625 ILCS 5/ Illinois Vehicle Code.

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625 ILCS 5/7-322

(625 ILCS 5/7-322) (from Ch. 95 1/2, par. 7-322)

Sec. 7-322.

Action on Bond.

If a judgment is rendered against the principal of any such surety or
real estate bond upon a liability covered by the conditions of such bond
and such judgment is not satisfied within thirty (30) days after it becomes
final, then the judgment creditor may, for his own use and benefit, and at
his sole expense, bring an action or actions in the name of the State
against the company or persons who executed such bond including an action
or proceeding to foreclose any lien that may exist upon the real estate of
a person who has executed such bond, which action shall be brought in like
manner and subject to all the provisions of law applicable to an action to
foreclose a mortgage upon real estate.

(Source: P.A. 76-1586.)

625 ILCS 5/7-323

(625 ILCS 5/7-323) (from Ch. 95 1/2, par. 7-323)

Sec. 7-323.

Money Or Securities As Proof.

A person may give proof of financial responsibility by delivering to the
Secretary of State a receipt of the State Treasurer showing the deposit
with said State Treasurer of money in amount or securities endorsed in
blank by the owner thereof and approved by said State Treasurer and of a
market value in a total amount as would be required for coverage in a motor
vehicle liability policy furnished by the person giving such proof under
this Act. Such securities shall be of the type which may legally be
purchased as investments of trust funds by trustees.

(Source: P.A. 76-1586.)