(35 ILCS 200/21-215)
Sec. 21-215. Penalty bids. The person at the sale offering to pay the amount due on each property for the least penalty percentage shall be the purchaser of that property. No bid shall be accepted for a penalty exceeding 18% of the amount of the tax or special assessment on property.
(Source: P.A. 86-1431; 86-1480; 88-455.)
Sections: Previous 21-180 21-185 21-190 21-195 21-200 21-205 21-210 21-215 21-220 21-225 21-230 21-235 21-240 21-245 21-250 Next
Last modified: February 18, 2015