Illinois § 13

§ 13.

Duties of owner. (a) An owner shall: (1) assist and cooperate with the receiver in the administration of the receivership and the discharge of the receiver's duties; (2) preserve and turn over to the receiver all receivership property in the owner's possession, custody, or control; (3) identify all records and other information relating to the receivership property, including a password, authorization, or other information needed to obtain or maintain access to or control of the receivership property, and make available to the receiver the records and information in the owner's possession, custody, or control; (4) on subpoena, submit to examination under oath by the receiver concerning the acts, conduct, property, liabilities, and financial condition of the owner or any matter relating to the receivership property or the receivership; and (5) perform any duty imposed by court order, this Act, or law of this State other than this Act. (b) Without limiting the owner's obligations under subsection (a), and unless the court orders otherwise, the owner shall file with the court and provide the receiver within 14 days of the receiver's appointment: (1) A list of all receivership property and exempt property of the owner, identifying: (A) The location of the property, including the legal description of any real property; (B) A description of all liens to which the property is subject; and (C) The estimated value of the property. (2) A list of all creditors, taxing authorities, and regulatory authorities having claims against the owner: (A) their mailing addresses; (B) the amount and nature of their respective claims as of the date of the receiver's appointment; (C) whether the claims are secured by liens; and (D) whether the claims are disputed. (c) If an owner is a person other than an individual, this Section applies to each officer, director, manager, member, partner, trustee, or other person exercising or having the power to exercise control over the affairs of the owner. (d) If a person knowingly fails to perform a duty imposed by this Section, the court may: (1) award the receiver actual damages caused by the person's failure, reasonable attorney's fees, and costs; (2) sanction the failure as civil contempt; and (3) impose other equitable remedies, including an injunction or constructive trust to address a person's failure to comply with a duty under this Section. (Source: P.A. 104-34, eff. 1-1-26.)