Bill Title: Amends the Mechanics Lien Act. Provides that an agreement to subordinate a lien under the Act where the agreement is in anticipation of and in consideration for the awarding of a contract or subcontract, either express or implied, to perform work or supply materials for an improvement upon real property is against public policy and unenforceable. Deletes language providing that certain subordination provisions of contracts is not binding on the subcontractor unless set forth in its entirety in writing in the contract between the contractor and subcontractor or material supplier. Makes corresponding changes.

Spectrum: Partisan Bill (Democrat 5-0)

Status: (Passed) 2014-07-16 - Public Act . . . . . . . . . 98-0764 [SB3023 Detail]

Text: Latest bill text (Chaptered) [HTML]

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