205 ILCS 205/6005

Current through Public Act 103-1052
Section 205 ILCS 205/6005 - General loan contract provisions

Each loan and any agreement for securing the loan shall be evidenced by one or more written instruments, consistent with sound lending practices in the locality. Whenever recordation of an instrument is necessary to establish priority over the claim of any third party, the instrument shall be recorded.

205 ILCS 205/6005

P.A. 86-1213.