Illinois Compiled Statutes 55 ILCS 5/3-5045 – Scope of liability in connection with Uniform Commercial Code. No …
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Terms Used In Illinois Compiled Statutes 55 ILCS 5/3-5045
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
Scope of liability in connection with Uniform Commercial Code. No recorder nor any of the recorder’s employees or agents shall be subject to personal liability by reason of any error or omission in the performance of any duty under Article 9 of the Uniform Commercial Code except in case of willful negligence.