HB6764 93RD GENERAL ASSEMBLY

LRB093 14785 DRH 40341 b

93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB6764

Introduced 02/09/04, by Lou Lang

SYNOPSIS AS INTRODUCED:

625 ILCS 5/7-203

from Ch. 95 1/2, par. 7-203

Amends the Illinois Vehicle Code. Increases by a multiple of 5 the liability insurance coverage that a driver must carry in order to be exempt from the requirement of posting security after an accident involving death, bodily injury, or more than $500 in damage to the property of any one person. Requires the following minimum coverage amounts: (i) $100,000 for a motor vehicle accident resulting in the bodily injury to or death of one person, (ii) $200,000 for a motor vehicle accident resulting in the bodily injury to or death of 2 or more persons, and (iii) $75,000 for a motor vehicle accident resulting in injury to or destruction of property of others. Effective immediately.

A BILL FOR

AN ACT concerning vehicles.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Vehicle Code is amended by changing Section 7-203 as follows:

(625 ILCS 5/7-203) (from Ch. 95 1/2, par. 7-203)

Sec. 7-203. Requirements as to policy or bond. No such policy or bond referred to in Section 7-202 shall be effective under this Section unless issued by an insurance company or surety company authorized to do business in this State, except that if such motor vehicle was not registered in this State, or was a motor vehicle which was registered elsewhere than in this State at the effective date of the policy or bond, or the most recent renewal thereof, such policy or bond shall not be effective under this Section unless the insurance company or surety company, if not authorized to do business in this State, shall execute a power of attorney authorizing the Secretary of State to accept service on its behalf of notice or process in any action upon such policy or bond arising out of such motor vehicle accident. However, every such policy or bond is subject, if the motor vehicle accident has resulted in bodily injury or death, to a limit, exclusive of interest and costs, of not less than $100,000 $20,000 because of bodily injury to or death of any one person in any one motor vehicle accident and, subject to said limit for one person, to a limit of not less than $200,000 $40,000 because of bodily injury to or death of 2 or more persons in any one motor vehicle accident, and, if the motor vehicle accident has resulted in injury to or destruction of property, to a limit of not less than $75,000 $15,000 because of injury to or destruction of property of others in any one motor vehicle accident.

Upon receipt of a written motor vehicle accident report from the Administrator the insurance company or surety company named in such notice shall notify the Administrator within such time and in such manner as the Administrator may require, in case such policy or bond was not in effect at the time of such motor vehicle accident.

(Source: P.A. 85-730.)

Section 99. Effective date. This Act takes effect upon becoming law.