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625 ILCS 5/3-816
(625 ILCS 5/3-816) (from Ch. 95 1/2, par. 3-816)
Sec. 3-816.
Installment Payments.
(a) The flat weight tax required to be paid by Section 3-815 for any
vehicles on a calendar year basis may be paid if the owner so elects, in equal
semi-annual installments due on January 1 and July 1 of each licensing year.
Effective with the 1984 registration year the owners of semitrailers registered
under Section 3-814 shall have the option of paying the designated fees to the
Secretary in the following manner:
If registered in the first year the owner shall have the option of paying
$30 the first year and the remaining $30 by the start of the second year;
If registered in the second year the owner shall have the option of paying
$24 the first year and the remaining $24 by the start of the third year;
If registered in the third year the owner shall pay $36 for each semitrailer;
If registered in the fourth year the owner shall pay $24 for each semitrailer; and
If registered in the fifth year the owner shall pay $12 for each semitrailer.
Every such owner who elects to pay such tax in such installments shall file
with the Secretary of State a surety bond or certificate of deposit, as
hereinafter provided, in the amount of the sum of the second installment
of taxes on his vehicle.
Such bond shall be in the form approved by the Secretary of State and
with a surety company approved by the Department of Insurance to
transact business in this State, as surety, and shall be conditioned
upon such owner's paying to the State of Illinois all monies becoming
due by reason of his operation of the second division motor vehicle in
this State, together with all penalties and interest thereon.
The State Treasurer shall issue a certificate of deposit to any such
owner who deposits with the State Treasurer securities of the Federal
Government or the State of Illinois endorsed in blank by such owner, or
a certificate of deposit issued by any bank or savings and loan association
authorized to do business in Illinois, payable to the Secretary of State on or
after July 1 of the year of registration. Such certificate of deposit and
securities shall be approved by and deposited with the State Treasurer, and
shall have a current market value in the total amount which would cover all
monies becoming due and payable to the State of Illinois by reason of his
operation of a second division motor vehicle in this State, together with all
penalties and interest thereon.
The liability of the surety hereunder shall be absolute and upon
notice from the Secretary of State that the second installment has not
been paid on July 1 of any licensing year the surety shall immediately
pay the second installment to the Secretary of State.
Upon notice by the Secretary of State that the second installment of
such owner's taxes has not been paid on July 1 of any licensing year,
the State Treasurer shall sell such securities and deliver the proceeds
thereof to the Secretary of State to satisfy all monies becoming due by
reason of such owner's operation of a second division motor vehicle in
this State, together with all penalties and interest thereon.
If the owner's liability for the second installment is evidenced by a
certificate of deposit payable to the Secretary of State, the Secretary
of State shall, upon failure of the owner to pay the second installment
by July 1, endorse the certificate of deposit which is in the custody of
the State Treasurer, and thereafter the State Treasurer shall present
the certificate of deposit for payment to the proper bank or savings and
loan association. Upon receipt of payment, the State Treasurer shall forward
to the Secretary of State all monies due by reason of such owner's operation of
a second division motor vehicle in this State, and return the excess, if any,
to the owner on whose behalf the certificate of deposit was previously
deposited.
The State Treasurer shall return securities or proceeds in excess of
that needed to satisfy the Secretary of State for all monies becoming
due by reason of such owner's operation of a second division motor
vehicle in this State, together with all penalties and interest thereon.
Upon notice by the Secretary of State that the second installment has
been paid, the State Treasurer shall return such certificate of deposit
or securities deposited with him under this Section to the owner
thereof.
(b) The flat weight tax required by Section 3-815 to be paid on a fiscal
year basis may be paid, if the owner so elects, in equal semi-annual
installments due on July 1st and January 1st of each registration year. From
July 1, 1983 through November 30, 1983, the flat weight tax required
by Section
3-814 for semitrailers previously registered on a fiscal year basis may be
paid, if the owner so elects, by paying the Secretary of State $33 at the time
of registration and the remaining $25 by January 1, 1985 for each 5 1/2 year
semitrailer plate. Every such owner who elects to pay such tax in such
installments shall file with the Secretary of State a surety bond or
certificate of deposit, as hereinafter provided, in the amount of the sum of
the second installment of taxes on his vehicle.
Such bond shall be in the form approved by the Secretary of State and
with a surety company approved by the Department of Insurance to
transact business in this State, as surety, and shall be conditioned
upon such owner's paying to the State of Illinois all monies becoming
due by reason of his operation of the second division motor vehicle in
this State, together with all penalties and interest thereon.
The liability of the surety hereunder shall be absolute and upon
notice from the Secretary of State that the second installment has not
been paid on January 1st of any registration year the surety shall
immediately pay the second installment to the Secretary of State.
Upon notice by the Secretary of State that the second installment of
such owner's taxes has not been paid on January 1st of any registration
year, the State Treasurer shall sell such securities and deliver the
proceeds thereof to the Secretary of State to satisfy all monies
becoming due by reason of such owner's operation of a second division
motor vehicle in this State, together with all penalties and interest
thereon.
If the owner's liability for the second installment is evidenced by a
certificate of deposit payable to the Secretary of State, the Secretary
of State shall, upon failure of the owner to pay the second installment
by January 1st, endorse the certificate of deposit which is in the
custody of the State Treasurer, and thereafter the State Treasurer shall
present the certificate of deposit for payment to the proper bank or savings
and loan association. Upon receipt of payment, the State Treasurer shall
forward to the Secretary of State all monies due by reason of such owner's
operation of a second division motor vehicle in this State, and return the
excess, if any, to the owner on whose behalf the certificate of deposit was
previously deposited.
The State Treasurer shall return securities or proceeds in excess of
that needed to satisfy the Secretary of State for all monies becoming
due by reason of such owner's operation of a second division motor
vehicle in this State, together with all penalties and interest thereon.
Upon notice by the Secretary of State that the second installment has
been paid, the State Treasurer shall return such certificate of deposit
or securities deposited with him under this Section to the owner
thereof.
(c) The flat weight tax required under Section 3-815 for vehicles
registered in accordance with Section 3-402.1 may be paid, if the owner
elects, in equal semi-annual installments due on April 1 and October 1 of
each licensing year.
(d) In the event any surety pays for any second installment under
this Section, the surety shall have recourse only against the principal
and owner of the vehicles involved and shall have no right or privilege
to demand revocation or suspension of the registration plates
or registration stickers of the vehicles involved. Such surety may, however,
impress a lien as provided in Section 3-828.
(Source: P.A. 91-357, eff. 7-29-99.)
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