Congratulates the citizens of the City of Olney and Richland County on the occasion of the 175th anniversary of their founding.
Appropriates $2 from the General Revenue Fund to the Board of Trustees of the Illinois State University for its FY 16 ordinary and contingent expenses.
Congratulates the members and staff of the Illinois Farm Bureau on the occasion of the organization's 100th anniversary and recognizes and appreciates the Illinois Farm Bureau's leadership and guidance on matters important to Illinois' agricultural community.
Honors Olney Rolling Thunder Chapter 3 for publicizing the POW-MIA issue, for educating the public that many prisoners of war and missing in action soldiers are left behind, and their continued commitment to helping American veterans from all wars.
Congratulates the Farm Credit System on its 100th anniversary.
Designate the section of Interstate 57 from the Tri-level south of Effingham to Watson Exit 151 as the "Trooper Frank Doris Memorial Highway".
Designates the section of Interstate 57 from the Tri-level north of Effingham to the southern Shelby County line as the "Trooper Layton T. Davis Memorial Highway".
Amends the Open Meetings Act. Provides that public bodies may hold closed meetings to consider building safety and security.
Amends the Illinois Insurance Code. Specifies that the requirement that the Director annually value, or cause to be valued, the reserve liabilities for all outstanding life insurance policies and annuity and pure endowment contracts of every life insurance company doing business in the State applies to policies and contracts issued prior to the operative date of the Valuation Manual. Specifies that the requirement that the Director annually value, or cause to be valued, the reserve liabilities for all outstanding life insurance contracts, annuity and pure endowment contracts, accident and health contracts, and deposit-type contracts of every company issued on or after the operative date of the Valuation Manual applies to policies and contracts issued on or after the operative date of the Valuation Manual. Makes technical and grammatical changes.
Amends the Title Insurance Act. Provides that the Secretary of Financial and Professional Regulation or his authorized agents shall, from time to time, conduct visits of registered agents to ensure compliance with the Act and verify that proper internal controls are being maintained. Removes language providing that: (i) upon a showing of good cause, the Secretary or his authorized agent has the authority and power to require any title insurance company to take all legal means to obtain the appropriate records of its registered agents and make them available for examination at a time and place designated by the Secretary and (ii) expenses incurred in the course of such examinations will be the responsibility of the title insurance company. Requires that each title insurance company shall remit (rather than pay), for all of its title insurance agents subject to this Act for filing an annual registration of its agents, an amount collected from the consumer (was, an amount) equal to $3 for each policy issued by all of its agents in the immediately preceding calendar year. Provides that each application for registration as a title insurance agent shall be made on a form specified by the Secretary and prepared by (rather than prepared in duplicate by) each title insurance company which the agent represents. Requires the title insurance company to retain the copy of the application and forward a copy (rather than the original) to the Secretary. Makes other changes.
