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Illinois Statutes Chapter 815. Business Transactions § 180/45. No fiduciary relationship

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

§ 45. No fiduciary relationship. This Act does not impose a fiduciary relationship between the creditor and the debtor. Placement of collateral protection insurance is for the sole purpose of protecting the interest of the creditor when the debtor fails to insure collateral as required by the credit agreement.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 815. Business Transactions § 180/45. No fiduciary relationship - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-815-business-transactions/il-st-sect-815-180-45/

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