IL SB2339

Requires joint insurance pools to file annual audited financial reports with the Director of Insurance no later than 150 days after the end of each fiscal year, with audits performed by independent certified public accountants.

Mandates that joint insurance pools file an annual statement of actuarial opinion from an independent actuary confirming reserves are adequate, with an exemption available if the pool files an opinion from its reinsurance or aggregate coverage provider instead.

Allows the Director of Insurance to assess penalties of $500 per day (up to $10,000 per violation) against pools failing to comply with audit and actuarial opinion requirements, and authorizes examination of pool affairs and records.

Limits written notice requirements for pool members to withdraw to a maximum of 120 days for agreements entered into, modified, or renewed on or after the effective date of this act.

Prohibits joint insurance pools from interfering with public agencies' collective bargaining obligations and bars discrimination or retaliation against members who limit participation due to collective bargaining agreements.