Bill Status of SB2329 94th General Assembly
Short Description: VEH CD-SALVAGE CERTIFICATES
Sen. Iris Y. Martinez
| 1/9/2007||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Vehicle Code. Provides that a vehicle owned by a self-insured company shall be considered salvage if the vehicle has sustained damage to the extent that the self-insured company determines the vehicle to be a total loss, or if the cost of repairing the damage would be greater than 33 1/3 % of its fair market value. Establishes requirements for obtaining a salvage certificate for the vehicle. Provides for exchange of a salvage certificate for a certificate of title if a vehicle owned by a self-insured company that was declared a total loss because of a theft is recovered without damage.
|Date||Chamber|| Action|| 1/12/2006||Senate||Filed with Secretary by Sen. Iris Y. Martinez|| 1/12/2006||Senate||First Reading|| 1/12/2006||Senate||Referred to Rules|| 1/9/2007||Senate||Session Sine Die|