(625 ILCS 5/8-104)
(from Ch. 95 1/2, par. 8-104)
Requirements of bond.
1. A surety bond or real estate bond filed as proof as provided in
Section 8-103 shall be in the sum of $250,000 for each motor vehicle
operated by the owner providing the motor vehicle is subject to Section
8-101 or 8-101.1.
2. The surety of real estate bond shall provide for the payment of each
judgment by the owner of the motor vehicle (giving its manufacturer's name
and number and state license number) within 30 days after it becomes final,
provided each judgment shall have been rendered against such owner or any
person operating the motor vehicle with the owner's express or implied
consent, for any injury to or death of any person or for damage to property
other than such motor vehicle, resulting from the negligence of such owner,
his agent, or any person operating the motor vehicle with his express or
implied consent, provided that the maximum payment required of the surety
or sureties, on all judgments recovered against an owner hereunder, shall
not exceed the sum of $250,000 for each motor vehicle operated, under
Section 8-101 or 8-101.1.
(Source: P.A. 82-949.)