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Illinois Oath and Bond of Representative-No Surety

Category:
Illinois Local County - Cook - Probate
State:
Illinois
Control #:
IL-SKU-1325
Format:
PDF
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Description

Oath and Bond Of Representative-No Surety The Illinois Oath and Bond of Representative-No Surety is a legal document used to appoint a representative to act on behalf of a business entity in a transaction involving real estate, money, or other assets. This document must be filed with the Secretary of State of Illinois and with the county recorder of the county in which the transaction takes place. The bond ensures that the representative will act in accordance with the terms of the transaction and will not commit any fraud or misrepresentation in the process. The bond also provides protection for the business entity in case the representative fails to fulfill their duties. The two types of Illinois Oath and Bond of Representative-No Surety are the Limited Representative-No Surety and the General Representative-No Surety. The Limited Representative-No Surety is used for a specific transaction and is only valid for the duration of that transaction. The General Representative-No Surety is used for multiple transactions and is valid until revoked or replaced. Both types of bonds require the representative to take an oath to faithfully and honestly fulfill their duties.

The Illinois Oath and Bond of Representative-No Surety is a legal document used to appoint a representative to act on behalf of a business entity in a transaction involving real estate, money, or other assets. This document must be filed with the Secretary of State of Illinois and with the county recorder of the county in which the transaction takes place. The bond ensures that the representative will act in accordance with the terms of the transaction and will not commit any fraud or misrepresentation in the process. The bond also provides protection for the business entity in case the representative fails to fulfill their duties. The two types of Illinois Oath and Bond of Representative-No Surety are the Limited Representative-No Surety and the General Representative-No Surety. The Limited Representative-No Surety is used for a specific transaction and is only valid for the duration of that transaction. The General Representative-No Surety is used for multiple transactions and is valid until revoked or replaced. Both types of bonds require the representative to take an oath to faithfully and honestly fulfill their duties.

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