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Illinois Statutes Chapter 205. Financial Regulation § 205/6005. General loan contract provisions

Current as of January 01, 2025 | Updated by Findlaw Staff

§ 6005. General loan contract provisions. Each loan and any agreement for securing the loan shall be evidenced by one or more written instruments, consistent with sound lending practices in the locality. Whenever recordation of an instrument is necessary to establish priority over the claim of any third party, the instrument shall be recorded.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 205. Financial Regulation § 205/6005. General loan contract provisions - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-205-financial-regulation/il-st-sect-205-205-6005/

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