Shown verbatim: the complete text as captured from the official PDF posted by the Illinois General Assembly, fetched 2026-09-25. Page and line markers are part of the official record; nothing is edited or removed. This is the current version. The official bill page.
SB1443 Enrolled LRB104 07581 JRC 17625 b 1 AN ACT concerning civil law. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Mortgage Act is amended by adding Section 5 17 as follows: 6 (765 ILCS 905/17 new) 7 Sec. 17. Notwithstanding any other provisions of this Act: 8 (1) The Act does not abrogate the Illinois common law 9 that the payment in full of a debt secured by a mortgage 10 extinguishes the lien. 11 (2) Payment in full of a debt secured by a mortgage 12 pursuant to a payoff statement, as defined in Section 5 of 13 the Mortgage Certificate of Release Act, issued by or on 14 behalf of the holder of the indebtedness extinguishes the 15 lien of the mortgage. 16 Section 99. Effective date. This Act takes effect upon 17 becoming law.
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