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91_HB2799
LRB9104533KSgc
1 AN ACT to amend the Illinois Vehicle Code by changing
2 Section 7-203.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Vehicle Code is amended by
6 changing Section 7-203 as follows:
7 (625 ILCS 5/7-203) (from Ch. 95 1/2, par. 7-203)
8 Sec. 7-203. Requirements as to policy or bond. No such
9 policy or bond referred to in Section 7-202 shall be
10 effective under this Section unless issued by an insurance
11 company or surety company authorized to do business in this
12 State, except that if such motor vehicle was not registered
13 in this State, or was a motor vehicle which was registered
14 elsewhere than in this State at the effective date of the
15 policy or bond, or the most recent renewal thereof, such
16 policy or bond shall not be effective under this Section
17 unless the insurance company or surety company, if not
18 authorized to do business in this State, shall execute a
19 power of attorney authorizing the Secretary of State to
20 accept service on its behalf of notice or process in any
21 action upon such policy or bond arising out of such motor
22 vehicle accident.
23 Unless otherwise provided for this Section However, every
24 such policy or bond is subject, if the motor vehicle accident
25 has resulted in bodily injury or death, to a limit, exclusive
26 of interest and costs, of not less than $20,000 because of
27 bodily injury to or death of any one person in any one motor
28 vehicle accident and, subject to said limit for one person,
29 to a limit of not less than $40,000 because of bodily injury
30 to or death of 2 or more persons in any one motor vehicle
31 accident, and, if the motor vehicle accident has resulted in
-2- LRB9104533KSgc
1 injury to or destruction of property, to a limit of not less
2 than $15,000 because of injury to or destruction of property
3 of others in any one motor vehicle accident.
4 For 5 years after a person's conviction for a violation
5 of Section 11-501 or a similar provision of a local
6 ordinance, the minimum limits of coverage for an insurance
7 policy or bond the person must carry is: (i) $40,000 for a
8 motor vehicle accident resulting in the bodily injury to or
9 death of one person, (ii) $80,000 for a motor vehicle
10 accident resulting in the bodily injury to or death of 2 or
11 more persons, and (iii) $30,000 for a motor vehicle accident
12 resulting in injury to or destruction of property of others.
13 Upon receipt of a written motor vehicle accident report
14 from the Administrator the insurance company or surety
15 company named in such notice shall notify the Administrator
16 within such time and in such manner as the Administrator may
17 require, in case such policy or bond was not in effect at the
18 time of such motor vehicle accident.
19 (Source: P.A. 85-730.)