(770 ILCS 50/4) (from Ch. 82, par. 47d)
Sec. 4.
If the chattel or chattels are not redeemed within 30 days after
the publication of the notice required by Section 3 of this Act, the
lienor may sell such articles at a commercially reasonable public or
private sale conducted so as to maximize the net proceeds of said sale on
the day and at the place specified in such notice. The proceeds of the sale
in excess of the charges for the expenditure of such labor, services,
skill, or material or furnishing of storage, and the necessary expenses of
the procedure required by this Act, shall be held by the lienor for a
period of 6 months, and if not reclaimed by the owner thereof within that
time shall be deposited with the county treasurer of the county in which
such labor, services, skill or materials were expended or such storage was
furnished. The said treasurer shall credit such excess to the general
revenue fund of the county, subject to the right of the owner or his
representatives to reclaim the same at any time within 3 years of the date
of such deposit with the treasurer.
(Source: P.A. 85-1283.)
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