Illinois Compiled Statutes 765 ILCS 925 Notice of Prepayment of Federally Subsidized Mortgage Act. Section 7

    (765 ILCS 925/7) (from Ch. 67 1/2, par. 907)

    Sec. 7. An owner who fails to provide the notice to a tenant as required under Sections 5 and 6 of this Act shall pay a penalty to the tenant in the amount of $1,000. An owner who fails to provide the notice to a unit of local government as required under Section 5 of this Act shall pay a penalty to the unit of local government in the amount of $25,000.

(Source: P.A. 85-1438.)

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Last modified: February 18, 2015