Illinois Statutes
§ 603 — Forfeiture of bond
Illinois § 603
JurisdictionIllinois
TopicBUSINESS AND EMPLOYMENT
Ch. 815BUSINESS TRANSACTIONS
Act 815 ILCS 620/Illinois Fair Invention Development Standards Act.
Art.Article VI - Financial Requirements
This text of Illinois § 603 (Forfeiture of bond) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
815 Ill. Comp. Stat. 603 (2026).
Text
The bond required by Section 601 of this Act shall be in favor of the State of Illinois for the benefit of any person who, after entering into a contract for invention development services with an invention developer, is damaged by fraud or dishonesty or failure to provide the services of the invention developer in performance of the contract. Any person claiming against the bond may maintain an action at law against the invention developer and the surety. The aggregate liability of the surety to all persons for all breaches of conditions of the bond provided herein shall in no event exceed the amount of the bond.
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Legislative History
(Source: P.A. 81-542.)
Nearby Sections
4
Cite This Page — Counsel Stack
Bluebook (online)
Illinois § 603, Counsel Stack Legal Research, https://law.counselstack.com/statute/il/815/603.