(765 ILCS 1090/25) Sec. 25. Effect of enforcement by secured party. A request by a secured party for appointment of a receiver, the appointment of a receiver, or application by a secured party of receivership property or proceeds to the secured obligation does not: (1) make the secured party a mortgagee in possession |
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(2) impose any duty on the secured party under
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| Section 9-207 of the Uniform Commercial Code;
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(3) make the secured party an agent of the owner;
(4) constitute an election of remedies that precludes
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| a later action to enforce the secured obligation;
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(5) make the secured obligation unenforceable; or
(6) limit any right available to the secured party
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| with respect to the secured obligation.
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(Source: P.A. 104-34, eff. 1-1-26.)
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