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93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB6764
Introduced 02/09/04, by Lou Lang SYNOPSIS AS INTRODUCED:
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625 ILCS 5/7-203 |
from Ch. 95 1/2, par. 7-203 |
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Amends the Illinois Vehicle Code. Increases by a multiple of 5 the liability insurance coverage that a driver must carry in order to be exempt from the requirement of posting security after an accident involving death, bodily injury, or more than $500 in damage to the property of any one person. Requires the following minimum coverage amounts: (i) $100,000 for a motor vehicle accident resulting in the bodily injury to or death of one person, (ii) $200,000 for a motor vehicle accident resulting in the bodily injury to or death of 2 or more persons, and (iii) $75,000 for a motor vehicle accident resulting in injury to or destruction of property of others. Effective immediately.
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A BILL FOR
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HB6764 |
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LRB093 14785 DRH 40341 b |
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| AN ACT concerning vehicles.
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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 |
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| Section 7-203 as follows:
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| (625 ILCS 5/7-203) (from Ch. 95 1/2, par. 7-203)
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| Sec. 7-203. Requirements as to policy or bond. No such |
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| policy or bond referred to in Section 7-202 shall
be effective |
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| under this Section unless issued by an insurance company or
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| surety company authorized to do business in this State, except |
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| that if
such motor vehicle was not registered in this State, or |
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| was a motor
vehicle which was registered elsewhere than in this |
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| State at the
effective date of the policy or bond, or the most |
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| recent renewal
thereof, such policy or bond shall not be |
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| effective under this Section
unless the insurance company or |
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| surety company, if not authorized to do
business in this State, |
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| shall execute a power of attorney authorizing
the Secretary of |
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| State to accept service on its behalf of notice or
process in |
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| any action upon such policy or bond arising out of such
motor |
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| vehicle accident. However, every such policy or bond is |
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| subject, if
the motor vehicle accident has resulted in bodily |
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| injury or death, to
a limit, exclusive of interest and costs, |
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| of not less than $100,000
$20,000 because of
bodily injury to |
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| or death of any one person in any one motor vehicle
accident |
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| and, subject to said limit for one person, to a limit of not |
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| less than
$200,000
$40,000 because of bodily injury to or death |
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| of 2 or more persons
in any one motor vehicle accident, and, if |
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| the motor vehicle accident
has resulted in injury to or |
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| destruction of property, to a limit of not
less than $75,000
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| $15,000 because of injury to or destruction of
property of |
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| others
in any one motor vehicle accident.
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| Upon receipt of a written motor vehicle accident
report |