Illinois § 11-31-2.3

Illinois Statutes

§ 11-31-2.3

JurisdictionIllinois

TopicGOVERNMENT

Ch. 65MUNICIPALITIES

Act 65 ILCS 5/Illinois Municipal Code.

Art.Art 11 prec Div 30 - Control Over Building and Construction

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Bluebook

65 Ill. Comp. Stat. 11-31-2.3 (2026).

Text

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.

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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.