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Code · Illinois · Chapter 815 — BUSINESS TRANSACTIONS · Act 180

Sec. 45. No fiduciary relationship.

49 words·~1 min read·/il/chapter-815/act-180/45

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Sec. 45. No fiduciary relationship. This Act does not impose a fiduciary relationship between the creditor and the debtor. Placement of collateral protection insurance is for the sole purpose of protecting the interest of the creditor when the debtor fails to insure collateral as required by the credit agreement.
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