IL SB2081

Amends Section 3-118.1 of the Illinois Vehicle Code concerning certificates of title and salvage certificates.

Requires new certificates of title for vehicles previously issued a salvage certificate to bear the notation "REBUILT".

Allows insurance companies and licensed vehicle dealers (holding both Section 5-301 and 5-102 licenses) to obtain a certificate of title without the "REBUILT" notation if the salvage certificate resulted from a theft claim and the recovered vehicle has no structural damage from collision, fire, flood, theft, rust, or corrosion.

Authorizes the Secretary of State to adopt rules governing the issuance of titles under this section.