Amends the Title Insurance Act. Provides that a title insurance company, title insurance agent, or independent escrowee shall not make disbursements in connection with any escrows, settlements, or closings out of a fiduciary trust account or accounts unless the funds in the aggregate amount of $50,000 or greater received from any single party to the transaction are wired funds unconditionally held by and irrevocably credited to the fiduciary trust account of the title insurance company, title insurance agent, or independent escrowee; are good funds as defined in the provision; or are collected funds as defined in the provision. Provides that a title insurance company or title insurance agent shall not make disbursements in connection with any escrows, settlements, or closings out of a fiduciary trust account or accounts unless the funds in the amount of less than $50,000 received from any single party to the transaction are collected funds or good funds as defined in the provision. Provides that a lender or any other party to a transaction, using the closing or settlement services of a title insurance company, title insurance agent, or independent escrowee shall, at or before the time of closing or settlement, deliver its funds to the title insurance company, the title insurance agent, or the independent escrowee in the form as required by the provision. Effective January 1, 2009.
Sen. Don Harmon
Sponsored bills
Amends the Retailers' Occupation Tax Act. Makes a technical change in a Section concerning the short title.
Creates the Public Service Accountability Act. Specifies the conditions under which a State executive branch agency may enter into a contract with a private entity for the performance of services currently performed by public employees.
Amends the Illinois Insurance Code. Sets out the types of insurance producers that are exempt from the provisions of the Section. Requires an insurance producer to disclose in writing certain information to customers prior to binding coverage, disclose to each customer its compensation relating to that customer's policy prior to binding or renewing coverage, and disclose to each customer at the end of each calendar year all compensation received during the preceding year or anticipated to be received from any insurer or third party in connection with the placement of, renewal of, servicing of, or consultation on that customer's policy. Provides that an insurance producer may retain interest earned on premiums collected on behalf of insurers only after prior notification to the customers from whom such premiums are collected. Makes other changes.
Amends the Criminal Code of 1961. Makes a technical change in a Section concerning the unlawful sale of firearms.
Creates the State Facility Overtime Act. Provides that the Director of the State agency responsible for the operation of specified State facilities (or the Director's designee or agent) may not require an employee to accept work in excess of an agreed upon, predetermined, and regularly scheduled daily work shift, not to exceed 40 hours per week. Provides for: exceptions to the prohibition; posting a summary of the Act and applicable rules; investigation of complaints by the Illinois Department of Labor and disposition of complaints; adoption of administrative rules; construction; and other matters. Effective immediately.
Amends the State Finance Act. Makes a technical change in a Section concerning required reports and accounts.
Creates the Postpartum Mood Disorders Prevention Act. Sets out the findings of the General Assembly and the purposes of the Act. Provides that the Director of Public Health, in conjunction with the Department of Financial and Professional Regulation and the Board of Nursing, shall work with physicians, healthcare facilities, nurses, and licensed health care workers in the State to develop policies and procedures related to the prevention, treatment, and diagnosis of postpartum mood disorders in women.
Amends the Illinois Income Tax Act. Provides that the Director of Revenue shall make available to the Administrative Office of the Illinois Courts, county boards, jury administrators, and jury commissions information concerning persons claiming an earned income tax credit under the Act. Amends the Jury Act and the Jury Commission Act. Adds persons claiming an earned income tax credit to the list of persons that may be on a jury list. Requires the jury administrator or jury commissioners in Cook County to compile a jury list every year (now, every 4 years). Amends the State Mandates Act to require implementation without reimbursement by the State.
Amends the Uniform Penalty and Interest Act. Makes a technical change in a Section concerning the short title.