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What is the financial responsibility law in Illinois?

Financial Responsibility Insurance is required in Illinois for individuals with safety responsibility suspensions, unsatisfied judgment suspensions, revocations, mandatory insurance supervisions and individuals who receive three or more convictions for mandatory insurance violations.

What is an unsatisfied Judgement?

unsatisfied judgment means a judgment or order (by whatever name called) in respect of a relevant liability which has not been satisfied in full within seven days from the date upon which the claimant became entitled to enforce it.

What does the financial responsibility law require drivers to do?

Financial responsibility law (commonly associated with vehicles) requires an individual or business to prove that they have enough money or assets to pay for damages resulting from an accident.

What is discretionary suspension Illinois?

Discretionary authority to suspend or revoke license or permit; right to a hearing. (a) The Secretary of State is authorized to suspend or revoke the driving privileges of any person without preliminary hearing upon a showing of the persons records or other sufficient evidence that the person: 1.

What is the Illinois Safety Responsibility Act?

The Safety Responsibility Law requires proof of insurance or the ability to pay for damages resulting from an accident in Illinois resulting in bodily injury or death of any person, or damage to the property of any one person in excess of $500.

What is evidence of financial responsibility?

In California, the term financial responsibility law refers to the requirement that you carry proof of your ability to cover damages you may inflict in the event of a traffic accident. This usually means proof of auto insurance.

What is an example of a financial responsibility law?

For example, Californias financial responsibility law requires auto insurance companies to provide a minimum standard of $15,000 for a single injury or death, $30,000 for injury to, or death of, more than one person in a single accident, as well as $5,000 for property damage.

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