093_HB1568

 
                                     LRB093 08707 DRH 08937 b

 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    adding Section 7-601.1 as follows:

 6        (625 ILCS 5/7-601.1 new)
 7        Sec. 7-601.1.  Records of all policies in effect.
 8        (a)  By July 1, 2004, all licensed insurance companies in
 9    this  State  shall  provide  to the Secretary a record of all
10    motor vehicle liability policies in effect on  the  date  the
11    information  is  provided. Before the seventh working date of
12    each calendar month, each insurer that issues a motor vehicle
13    liability policy shall provide to the Secretary a  record  of
14    each  policy  issued,  canceled,  terminated,  suspended,  or
15    revoked   during   the   immediately  preceding  month.  This
16    subsection (a) does not prohibit more frequent reporting.
17        (b)  The record required under  subsection  (a)  includes
18    the following:
19             (1)  The  name,  date  of  birth,  driver's  license
20        number, and address of each insured owner and operator.
21             (2)  The  make,  year,  and  vehicle  identification
22        number of each insured motor vehicle.
23             (3)  The   policy   number,   effective   date,  and
24        expiration date of the policy.
25        (c)  The  Secretary  shall  notify  the   Department   of
26    Insurance  of  any insurer who violates any provision of this
27    Section. The Department of Insurance may assess a fine of not
28    more than $1,000 per day of noncompliance against any insurer
29    who fails to comply with  this  Section.  The  Department  of
30    Insurance  shall  excuse  the  fine  if  an  assessed insurer
31    provides acceptable proof that  the  insurer's  noncompliance
 
                            -2-      LRB093 08707 DRH 08937 b
 1    was  inadvertent,  accidental,  or  the  result  of excusable
 2    neglect.

 3        Section 99.  Effective date.  This Act takes effect  upon
 4    becoming law.