a) For
purposes of this Section, the following definitions shall apply:
"Covenant Not to Sue" - a common law action by one who had a
right of action against another person whereby he/she agrees not to enforce the
right of action.
"Department" - Department of Driver Services within the Office
of the Secretary of State.
"Release" - legal document which represents the relinquishment
or the giving up of a right or claim by a person to the person against whom it
might have been demanded or enforced.
b) A person shall be released from the
requirement for the deposit of security required by Section 7-201 of the
Illinois Safety Responsibility Law [
625 ILCS
5/7-201 ] if there is satisfactory evidence filed with
the Department that the person has been released from liability. Satisfactory
evidence shall include the following:
1) A
notarized release signed by the interested party or authorized
representative.
2) A notarized
release signed by the interested party's parent or legal guardian if the
interested party is a minor.
3) A
notarized release signed by the administrator or executor of the interested
party's estate if the interested party is deceased and a certified court order
naming the person as administrator or executor of the estate or a notarized
affidavit or heirship.
4) A
notarized covenant not to sue signed by the interested party or his/her
authorized representative.
c) A person shall also be released from the
requirements for the deposit of security required by Section 7-201 of the
Illinois Safety Responsibility Law if there is satisfactory evidence filed with
the Department that there has been a final adjudication of non-liability.
Satisfactory evidence shall include a certified court order stipulating that
the person otherwise required to deposit security is not liable as a result of
the accident.
d) The Department
shall also accept a certified copy of a satisfaction of judgment, a judgment
note, or a court order dismissing the case because all matters have been
settled to release a person of the requirement for the deposit of security
required by Section 7-201 of the Illinois Safety Responsibility Law. Evidence
of settlement shall also be accepted by the Department in the form of a bill
for repair marked paid or a cancelled check(s) indicating full
payment.
