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SB 3077 Illinois Senate · 93rd Regular Session

MORT INSURANCE-OVERINSURANCE

Summary
Amends the Mortgage Insurance Limitation and Notification Act. Prohibits a lender from requiring a borrower, as a condition of receiving or maintaining a loan secured by real property, to provide hazard insurance coverage against risks to the improvements on that real property in an amount exceeding the replacement value of the improvements on the real property. Requires the lender to disclose to the borrower, in writing, that the borrower is not required to have hazard insurance coverage against risks to the improvements on that real property in an amount exceeding the replacement value of the improvements on the real property. Effective immediately.
Bill status signed all 5 stages cleared
Introduction
Mar 2004
Committee Review
May 2004
Senate Passage
May 2004
House Passage
May 2004
Signed into Law
Aug 2004
Introduced Mar 26, 2004 Signed Aug 24, 2004
Floor votes · Senate May 29, 2004 · House May 26, 2004

How they voted

44–0
Passed · 12 other
Total votes 56
May 29, 2004
D Democratic30
26 Yea 4
86% Yea
R Republican26
18 Yea 8
69% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
43
Key actions
8
Committee
11
Amendments
6
Aug 24, 2004
Signed into law
Governor Approved
upper
May 29, 2004
Upper · Passed
Passed Both Houses
upper
May 29, 2004
Upper · Passed
House Committee Amendment No. 1 Senate Concurs 046-000-000
upper
May 29, 2004
Upper · Passed
House Committee Amendment No. 1 Motion to Concur Be Adopted Insurance & Pensions; 010-000-000
upper
May 28, 2004
Committee
House Committee Amendment No. 1 Motion to Concur Rules Referred to Insurance & Pensions
upper
May 28, 2004
Committee
House Committee Amendment No. 1 Motion to Concur Referred to Rules
upper
May 26, 2004
Introduced
Placed on Calendar Order of Concurrence House Amendment(s) 01 - May 27, 2004.
upper
May 26, 2004
Introduced
Secretary's Desk - Concurrence House Amendment(s) 01
upper
May 26, 2004
House · Passed
House Vote: pass (112-0-3)
house
May 18, 2004
Lower · Passed
Do Pass as Amended / Short Debate Consumer Protection Committee; 008-000-000
lower
May 18, 2004
Lower · Passed
House Committee Amendment No. 1 Adopted in Consumer Protection Committee; by Voice Vote
lower
May 18, 2004
Introduced
House Committee Amendment No. 1 Filed with Clerk by Consumer Protection Committee
lower
May 11, 2004
Committee
Assigned to Consumer Protection Committee
lower
Mar 30, 2004
Committee
Referred to Rules Committee
lower
Mar 26, 2004
Introduced
Arrived in House
lower
Mar 26, 2004
Amended
Senate Floor Amendment No. 1 Tabled Pursuant to Rule 5-4(a)
upper
Mar 23, 2004
Committee
Senate Floor Amendment No. 1 Referred to Rules
upper
Mar 23, 2004
Introduced
Senate Floor Amendment No. 1 Filed with Secretary by Sen. Bill Brady
upper
Feb 24, 2004
Upper · Passed
Do Pass Insurance & Pensions; 009-000-000
upper
Feb 18, 2004
Committee
Assigned to Insurance & Pensions
upper
Feb 6, 2004
Committee
Referred to Rules
upper
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.