Dealer Recovery Trust Fund Board
Illinois law, HB 880 requires automobile and motorcycle dealers to pay $500 annually into a Dealer Recovery Trust Fund (“Fund”) to be used to pay off vehicles traded-in to dealerships that close. The Fund could also be used when a vehicle is purchased from a dealership that closes and sells a vehicle with an undisclosed lien.
The law established a board, which is anticipated to meet at least quarterly each year at the Office of the Illinois Attorney General, 500 South Second Street, Springfield, Illinois. A notice of the date and place of the meetings, as well as the agenda, will be available at the Office of the Illinois Attorney General.
Dealer Recovery Trust Fund Meetings
Meetings are scheduled to be at 1:00 pm in the Springfield office located at 500 S. 2nd Street