Ill. Admin. Code tit. 92, § 1270.20 – Transfers Involving Immediate Family | Midpage
§ 1270.20
Ill. Admin. Code tit. 92, § 1270.20
Transfers Involving Immediate Family
AUTHORITY: Implementing Sections 18c-4301 and 18c-4306 and authorized by Section 18c-1202(9) of the Illinois Commercial Transportation Law (Ill. Rev. Stat. 1985, ch. 95½, pars. 18c-4301, 18c-4306, and 18c-1202(9)).ILLINOIS COMMERCE COMMISSION
a) Transfers to members of the transferor's "immediate family" shall be permitted without hearing only where the relationship between transferor and transferee is one of the following:
1) Husband-wife;
2) Parent-child (natural or legally adopted child); or
3) Sibling-sibling.
b) Other uses of the term "immediate family." When used in relation to a transaction other than a transfer to a member(s) of the transferor's immediate family, the term "immediate family" includes the person's spouse, parents, children, and siblings.