(625 ILCS 5/18a-301)
(from Ch. 95 1/2, par. 18a-301)
Commercial vehicle relocators - Security requirements.
Every commercial vehicle relocator shall file with the Commission and have
in effect an indemnity bond or insurance policy or certificates of bonds
or insurance in lieu thereof which shall indemnify or insure the relocator
for its liability: (1) for injury to person, in an amount not less than
$100,000 to any one person and $300,000 for any one accident; (2) in case
of damage to property other than a vehicle being removed, in an amount not
less than $50,000 for any one accident; and (3) in case of damage to any
vehicle relocated or stored by the relocator, in an amount not less than
$15,000 per vehicle. Any such bond or policy shall be issued by a bonding
or insurance firm authorized to do business as such in
the State of Illinois.
All certificates or indemnity bonds or insurance filed with the Commission
must show the coverage effective continuously until cancelled, and the Commission
may require such evidence of continued validity as it deems necessary.
(Source: P.A. 85-1396.)