Ill. Admin. Code tit. 92, § 1360.20 - Definitions
Current through Register Vol. 46, No. 15, April 8, 2022
"Addendum." A supplement to an existing lease.
"Authorized carrier." A person holding a motor carrier of property license from the Commission.
"Equipment." A motor vehicle, straight truck or tractor.
"Lease." A written document vesting possession, use, control and responsibility in the lessee during the periods the vehicle is operated by or for the lessee.
"Lessee." In a lease, the party acquiring the use of equipment, with or without driver, from another.
"Lessor." In a lease, the party granting the use of equipment, with or without driver, to another.
"Owner." A person
to whom title to equipment has been issued, or
who, without title, has the right to exclusive use of equipment for a period longer than 30 days, or
who has lawful possession of equipment, registered and licensed in any state in the name of that person.
"Permanent lease." A lease in which the authorized carrier acquires the use of equipment, with or without driver, from an owner for a period of 30 days or more.
"Shipper." A person who sends or receives property which is transported in intrastate commerce.
"Sublease." A written document in which the lessee grants the use of leased equipment, with or without driver.
"Trip lease." A lease in which the authorized carrier acquires the use of equipment, with or without driver, from an owner for a period of time less than 30 days.
Notes
Amended at 11 Ill. Reg. 16447, effective October 1, 1987
The following state regulations pages link to this page.
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.