Ill. Admin. Code tit. 92, § 1360.20 - Definitions
"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
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.