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Public Act 102-0845 |
SB3609 Enrolled | LRB102 25403 RAM 34687 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 Section 3-113 and by adding Section 3-806.10 as |
follows: |
(625 ILCS 5/3-113) (from Ch. 95 1/2, par. 3-113) |
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, |
the
dealer must procure the
certificate of title from the |
owner or the lienholder. The dealer may hold
the certificate |
until he or she transfers the vehicle to another person.
Upon |
transferring the vehicle to another person,
the dealer shall |
promptly and within 20
days
execute the assignment and |
warranty of title by a dealer, showing the names and
addresses |
of the transferee and of any lienholder holding a security |
interest
created or reserved at the time of the resale, in the |
spaces provided therefor
on the certificate or as the |
Secretary of State prescribes, and mail or deliver
the |
certificate to the Secretary of State with the transferee's |
application for
a new certificate, except as provided in |
Section 3-117.2.
A dealer has complied with this Section if |
the date of the mailing of the certificate, as indicated by the |