Illinois Compiled Statutes 815 ILCS 307/10-105 – Scope of the Act
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Terms Used In Illinois Compiled Statutes 815 ILCS 307/10-105
- Lien: A claim against real or personal property in satisfaction of a debt.
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
This Act shall apply only when the person engaging or seeking to engage the business broker is domiciled in this State or when the company or business sought to be sold has its principal place of business in this State. Notwithstanding any other provision of this Section, a lien on property arising under Section 10-115 is enforceable only against tangible property located in this State.