Illinois § 9

§ 9.

Status of receiver as lien creditor. On appointment of a receiver, the receiver has the status of a lien creditor: (1) under Sections 9-101 to 9-809 of the Uniform Commercial Code as to receivership property that is personal property or fixtures; (2) under Sections 1 to 39 of the Conveyances Act as to receivership property that is real property as to persons with actual or constructive notice of the appointment and to all other persons from the time of recording of the order appointing the receiver pursuant to Section 12(c)(3) of this Act; and (3) as if the receiver were a creditor that obtained a judicial lien on all the receivership property, subject to satisfying the recording requirements as to real property described in Section 12(c)(3) of this Act. (Source: P.A. 104-34, eff. 1-1-26.)