INS CD-ACTUAL CASH VALUE
Summary
Amends the Illinois Insurance Code. Provides that no company authorized to transact the kinds of business related to Class 2 (casualty, fidelity, and surety) or Class 3 (fire and marine) insurance may issue an insurance contract or policy that contains a provision that allows a property claim and settlement offer to be calculated using a method other than actual cash value. Defines "actual cash value" as replacement cost less depreciation, considering the age and condition of the property.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2009
Committee Review
Floor Vote
Governor
Introduced Feb 19, 2009
Last action Jan 11, 2011
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
6
Key actions
0
Committee
3
Jan 11, 2011
House · Failed
Session Sine Die
Mar 13, 2009
House · Referred to committee
Rule 19(a) / Re-referred to Rules Committee
Feb 25, 2009
House · Referred to committee
Assigned to Insurance Committee
Feb 20, 2009
House · Referred to committee
Referred to Rules Committee
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Thomas Holbrook
DDemocratic
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