VEH CD-DEPOSIT OF SECURITY

Amends the Illinois Vehicle Code. Provides that a driver's license or registration and nonresident's operating privilege that is suspended for failure to deposit security shall remain suspended until the statute of limitations has expired and the person seeking reinstatement provides evidence that, during the statute of limitations period, no action for damages arising out of a motor vehicle accident has been properly filed. Provides that the security shall be applicable only to the payment of a judgment, rendered against the person on whose behalf the deposit was made, for damages arising out of the accident in question, in an action at law, begun not later than the later of (i) the expiration of the relevant statute of limitations or (ii) 2 years after the date of any default in any payment under an installment agreement for payment of damages (rather than begun not later than 2 years after the later of (i) the date the driver's license and registration were suspended following the accident or (ii) the date of any default in any payment under an installment agreement for payment of damages). Makes a conforming change.