Illinois General Assembly - Illinois Compiled Statutes

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105 ILCS 105/15a

(105 ILCS 105/15a) (from Ch. 122, par. 1415a)

Sec. 15a.

Contractor's Certificates of Financial Responsibility.

Each
contractor wishing to be placed on the Department's approved list of
contractors shall submit to the Department a certificate documenting that the
contractor carries liability insurance, self insurance, group insurance,
group self insurance, a letter of credit or bond in an amount of at least
$500,000 for work
performed pursuant to the Asbestos Abatement Act and the rules promulgated
thereunder.  No contractor may be placed on the approved list in the absence
of such a certificate.  All contractors presently on the approved list shall
submit said certificate within 90 days of the effective date of this
amendatory Act of 1985, or the Department shall remove their names
from the approved list.

Each contractor shall maintain on file with the Department a current
certificate of financial responsibility throughout the entire length of time the
contractor's name appears on the Department's list of approved contractors.
 A contractor shall notify the Department of any change in the status of a
certificate which has been filed including expiration, renewal, or
alteration of the terms of the certificate.

(Source: P.A. 84-1096.)