If the processor has not been paid the amount due within 90 days after the initial written notice has been received by the customer as provided in Section 3, the processor may sell the die, mold, or special tool at a public auction if both of the following occur: (A) The die, mold, or special tool is still in the processor's possession; and (B) The processor complies with Section 5 of this Act.
770 ILCS 105/4
Sale of die or mold
Known as the Tool and Die Lien Act
The act spans §§ 770-105-0-01 to 770-105-6 (9 sections).
P.A. 85-381.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.