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625 ILCS 5/7-303

    (625 ILCS 5/7-303) (from Ch. 95 1/2, par. 7-303)
    Sec. 7-303. Suspension of driver's licenses, registration certificates, license plates and registration stickers for failure to satisfy judgment.
    (a) The Secretary of State shall, except as provided in paragraph (d), suspend the driver's license issued to any person upon receiving an authenticated report as hereinafter provided for in Section 7-307 that the person has failed for a period of 30 days to satisfy any final judgment in amounts as hereinafter stated, and shall also suspend the registration certificate, license plates and registration sticker of the judgment debtor's motor vehicle involved in the crash as indicated in the authenticated report.
    (b) The term "judgment" shall mean: A final judgment of any court of competent jurisdiction of any State, against a person as defendant for damages on account of bodily injury to or death of any person or damages to property resulting from the operation, on and after July 12, 1938, of any motor vehicle.
    (c) The term "State" shall mean: Any State, Territory, or possession of the United States, the District of Columbia, or any province of the Dominion of Canada.
    (d) The Secretary of State shall not suspend the driver's license, registration certificates, registration stickers or license plates of the judgment debtor, nor shall such judgment debtor be subject to the suspension provisions of Sections 7-308 and 7-309 if all the following conditions are met:
        1. At the time of the motor vehicle accident which
    
gave rise to the unsatisfied judgment the judgment debtor was covered by a motor vehicle liability policy or bond meeting the requirements of this Chapter;
        2. The insurance company which issued the policy or
    
bond has failed and has suspended operations by order of a court;
        3. The judgment debtor had no knowledge of the
    
insurance company's failure prior to the motor vehicle accident;
        4. Within 30 days after learning of the insurance
    
company's failure the judgment debtor secured another liability policy or bond meeting the requirements of this Article relating to future occurrences or accidents;
        5. The insurance company which issued the motor
    
vehicle liability policy or bond that covered the judgment debtor at the time of the motor vehicle accident is unable to satisfy the judgment in the amounts specified in Section 7-311;
        6. The judgment debtor presents to the Secretary of
    
State such certified documents or other proofs as the Secretary of State may require that all of the conditions set forth in this Section have been met.
(Source: P.A. 98-178, eff. 1-1-14.)