735 ILCS 5/4-227

Current through Public Act 103-1052
Section 735 ILCS 5/4-227 - Remnants

Any portion of the sum so paid by the sheriff to the clerk, or of a deposit remaining after such distribution as hereinabove provided, shall be denominated remnants and surplus proceeds, and where any claim or complaint is filed against the same as provided in Part 2 of Article IV of this Act, distribution shall be directed by the court after judgment upon motion and notice, as provided in Section 4-226 of this Act, and after the following order:

FirstAll costs upon claims passing into judgment which were filed after distribution.

SecondAll other liens enforceable under Part 2 of Article IV of this Act against the water craft prior to distribution.

ThirdAll claims upon mortgages of such water craft or other incumbrances by the owner, in proportion to the interest they cover and priority.

FourthUpon petition of the creditor, all judgments against the owner, and which ought equitably to be paid out of the proceeds in preference to the owner.

FifthThe owner.

735 ILCS 5/4-227

P.A. 91-357, eff. 7/29/1999.