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92_HB4925
LRB9214315DHgc
1 AN ACT in relation to vehicles.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Illinois Vehicle Code is amended by
5 adding Section 7-601.1 as follows:
6 (625 ILCS 5/7-601.1 new)
7 Sec. 7-601.1. Records of all policies in effect.
8 (a) By July 1, 2003, all licensed insurance companies in
9 this State shall provide to the Secretary a record of all
10 motor vehicle liability policies in effect on the date the
11 information is provided. Before the seventh working date of
12 each calendar month, each insurer that issues a motor vehicle
13 liability policy shall provide to the Secretary a record of
14 each policy issued, canceled, terminated, suspended, or
15 revoked during the immediately preceding month. This
16 subsection (a) does not prohibit more frequent reporting.
17 (b) The record required under subsection (a) includes
18 the following:
19 (1) The name, date of birth, driver's license
20 number, and address of each insured owner and operator.
21 (2) The make, year, and vehicle identification
22 number of each insured motor vehicle.
23 (3) The policy number, effective date, and
24 expiration date of the policy.
25 (c) The Secretary shall notify the Department of
26 Insurance of any insurer who violates any provision of this
27 Section. The Department of Insurance may assess a fine of not
28 more than $1,000 per day of noncompliance against any insurer
29 who fails to comply with this Section. The Department of
30 Insurance shall excuse the fine if an assessed insurer
31 provides acceptable proof that the insurer's noncompliance
-2- LRB9214315DHgc
1 was inadvertent, accidental, or the result of excusable
2 neglect.