Illinois Compiled Statutes 210 ILCS 45/3-513 – (a) In any action or special proceeding brought against a receiver in …
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(a) In any action or special proceeding brought against a receiver in the receiver’s official capacity for acts committed while carrying out powers and duties under this Article, the receiver shall be considered a public employee under the “Local Governmental and Governmental Employees Tort Immunity Act”, as now or hereafter amended.
(b) A receiver may be held liable in a personal capacity only for the receiver’s own gross negligence, intentional acts or breach of fiduciary duty.
(c) The court may require a receiver to post a bond.
(b) A receiver may be held liable in a personal capacity only for the receiver’s own gross negligence, intentional acts or breach of fiduciary duty.
Terms Used In Illinois Compiled Statutes 210 ILCS 45/3-513
- Fiduciary: A trustee, executor, or administrator.
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
(c) The court may require a receiver to post a bond.