WHAT THE ILLINOIS PROMPT PAYMENT LAW MEANS FOR YOU
Effective January 1, 2014, Illinois Senate Bill 1912 amended the Illinois Code of Civil Procedure, specifically, 735 ILCS 5/2-2301. The Act requires settling defendants in “personal injury, property damage, wrongful death or tort actions involving claim for money damages” to tender plaintiff with a release within fourteen days of written confirmation of settlement. Furthermore, a settling defendant must tender payment within thirty days of receipt of the release and any