MANDATORY VEH INSURANCE

Amends the Mandatory Insurance Article of the Illinois Vehicle Code. Provides that a person may not terminate a mandatory insurance policy unless he or she provides sufficient proof to the Director of Insurance and the Secretary of State that: (i) the person has obtained other insurance coverage, equivalent to the mandatory insurance; (ii) ownership of the motor vehicle has been transferred to another person; or (iii) the motor vehicle is in storage with the license plates removed and under the owner's control in such a way that the vehicle cannot legally be operated on roads in the State.