Illinois § 8-108 Insurance policy as bond

Illinois Statutes

§ 8-108 — Insurance policy as bond

Illinois § 8-108

JurisdictionIllinois

TopicTRANSPORTATION

Ch. 625VEHICLES

Act 625 ILCS 5/Illinois Vehicle Code.

Art.Chapter 8 - Motor Vehicles Used For Transportation Of Passengers

This text of Illinois § 8-108 (Insurance policy as bond) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

625 Ill. Comp. Stat. 8-108 (2026).

Text

A policy of insurance in a solvent and responsible company authorized to do business in the State of Illinois, and having admitted net assets of not less than $300,000 insuring the owner, his agent or any person operating the motor vehicle with the owner's express or implied consent against liability for any injury to or death of any person or for damage to property other than the motor vehicle resulting from the negligence of such owner, his agent or any person operating the vehicle with his express or implied consent, when accepted by the Secretary of State, shall be proof of financial responsibility as required by Section 8-101 or 8-101.1.

Free access — add to your briefcase to read the full text and ask questions with AI

A policy of insurance in a solvent and responsible company authorized to do business in the State of Illinois, and having admitted net assets of not less than $300,000 insuring the owner, his agent or any person operating the motor vehicle with the owner's express or implied consent against liability for any injury to or death of any person or for damage to property other than the motor vehicle resulting from the negligence of such owner, his agent or any person operating the vehicle with his express or implied consent, when accepted by the Secretary of State, shall be proof of financial responsibility as required by Section 8-101 or 8-101.1.