Sec. 10. Restriction on transfer of land or equipment.
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/il/chapter-30/act-760/10A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 10. Restriction on transfer of land or equipment. A private entity that has utilized direct State or local economic development financial assistance to purchase or finance real or personal property may not transfer or assign any interest in that property while the State agency or unit of local government that provided the financial assistance retains collateral, security, or any other property interest in that property, unless otherwise authorized in writing by that State agency or unit of local government that granted the financial assistance.