(This Section may contain text from a Public Act with a delayed effective date)

1. (a) Except as otherwise provided in subsection (b) or (c), this Act applies to a receivership for an interest in any one or more of the following:

   1. (1) in real property and any personal property related to or used in operating the real property;
   2. (2) in personal property and fixtures; or
   3. (3) a person that is not an individual.
2. (b) This Act does not apply to residential real estate as defined under Section 15-1219 of the Illinois Mortgage Foreclosure Law.

3. (c) This Act does not apply to a receivership if the receiver is appointed under:

   1. (1) Section 58 of the Illinois Banking Act;
   2. (2) Section 10011 of the Savings Bank Act;
   3. (3) Section 15.1 of the Currency Exchange Act;
   4. (4) Section 6-9 of the Corporate Fiduciary Act;
   5. (5) Section 92 of the Transmitters of Money Act;
   6. (6) Section 15-1704 of the Illinois Mortgage Foreclosure Law;
   7. (7) Section 5 of the Nursing Home Care Act; or
   8. (8) any law of this State other than this Act in which the receiver is a governmental unit or an individual acting in an official capacity on behalf of the unit, except to the extent provided by the other law. Notwithstanding the foregoing, a governmental unit or an individual acting in an official capacity on behalf of the unit may elect for this Act to apply to a receivership to the extent not inconsistent with the other law.
4. (d) This Act does not limit the authority of a court to appoint a receiver under law of this State other than this Act.
5. (e) Unless displaced by a particular provision of this Act, the principles of law and equity supplement this Act.

(Source: P.A. 104-34, eff. 1-1-26.)