(625 ILCS 5/18c-4902) (from Ch. 95 1/2, par. 18c-4902)
Sec. 18c-4902.
Commission to Set Insurance Coverage Limits and Establish Procedures.
The Commission shall prescribe the amounts of insurance or surety
coverage required as a minimum, the maximum allowable deductible limits,
procedures for the filing and rejection or return of filings, and such other
reasonable regulations regarding insurance or surety coverage as are
necessary to protect the travelling and shipping or receiving public.
(Source: P.A. 85-553.)
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(625 ILCS 5/18c-4903) (from Ch. 95 1/2, par. 18c-4903)
Sec. 18c-4903.
Implied Terms of Insurance Coverage.
Each certificate or other proof of insurance or surety coverage
shall have, as an implied term, that the insurance or surety
coverage will remain in effect continuously until notice of
cancellation is filed in accordance with Commission regulations, and
that all motor vehicles operated by or under authority of the
carrier will be covered, whether or not such vehicles have been
reported to the insurance, surety, or other company. Filing
proof of insurance with the Commission shall constitute
acceptance of this implied term, and such acceptance may not
thereafter be withdrawn except on withdrawal of all proof of insurance
or surety coverage.
(Source: P.A. 85-553.)
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