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. 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 at:
Illinois Attorney General’s Office 500 South Second Street Springfield, IL 62701 Please arrive a few minutes early to check in with security inside the Second Street entrance. OrIllinois Secretary of State’s Office 115 S. LaSalle Street, Chicago, IL 60603 Please arrive early to check in with security at the front door/entrance on the 1st Floor, indicate that you are here for the DRTF meeting, and provide a driver’s license or ID.