(770 ILCS 70/6) (from Ch. 82, par. 506)
Sec. 6.
Notice to purchaser of oil and gas.
Anything in this
chapter to the contrary notwithstanding, any lien claimed by virtue of this
Act insofar as it may extend to oil or gas or the proceeds of the sale
of oil or gas shall not be effective against any purchaser of such oil or
gas until a copy of the recorded claim for lien has been delivered to such
purchaser. Such copy shall be delivered personally to the purchaser or by
registered or certified mail deposited in the United States mails. Until
such copy is delivered as above provided, no such purchaser shall be liable
to the claimant for any oil or gas produced from the leasehold upon which
the lien is claimed or the proceeds thereof except to the extent of such
part of the purchase price of such oil or gas or the proceeds thereof as
may be owing by such purchaser at the time of delivery of such written copy
of claim for lien. Such purchaser shall withhold payments for such oil or
gas proceeds to the extent of the lien amount claimed until delivery of a
recorded release of lien from the claimant, receipt of a certified judgment
of any court, or the filing of bond provided for by Section 11; provided,
however, that such purchaser may release payments for such oil and gas
proceeds if a notice of Lis Pendens regarding the suit to foreclose has not
been filed with the one-year limitation provided for by Section 12.
(Source: P.A. 86-377.)
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