a) Motor carrier or property licenses are conditioned upon compliance with Commission regulations regarding:

1. 1) Filing proof of insurance bond or coverage (92 Ill. Adm. Code 1425);
2. 2) Payment of franchise fees (92 Ill. Adm. Code 1205);
3. 3) Filing rates (92 Ill. Adm. Code 1225); and
4. 4) Filing contracts if the license conveys authority to operate as a contract carrier.

b) Motor carrier of property registrations are conditioned upon compliance with Commission regulations regarding:

1. 1) Filing proof of insurance or bond coverage; and
2. 2) Payment of franchise fees.