91st General Assembly
Summary of SB0249
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Short description: 
BUS BROKRS-LIENS-REAL PROPERTY                                             

Synopsis of Bill as introduced:
        Amends the Illinois Business Brokers Act of 1995.  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. 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  lien  shall  attach  to  any  real      
   property  asset of a business until a notice of lien is filed with the      
   recorder of the county in which the real property  asset  is  located.      
   Provides  that  a  copy of that notice of lien shall be filed with the      
   Secretary of State and requires the Secretary of State  to  collect  a      
   fee for the filing.   Effective immediately.                                
          FISCAL NOTE (Secretary of State)                                     
          This legislation will have no fiscal impact on this Department.      
Last action on Bill: PUBLIC ACT.............................. 91-0194

   Last action date: 99-07-20

           Location: Senate

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


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