90th General Assembly Summary of SB1618    [ Home ]   [ Back ]   [ Legislation ]

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Senate Sponsors:
WALSH,T.

Short description: 
BUS BROKRS-LIENS-REAL PROPERTY                                             

Synopsis of Bill as introduced:
        Amends the Illinois Business Brokers Act of 1995.  In  provisions      
   authorizing  the  imposition  of  liens on the proceeds of a sale of a      
   business for amounts due a business broker, provides that no claim for      
   lien shall attach to any real property asset of a business  until  the      
   claim  for  lien is filed with the recorder of the county in which the      
   real property asset is located.  Provides that the Secretary of  State      
   shall  not  impose  a  fee on a business broker for filing a notice of      
   lien with  the  recorder  on  a  real  property  business  asset.   In      
   provisions  requiring  a  plaintiff suing to enforce a business broker      
   lien to  name  as  defendants  all  persons  whom  the  plaintiff  has      
   knowledge  are  interested  parties,  provides  that  the knowledge be      
   actual or constructive knowledge.  Effective immediately.                   
 
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 


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