The driver of a vehicle intending to turn to the left within an intersection or into an alley, private road, or driveway shall yield the right-of-way to any vehicle approaching from the opposite direction which is so close as to constitute an immediate hazard, but the driver, having so yielded, may proceed as soon as a safe interval occurs.
(ILCS Ch. 625, Act 5, § 11-902) ('74 Code, § 17-96) Penalty, see § 70.99