Comments: IL SB0062 | 2019-2020 | 101st General Assembly
Bill Title: Amends the Recorder Division of the Counties Code. Modifies how a county recorder determines if a lien is an expired lien under a county's demand and referral program by providing that a lien is expired if a suit to enforce the lien has not been commenced or a counterclaim has not been filed by the lienholder within 2 years after the completion date of the contract as specified in the recorded mechanics lien. Provides that the 2-year period shall be increased to the extent that an automatic stay under specified provisions of the United States Bankruptcy Code stays a suit or counterclaim to foreclose the lien or, if a work completion date is not specified in the recorded lien, then the work completion date is the date of recording of the mechanics lien. Effective immediately.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Passed) 2019-08-09 - Public Act . . . . . . . . . 101-0296 [SB0062 Detail]
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Passed) 2019-08-09 - Public Act . . . . . . . . . 101-0296 [SB0062 Detail]
Text: Latest bill text (Chaptered) [HTML]
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