There is a newer version of the Illinois Compiled Statutes
2005 Illinois 625 ILCS 5/ Illinois Vehicle Code. Article VI - Credit Or Conditional Sales--Insurance
(625 ILCS 5/5‑601) (from Ch. 95 1/2, par. 5‑601)
Sec. 5‑601.
Credit or conditional sale of certain motor vehicles ‑ Liability insurance
status stamped on bill of sale.
Whenever, in connection with the credit sale of or conditional sale of a
motor vehicle designed and used for the carrying of not more than 10
passengers, the agreement provides that all or any of the consideration to
be paid by the buyer or conditional buyer may be paid more than 30 days
after possession of such motor vehicle is transferred to such buyer or
conditional buyer, and a policy of insurance which does not cover such
buyer or conditional buyer for the risk of liability to the public arising
out of the operation, use or maintenance of such motor vehicle, is issued
in connection with such transaction, the seller or conditional seller shall
stamp or have imprinted thereon a statement on the bill of sale at the time
the transaction is consummated that no such coverage is included in such
policy. Such statement shall be in the following form and shall be in bold
type not less than one‑half inch in height:
NO PUBLIC LIABILITY INSURANCE ISSUED
WITH THIS TRANSACTION
(Source: P.A. 76‑1586.)
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(625 ILCS 5/5‑602) (from Ch. 95 1/2, par. 5‑602)
Sec. 5‑602.
Whoever violates any of the provisions of this Article shall be guilty
of a petty offense and shall be fined not more than $500.
(Source: P. A. 77‑2720.)
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