Tag Archive: Settlement Time Limits
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New Illinois Act Mandates Settlement of Claims With Strict Time Limits
The Illinois Settlement of Claims Act, 735 ILCS 5/2-2301, applies to personal injury, property damage, wrongful death, or tort settlements and establishes specific deadlines for the tender of a settlement agreement (14 days), the tender of settlement funds (30 days) and establishes a funding mechanism for liens.
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