65 ILCS 5/11-31-2.3

Current through Public Act 103-1052

Section 65 ILCS 5/11-31-2.3 - Applicant's bond excused - receiver's bond excused

If a receiver is appointed pursuant to Section 11-31-2 of this Act, the applicant's bond shall be excused. The court also may excuse the surety on the receiver's bond upon a showing that the receiver is especially qualified for the appointment. Evidence of special qualifications shall include but not be limited to:

(a) satisfactory past performance as a receiver;

(b) prior real estate management or development experience;

(c) licensure or certification in a relevant profession or occupation; or

(d) specialized training as a receiver.

65 ILCS 5/11-31-2.3

P.A. 85-634.