Bill Text: IL SB1117 | 2011-2012 | 97th General Assembly | Introduced

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Bill Title: Amends the Preference of Claims for Wages Act. Makes a technical change in a Section concerning preferences.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Failed) 2013-01-08 - Session Sine Die [SB1117 Detail]

Download: Illinois-2011-SB1117-Introduced.html

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

SB1117 - 2 - LRB097 04835 AJO 44874 b
(Source: P.A. 84-551.)