Building and Loan Receivership Fee Act (705 ILCS 230/)

Chapter 705 — Courts

Attorneys

This text is maintained by the Legislative Reference Bureau for legislative drafting purposes and is NOT the official text of the Illinois Compiled Statutes; the only official copy is the printed copy maintained by the Secretary of State.

Sec. 0.01. Short title

This Act may be cited as the Building and Loan Receivership Fee Act.

(Source: P.A. 86-1324.)

Sec. 1.

In all cases in the courts in this State wherein receivers or custodians are or may be hereafter appointed to take charge of the assets of any building and loan association, the fees to be allowed for all services, clerk hire and expenses of such receivers or custodians shall not exceed 3% of the funds handled by such receiver or custodian, to be paid out of the assets. Any such receiver may be allowed by the court such further amounts for attorney's fees for services rendered, as the court may determine, not exceeding the sum of $20 per day for actual time of service:

However, in no case shall the fees to be allowed for attorney's services exceed the sum of $1,000.00, except as to the separate fees to be allowed in cases of foreclosure of mortgages or trust deeds, which may be allowed in accordance with the terms of mortgage in each particular case. Any receiver or custodian violating any of the provisions of this Act shall be guilty of a Class C misdemeanor.

(Source: P.A. 77-2386.)