(625 ILCS 5/8-109)
(from Ch. 95 1/2, par. 8-109)
Requirements of policy.
1. The policy of insurance
may cover one or more motor
vehicles and for each such vehicle shall insure such owner against liability
upon the owner to a minimum amount of $250,000 for bodily
injury to, or death of, any person, and $50,000 for damage to
that the maximum payment required of such company on all judgments
recovered against an owner hereunder shall not exceed the
sum of $300,000 for each motor vehicle operated under
the provisions of this Section.
2. The policy of insurance shall provide for payment
and satisfaction of any judgment within 30 days after it becomes
final rendered against the owner or any person operating the motor vehicle
with the owner's express or implied consent
for such injury, death or damage to property other than the motor vehicle,
and shall provide that suit may be brought
in any court of competent jurisdiction upon such insurance
policy by the owner of any such judgment.
3. The insurance policy shall contain a description
of each motor vehicle, giving the manufacturer's name and
number and state license number.
(Source: P.A. 82-949