(755 ILCS 5/19-3) (from Ch. 110 1/2, par. 19-3)
Sec. 19-3.
Mortgage of agricultural commodities.) By leave of
court, a representative of an estate eligible therefor may obtain a loan
and mortgage or pledge for a term of not to exceed one year agricultural
commodities as security for a loan pursuant to the provisions of the
federal Agricultural Adjustment Act of 1938, may execute and deliver
such evidences of indebtedness, security interests, pledges and other documents
as may be required in connection therewith, and may repay the
loan or deliver the commodity mortgaged or pledged therefor in
accordance with the terms upon which the loan is made. The proceeds of
the loan are personal estate in the hands of the representative.
(Source: P.A. 80-662.)
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