Bank bills, and all other bills or evidence of debt, issued by a moneyed corporation and circulated as money, may be levied upon for the enforcement of a judgment and paid to the creditor, at their par value, as money collected, if he or she is willing to receive them; otherwise they shall be sold like other chattels.
12-160.Bills.
Article XII. Judgments - Enforcement · Part 1. In General · Not amended since adoption on record · Last verified July 20, 2026
In one sentenceSection 12-160 lets bank bills and other circulating evidence of debt be levied on and paid to the creditor at par value if the creditor is willing to accept them that way, and sold like other chattels otherwise.
Full Text of 735 ILCS 5/12-160
Plain-English Summary
This section addresses instruments that circulate as money without being legal tender in the way coin is. Bank bills, and other bills or evidence of debt issued by a moneyed corporation and circulated as money, may be levied on to enforce a judgment.
Whether the creditor gets those bills directly depends on the creditor's own willingness. If the creditor is willing to receive them at their par value, the officer pays them over as money collected. If not, they're sold like other chattels rather than forced on the creditor at face value.
Frequently Asked Questions
What kinds of instruments does Section 12-160 cover?
Bank bills and other bills or evidence of debt issued by a moneyed corporation and circulated as money.
Can these be paid directly to the creditor?
Yes, at par value, if the creditor is willing to accept them that way.
What happens if the creditor doesn't want to accept them at par?
They're sold like other chattels instead.
How does this differ from Section 12-159's treatment of coin?
Coin is legal tender and goes straight to the creditor as money collected; bills go to the creditor at par only if the creditor agrees.
Who decides whether the bills are paid over or sold?
The creditor's willingness to accept them at par value controls that choice.
Amendment History
(Source: P.A. 82-280.)
Source & verification. Section text and amendment history are
reproduced verbatim from the Illinois Compiled Statutes, published by the
Illinois Compiled Statutes, Illinois General Assembly / Legislative Reference Bureau. Last verified July 20, 2026.
· Official source
Also known as: levy on bank bills illinoislevying bank notes illinois judgmentpar value payment to creditor illinois