97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB1117

 

Introduced 2/8/2011, by Sen. John J. Cullerton

 

SYNOPSIS AS INTRODUCED:
 
770 ILCS 85/1  from Ch. 82, par. 63

    Amends the Preference of Claims for Wages Act. Makes a technical change in a Section concerning preferences.


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A BILL FOR

 

SB1117LRB097 04835 AJO 44874 b

1    AN ACT concerning civil law.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Preference of Claims for Wages Act is
5amended by changing Section 1 as follows:
 
6    (770 ILCS 85/1)  (from Ch. 82, par. 63)
7    Sec. 1. When the the business of any person, corporation,
8company or firm shall be suspended by the action of creditors,
9or be placed in the custody of a receiver or trustee, then in
10all such cases the debts owing to laborers or servants which
11have accrued by reason of their labor or employment and all
12funds due and unpaid to the trustees for the beneficiaries of
13any pension or retirement plan, shall be considered and treated
14as preferred claims, and such laborers, employees or trustees
15shall be preferred creditors, and shall be first paid in full,
16and if there be not sufficient to pay them in full the same
17shall be paid from the proceeds of the sale of the property
18seized: Provided, that any person interested may contest any
19such claim or claims, or any part thereof, by filing objections
20thereto, supported by affidavit, with the officer having the
21custody of such property, and thereupon the claimant shall be
22required to reduce his or her claim to judgment in the circuit
23court before any part thereof shall be paid.

 

 

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1(Source: P.A. 84-551.)