Bill Text: IL SB1067 | 2013-2014 | 98th General Assembly | Introduced
Bill Title: Amends the Preference of Claims for Wages Act. Makes a technical change in a Section concerning preferences.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2015-01-13 - Session Sine Die [SB1067 Detail]
Download: Illinois-2013-SB1067-Introduced.html
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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. |
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1 | (Source: P.A. 84-551.)
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