Ill. Admin. Code tit. 92, § 1010.120 - Salvage Certificate - Assignments and Reassignments
In order to implement and clarify the provisions of Section 3-118 as to the number of assignments and reassignments of Salvage Certificates permitted by the Illinois Vehicle Code, the following information shall serve as a guide to the Secretary of State in making such determination:
a) A salvage certificate may be assigned to
any dealer licensed as a Rebuilder, Automotive Parts Recycler, Scrap Processor
or an out-of-state Salvage Vehicle Buyer under the Illinois Vehicle Code. Only
one reassignment of that certificate is permissible and that reassignment shall
be only to a dealer licensed under the Illinois Vehicle Code.
b) A transfer or assignment to an individual
other than a licensed dealer under the Illinois Vehicle Code must be by means
of a certificate of title which is in the name of the licensed
dealer.
Notes
Amended at 32 Ill. Reg. 17253, effective October 15, 2008
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