Illinois Compiled Statutes 815 ILCS 105 Promissory Note and Bank Holiday Act. (Part 1) Section 5

    (815 ILCS 105/5) (from Ch. 17, par. 603)

    Sec. 5. Any assignee to whom such sum of money or personal property is, by such indorsement or indorsements, made payable, or in case of the death of such assignee, his executor or administrator, may, in his own name, institute and maintain the same kind of action for the recovery thereof, against the person who made and executed any such note, bond, bill or other instrument in writing, or against his heirs, executors or administrators, as might have been maintained against him by the obligee or payee, in case the same had not been assigned; and in every such action, in which judgment shall be given for the plaintiff, he shall recover his damages and costs of suit, as in other cases.

(Source: R.S. 1874, p. 718.)

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Last modified: February 18, 2015