State of Illinois
92nd General Assembly
Legislation

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92_HB4293

 
                                               LRB9212789DHgc

 1        AN ACT in relation to vehicles.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5.  The  Illinois  Vehicle  Code  is  amended  by
 5    changing Section 7-203 as follows:

 6        (625 ILCS 5/7-203) (from Ch. 95 1/2, par. 7-203)
 7        Sec.  7-203.   Requirements as to policy or bond. No such
 8    policy  or  bond  referred  to  in  Section  7-202  shall  be
 9    effective under this Section unless issued  by  an  insurance
10    company  or  surety company authorized to do business in this
11    State, except that if such motor vehicle was  not  registered
12    in  this  State,  or was a motor vehicle which was registered
13    elsewhere than in this State at the  effective  date  of  the
14    policy  or  bond,  or  the  most recent renewal thereof, such
15    policy or bond shall not  be  effective  under  this  Section
16    unless  the  insurance  company  or  surety  company,  if not
17    authorized to do business in  this  State,  shall  execute  a
18    power  of  attorney  authorizing  the  Secretary  of State to
19    accept service on its behalf of  notice  or  process  in  any
20    action  upon  such  policy  or bond arising out of such motor
21    vehicle accident. However,  every  such  policy  or  bond  is
22    subject, if the motor vehicle accident has resulted in bodily
23    injury or death, to a limit, exclusive of interest and costs,
24    of  not less than $30,000 $20,000 because of bodily injury to
25    or death of any one person in any one motor vehicle  accident
26    and,  subject to said limit for one person, to a limit of not
27    less than $60,000 $40,000 because  of  bodily  injury  to  or
28    death of 2 or more persons in any one motor vehicle accident,
29    and,  if the motor vehicle accident has resulted in injury to
30    or destruction of property, to  a  limit  of  not  less  than
31    $25,000  $15,000  because  of  injury  to  or  destruction of
 
                            -2-                LRB9212789DHgc
 1    property of others in any one motor vehicle accident.
 2        Upon receipt of a written motor vehicle  accident  report
 3    from  the  Administrator  the  insurance  company  or  surety
 4    company  named  in such notice shall notify the Administrator
 5    within such time and in such manner as the Administrator  may
 6    require, in case such policy or bond was not in effect at the
 7    time of such motor vehicle accident.
 8    (Source: P.A. 85-730.)

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