Illinois § 8-107 Authority to require replacement of bond

Illinois Statutes

§ 8-107 — Authority to require replacement of bond

Illinois·Topic TRANSPORTATION·Ch. 625 VEHICLES·Act 625 ILCS 5/ Illinois Vehicle Code.·Art. Chapter 8 - Motor Vehicles Used For Transportation Of Passengers

If, at any time, in the judgment of the Secretary of State, said bond is not sufficient for any good cause, he may require the owner of such motor vehicle who filed the same to replace said bond with another good and sufficient bond or insurance policy, in accordance with the provisions of this Act, and upon such replacement, the liability of the surety or sureties on such prior bond shall cease as to any injury or damage sustained after such replacement.

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If, at any time, in the judgment of the Secretary of State, said bond is not sufficient for any good cause, he may require the owner of such motor vehicle who filed the same to replace said bond with another good and sufficient bond or insurance policy, in accordance with the provisions of this Act, and upon such replacement, the liability of the surety or sureties on such prior bond shall cease as to any injury or damage sustained after such replacement.

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