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90th General Assembly

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Public Act 90-0321

SB764 Enrolled                                 LRB9003288SMmb

    AN ACT to amend the Actions to  Enforce  Payment  Act  by
adding Section 6.

    Be  it  enacted  by  the People of the State of Illinois,
represented in the General Assembly:

    Section 5.  The Actions to Enforce Payment Act is amended
by adding Section 6 as follows:

    (815 ILCS 115/6 new)
    Sec. 6.   Guarantor  liability.   When  a  guarantor  has
agreed  in  writing  that  the guarantor is not released by a
judgement,  settlement,  release,  or  other   discharge   of
indebtedness  of  the  primary  obligor,  other guarantor, or
third party liable on the indebtedness,  then  the  judgment,
settlement,  release,  or  other discharge of indebtedness of
the primary obligor, other guarantor, or third  party  liable
on  the  indebtedness shall not release or limit the claim on
the indebtedness, or  cause  the  forfeiture,  discharge,  or
extinction  of  the  claim  on  the indebtedness, against the
guarantor, provided that the plaintiff shall not be  entitled
to more than full satisfaction of his, her, or its claim.

    Section  99.  Effective date.  This Act takes effect upon
becoming law.
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