(625 ILCS 5/7-201)
(from Ch. 95 1/2, par. 7-201)
Application of Article II.
The Administrator as soon as practicable after the receipt of the
report, required to be filed under Sections 11-406 and 11-410, of a motor
vehicle accident occurring within this State and that has resulted in
bodily injury or death of any person or that damage to the property of
any one person in excess of $1,500 (or $500 if any of the vehicles involved in the accident is subject to Section 7-601 but is not covered by a liability insurance policy in accordance with Section 7-601) was sustained, shall determine:
1. Whether Section 7-202 of this Code requires the
deposit of security by or on behalf of any person who was the operator or owner of any motor vehicle in any manner involved in the accident; and
2. What amount of security shall be sufficient to
satisfy any potential judgment or judgments for money damages resulting from the accident as may be recovered against the operator or owner, which amount shall in no event be less than $1,500 (or $500 if any of the vehicles involved in the accident is subject to Section 7-601 but is not covered by a liability insurance policy in accordance with Section 7-601).
(Source: P.A. 95-754, eff. 1-1-09.)