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Notice of Secured Interest in Crops Must Specify Counties

The Illinois Supreme Court has upheld an Appellate Court’s decision that a bank’s notice of secured interest in growing crops must explicitly name the county or counties in which the crops are growing in order for the bank’s notice to be binding on a purchaser of the crops (e.g., a grain elevator), even though the purchaser had received timely notice from the secured bank in advance of the purchase of the crops. For more information, please click here.

If you have any questions pertaining to the Court’s decision or if you would like to receive a copy of the Supreme Court’s opinion, please feel free to contact CBAI General Counsel Jerry Cavanaugh at (800)736-2224 or via e-mail at jerryc@cbai.com.