(625 ILCS 5/7-212) (from Ch. 95 1/2, par. 7-212)
Sec. 7-212. Authority of Administrator and Secretary of State to decrease
amount of
security. The Administrator may reduce the amount of security ordered in any
case
within one year after the date of the crash, but in no event for an
amount less than $1,500 (or $500 if any of the vehicles involved in the crash is subject to Section 7-601 but is not covered by a liability insurance policy in accordance with Section 7-601), if, in the judgment of the Administrator the amount
ordered is excessive, or may revoke or rescind its order requiring the
deposit of security in any case within one year after the date of the
crash if, in the judgment of the Administrator, the provisions of
Sections 7-202 and 7-203 excuse or exempt the operator or owner from the
requirement of the deposit. In case the security originally ordered has
been deposited the excess of the reduced amount ordered shall be returned
to the depositor or his or her personal representative forthwith, notwithstanding
the provisions of Section 7-214. The Secretary of State likewise shall have
authority granted to the Administrator to reduce the amount of security
ordered by the Administrator.
(Source: P.A. 102-982, eff. 7-1-23.)
|