State of Illinois
Public Acts
92^nd General Assembly

Public Act 92-0097

SB1048 Enrolled                                LRB9202781DJgc

    AN ACT in relation to estates.

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

    Section  5.  The  Probate  Act  of  1975  is  amended  by
changing Section 20-7 as follows:

    (755 ILCS 5/20-7) (from Ch. 110 1/2, par. 20-7)
    Sec. 20-7.  Place and terms of sale.)
    (a)  The  court  may  designate  the  place and manner of
holding the sale, whether private or public, and whether  for
cash  or  on  reasonable credit. The sale may be conducted by
means of the Internet  or  any  other  electronic  medium  as
approved  by  the  court. When mining, oil or gas rights only
are sold, the court may require security of the purchaser and
may direct the sale to be made upon a royalty basis or for  a
lump sum in such manner and upon such terms as appears to the
court to be to the best interests of the estate.
    (b)  Every  public sale under this Article, except a sale
conducted by means of  the  Internet  or  another  electronic
medium,  shall  be held between the hours of 10:00 o'clock in
the forenoon and 5:00 o'clock in the afternoon  of  the  same
day.   Notice  of  the  time,  place and terms of holding the
sale, containing a description of the property sought  to  be
sold,  must  be  published  once  each  week for 3 successive
weeks, the first publication to be  not  less  than  25  days
prior  to the sale, in some newspaper published in the county
where the property sought to be sold,  or  the  greater  part
thereof, lies.
    A  sale  conducted  by  means  of the Internet or another
electronic medium shall be conducted according to  terms  and
notice  given  by  means  of the Internet or other electronic
medium.   The  notice  required  under  this  paragraph  must
include a statement that public access  to  the  Internet  is
available  at  public  libraries.   Any notice required under
this paragraph is in addition to any  other  notice  required
under this subsection (b).
(Source: P.A. 79-328.)

    Section  99.   Effective  date.  This Act takes effect on
July 1, 2001.
    Passed in the General Assembly April 26, 2001.
    Approved July 18, 2001.
    Effective July 18, 2001.