011SenateReferred to Assignments 2/23/2011SenateAssigned to Insurance 3/3/2011SenateDo Pass Insurance; 010-000-000 3/3/2011SenatePlaced on Calendar Order of 2nd Reading March 8, 2011 3/9/2011SenateSecond Reading 3/9/2011SenatePlaced on Calendar Order of 3rd Reading March 10, 2011 3/14/2011SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins 3/31/2011SenateAdded as Chief Co-Sponsor Sen. William R. Haine 4/11/2011SenateAdded as Chief Co-Sponsor Sen. Michael W. Frerichs 4/14/2011SenateThird Reading - Passed; 056-000-000 4/14/2011HouseArrived in House 4/14/2011HousePlaced on Calendar Order of First Reading 4/14/2011HouseChief House Sponsor Rep. Richard Morthland 4/14/2011HouseFirst Reading 4/14/2011HouseReferred to Rules Committee 4/21/2011HouseAssigned to Insurance Committee 5/5/2011HouseAdded Alternate Chief Co-Sponsor Rep. JoAnn D. Osmond 5/5/2011HouseAdded Alternate Co-Sponsor Rep. Frank J. Mautino 5/9/2011HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Frank J. Mautino 5/9/2011HouseHouse Committee Amendment No. 1 Referred to Rules Committee 5/10/2011HouseDo Pass / Short Debate Insurance Committee; 016-000-000 5/10/2011HousePlaced on Calendar 2nd Reading - Short Debate 5/10/2011HouseHouse Committee Amendment No. 1 Tabled Pursuant to Rule 40 5/12/2011HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Frank J. Mautino 5/12/2011HouseHouse Floor Amendment No. 2 Referred to Rules Committee 5/16/2011HouseHouse Floor Amendment No. 2 Rules Refers to Insurance Committee 5/18/2011HouseHouse Floor Amendment No. 2 Recommends Be Adopted Insurance Committee; 016-000-000 5/18/2011HouseAdded Alternate Co-Sponsor Rep. Kenneth Dunkin 5/19/2011HouseSecond Reading - Short Debate 5/19/2011HouseHouse Floor Amendment No. 2 Adopted by Voice Vote 5/19/2011HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/20/2011HouseThird Reading - Short Debate - Passed 111-000-000 5/20/2011HouseAdded Alternate Co-Sponsor Rep. Jack D. Franks 5/20/2011HouseAdded Alternate Co-Sponsor Rep. Keith Farnham 5/20/2011HouseAdded Alternate Co-Sponsor Rep. Carol A. Sente 5/20/2011HouseAdded Alternate Co-Sponsor Rep. Linda Chapa LaVia 5/20/2011HouseAdded Alternate Chief Co-Sponsor Rep. Kay Hatcher 5/20/2011SenateSecretary's Desk - Concurrence House Amendment(s) 2 5/20/2011SenatePlaced on Calendar Order of Concurrence House Amendment(s) 2 - May 22, 2011 5/23/2011SenateHouse Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. Mike Jacobs 5/23/2011SenateHouse Floor Amendment No. 2 Motion to Concur Referred to Assignments 5/25/2011SenateHouse Floor Amendment No. 2 Motion to Concur Assignments Referred to Executive 5/26/2011SenateAdded as Chief Co-Sponsor Sen. Steven M. Landek 5/26/2011SenateHouse Floor Amendment No. 2 Motion To Concur Recommended Do Adopt Executive; 012-000-000 5/27/2011SenateHouse Floor Amendment No. 2 Senate Concurs 056-000-000 5/27/2011SenatePassed Both Houses 6/24/2011SenateSent to the Governor 8/23/2011SenateGovernor Approved 8/23/2011SenateEffective Date August 23, 2011 8/23/2011SenatePublic Act . . . . . . . . . 97-0527