(625 ILCS 5/8-110) (from Ch. 95 1/2, par. 8-110)
Sec. 8-110.
Cancellation of insurance policy - notice.
1. In the event said policy of insurance be cancelled by the issuing
company, or the authority of said issuing company to do business in the
State of Illinois be revoked, the Secretary of State shall require the
owner who filed the same either to furnish a bond or to replace said policy
with another policy according to the provisions of this Act.
2. Said policy of insurance shall also contain a provision that the same
cannot be cancelled by the company issuing it without giving ten days
notice in writing of such cancellation to the owner and the Secretary of
State, either personally or by registered mail.
3. Whenever the issuing company gives such notice of cancellation, the
Secretary of State shall, at the expiration of said ten days, mark said
insurance policy "Withdrawn" with the date such withdrawal became
effective, and thereupon the liability of such company on said policy shall
cease as to any injury or damage sustained after the date such withdrawal
becomes effective.
(Source: P.A. 76-1586.)
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