Full Text of HB0217 95th General Assembly
HB0217enr 95TH GENERAL ASSEMBLY
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HB0217 Enrolled |
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LRB095 04358 DRH 24401 b |
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| AN ACT concerning transportation.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Illinois Vehicle Code is amended by changing | 5 |
| Sections 3-113 and 3-202 as follows:
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| (625 ILCS 5/3-113) (from Ch. 95 1/2, par. 3-113) | 7 |
| Sec. 3-113. Transfer to or from dealer; records.
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| (a) After a dealer buys a vehicle and holds it for resale, | 9 |
| the
dealer must procure the
certificate of title from the owner | 10 |
| or the lienholder. The dealer may hold
the certificate until he | 11 |
| or she transfers the vehicle to another person.
Upon | 12 |
| transferring the vehicle to another person,
the dealer shall | 13 |
| promptly and within 20
days
execute the assignment and warranty | 14 |
| of title by a dealer, showing the names and
addresses of the | 15 |
| transferee and of any lienholder holding a security interest
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| created or reserved at the time of the resale, in the spaces | 17 |
| provided therefor
on the certificate or as the Secretary of | 18 |
| State prescribes, and mail or deliver
the certificate to the | 19 |
| Secretary of State with the transferee's application for
a new | 20 |
| certificate, except as provided in Section 3-117.2.
A dealer | 21 |
| has complied with this Section if the date of the mailing of | 22 |
| the certificate, as indicated by the postmark, is within 20 | 23 |
| days of the date on which the vehicle was transferred to |
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| another person.
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| (b) The Secretary of State may decline to process any | 3 |
| application for a
transfer of an interest in a vehicle if any | 4 |
| fees or taxes due under this
Code from the transferor or the | 5 |
| transferee have not been paid upon
reasonable notice and | 6 |
| demand.
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| (c) Any person who violates this Section shall be guilty of | 8 |
| a petty offense.
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| (Source: P.A. 94-239, eff. 1-1-06.)
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| (625 ILCS 5/3-202) (from Ch. 95 1/2, par. 3-202)
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| Sec. 3-202. Perfection of security interest.
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| (a) Unless excepted by Section 3-201, a security interest | 13 |
| in a
vehicle of a type for which a certificate of title is | 14 |
| required is not
valid against subsequent transferees or | 15 |
| lienholders of the vehicle
unless perfected as provided in this | 16 |
| Act.
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| (b) A security interest is perfected by the delivery to the
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| Secretary of State of the existing certificate of title, if | 19 |
| any, an
application for a certificate of title containing the | 20 |
| name and address
of the lienholder and the
required fee. The | 21 |
| security interest is perfected as of the time of
its creation | 22 |
| if the
delivery to the Secretary of State is completed within | 23 |
| 30
21 days after the
creation of the security interest or | 24 |
| receipt by the new lienholder of the
existing certificate of | 25 |
| title from a prior lienholder or licensed
dealer, otherwise as |
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LRB095 04358 DRH 24401 b |
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| of the
time of the delivery.
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| (c) If a vehicle is subject to a security interest when | 3 |
| brought into
this State, the validity of the security interest | 4 |
| is determined by the
law of the jurisdiction where the vehicle | 5 |
| was when the security interest
attached, subject to the | 6 |
| following:
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| 1. If the parties understood at the time the security | 8 |
| interest
attached that the vehicle would be kept in this | 9 |
| State and it was brought
into this State within 30 days | 10 |
| thereafter for purposes other than
transportation through | 11 |
| this State, the validity of the security interest
in this | 12 |
| State is determined by the law of this State.
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| 2. If the security interest was perfected under the law | 14 |
| of the
jurisdiction where the vehicle was when the security | 15 |
| interest attached,
the following rules apply:
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| (A) If the name of the lienholder is shown on an | 17 |
| existing
certificate of title issued by that | 18 |
| jurisdiction, his security interest
continues | 19 |
| perfected in this State.
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| (B) If the name of the lienholder is not shown on | 21 |
| an existing
certificate of title issued by that | 22 |
| jurisdiction, a security interest
may be perfected by | 23 |
| the lienholder delivering to the Secretary of State
the | 24 |
| prescribed notice and by payment of the required fee. | 25 |
| Such security
interest is perfected as of the time of | 26 |
| delivery of the prescribed
notice and payment of the |
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| required fee.
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| 3. If the security interest was not perfected under the | 3 |
| law of the
jurisdiction where the vehicle was when the | 4 |
| security interest attached,
it may be perfected in this | 5 |
| State; in that case perfection dates from
the time of | 6 |
| perfection in this State.
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| 4. A security interest may be perfected under paragraph | 8 |
| 3 of this
subsection either as provided in subsection (b) | 9 |
| or by the lienholder
delivering to the Secretary of State a | 10 |
| notice of security interest in
the form the Secretary of | 11 |
| State prescribes and the required fee.
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| (Source: P.A. 91-893, eff. 7-6-00.)
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