(625 ILCS 5/9-103) (from Ch. 95 1/2, par. 9-103)
Sec. 9-103.
Bond as proof - requirements.
A motor vehicle liability bond, conditioned that the owner of the motor
vehicle will pay any judgment within 30 days after it becomes final,
recovered against the customer and the owner of the motor vehicle or
against any person operating the motor vehicle with the customer's and the
owner's express or implied consent for damage to property other than to the
rented motor vehicle, or for an injury to, or for the death of any person
including an occupant of the rented motor vehicle, resulting from the
operation of the motor vehicle, provided, however, every such bond is in
the penal sum of $100,000.
The bond shall be executed by a solvent and responsible surety company
authorized to do business in the State of Illinois, or by one or more
personal sureties to be approved by the Secretary of State.
The personal sureties shall own real estate in the State of Illinois of
the aggregate value of $100,000, over and above all encumbrances, and each
of the personal sureties shall make an affidavit concerning the property
which he schedules for the purpose of qualifying as surety, stating the
location, legal description, market value, and the amount and nature of any
encumbrances.
(Source: P.A. 86-444.)
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