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Mechanic's Lien Law and Construction Financing Study Commission - RG 591 | Illinois State Archives

Name: Mechanic's Lien Law and Construction Financing Study Commission - RG 591


Historical Note: The Mechanic's Lien Law and Construction Financing Study Commission was created by the General Assembly in 1969 to study the state's existing mechanic's lien law and the various forms of construction financing to determine the feasibility of improving or revising that law and the various methods of construction financing. It was to study court interpretations of the lien law and construction financing and consider the feasibility of divorcing the regulation of claims for mechanic's liens against public projects from the mechanic's lien procedure for private work. In so doing it was to consider the best method of protecting owners of real estate, contractors, subcontractors, material men, and lenders alike while not imposing regulations which might impede either construction or the financing of construction. It was composed of five members of the House, five members of the Senate, and four members of the public, all appointed by the legislative leadership. The commission was to report its recommendations to the General Assembly by February 1, 1971 and then pass from existence on July 1, 1971 (P.A. 76-798, pp. 1629-1631).





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