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| | 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 |
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Amends the Preference of Claims for Wages Act. Makes a technical change in
a Section concerning preferences.
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| | A BILL FOR |
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| | SB1117 | | LRB097 04835 AJO 44874 b |
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| 1 | | AN ACT concerning civil law.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Preference of Claims for Wages Act is |
| 5 | | amended by changing Section 1 as follows:
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| 6 | | (770 ILCS 85/1) (from Ch. 82, par. 63)
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| 7 | | Sec. 1.
When the
the business of any person, corporation, |
| 8 | | company or firm shall
be suspended by the action of creditors, |
| 9 | | or be placed in the custody of a
receiver or trustee, then in |
| 10 | | all such cases the debts owing to laborers or
servants which |
| 11 | | have accrued by reason of their labor or employment and all
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| 12 | | funds due and unpaid to the trustees for the beneficiaries of |
| 13 | | any pension
or retirement plan, shall be considered and treated |
| 14 | | as preferred claims,
and such laborers, employees or trustees |
| 15 | | shall be preferred creditors, and
shall be first paid in full, |
| 16 | | and if there be not sufficient to pay them in
full the same |
| 17 | | shall be paid from the proceeds of the sale of the property
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| 18 | | seized: Provided, that any person interested may contest any |
| 19 | | such claim or
claims, or any part thereof, by filing objections |
| 20 | | thereto, supported by
affidavit, with the officer having the |
| 21 | | custody of such property, and
thereupon the claimant shall be |
| 22 | | required to reduce his or her claim to
judgment in the circuit |
| 23 | | court before any part thereof shall be paid. |