Daily Archives: August 7, 2008

Illinois House Passes HB 5204 For Effective Date Jan 1,2009

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As of January 1st 2009, New salvage legislation will be enacted.

The key points are:

Notwithstanding the foregoing, an
    insurer making payment of damages on a total loss claim for
    the theft of a vehicle shall not be required to apply for a
    salvage certificate unless the vehicle is recovered and has
    incurred damage that initially would have caused the
    vehicle to be declared a total loss by the insurer. 

 

And

 

Out-of-state salvage vehicle buyers
licensed in another state or jurisdiction may also buy property
at the auction.

HB 5204 Passes ( Click Here For Full Bill )

  8/5/2008 House Governor Approved
  8/5/2008 House Effective Date January 1, 2009
  8/5/2008 House Public Act . . . . . . . . . 95-0783