In order to receive payment from the recovery fund in Illinois, the suit against the alleged violator must be filed within how m

Question

tamaranim1 [39]

3 years ago

12

In order to receive payment from the recovery fund in Illinois, the suit against the alleged violator must be filed within how m

any years of the alleged violation's occurrence?

Business

1 answer:

Norma-Jean [14] · Answer 1 · 2022-08-17T01:25:35+03:00

Answer:

2 years

Explanation:

According to the PROFESSIONS, OCCUPATIONS, AND BUSINESS OPERATIONS 225 ILCS 454/20-90, it is stated that "No action for a judgment that subsequently results in a post-judgment order for collection from the Real Estate Recovery Fund shall be started later than 2 years after the date on which the aggrieved person knew, or through the use of reasonable diligence should have known, of the acts or omissions giving rise to a right of recovery from the Real Estate Recovery Fund." Therefore in order to receive payment the suit must be filed within 2 years of the violation's occurrence.