Bill Status of HB2526 102nd General Assembly
Short Description: VEH CD-SALVAGE CERTIFICATE
Rep. Jay Hoffman
| 3/27/2021||House||Rule 19(a) / Re-referred to Rules Committee|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Vehicle Code. Provides that a vehicle of 4 model years or older, rather than 9 model years or older, may be retained by the registered owner instead of by the insurance company, even after the insurance company makes a payment of damages on total loss claim for the vehicle. Provides that an application for a salvage certificate shall be submitted to the Secretary of State when any licensed rebuilder, repairer, new or used vehicle dealer or remittance agent has submitted an application for title to a vehicle that the person knows or reasonably should have known to have sustained damages in excess of 50%, instead of 33 1/3 percent, of the vehicle's fair market value without that damage.