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(625 ILCS 5/3-113)
(from Ch. 95 1/2, par. 3-113)
Transfer to or from dealer; records.
(a) After a dealer buys a vehicle and holds it for resale, the
dealer must procure the
certificate of title from the owner or the lienholder. The dealer may hold
the certificate until he or she transfers the vehicle to another person.
Upon transferring the vehicle to another person,
the dealer shall promptly and within 20
execute the assignment and warranty of title by a dealer, showing the names and
addresses of the transferee and of any lienholder holding a security interest
created or reserved at the time of the resale, in the spaces provided therefor
on the certificate or as the Secretary of State prescribes, and mail or deliver
the certificate to the Secretary of State with the transferee's application for
a new certificate, except as provided in Section 3-117.2.
A dealer has complied with this Section if the date of the mailing of the certificate, as indicated by the postmark, is within 20 days of the date on which the vehicle was transferred to another person.
(b) The Secretary of State may decline to process any application for a
transfer of an interest in a vehicle if any fees or taxes due under this
Code from the transferor or the transferee have not been paid upon
reasonable notice and demand.
(c) Any person who violates this Section shall be guilty of a petty offense.
(d) Beginning January 1, 2014, the Secretary of State is authorized to impose a delinquent vehicle dealer transfer fee of $20 if the certificate of title is received by the Secretary from the dealer 30 days but less than 60 days after the date of sale. If the certificate of title is received by the Secretary from the dealer 60 days but less than 90 days after the date of sale, the delinquent dealer transfer fee shall be $35. If the certificate of title is received by the Secretary from the dealer 90 days but less than 120 days after the date of sale, the delinquent vehicle dealer transfer fee shall be $65. If the certificate of title is received by the Secretary from the dealer 120 days or more after the date of the sale, the delinquent vehicle dealer transfer fee shall be $100. All monies collected under this subsection shall be deposited into the CDLIS/AAMVAnet/NMVTIS Trust Fund.
(Source: P.A. 98-177, eff. 1-1-14.)