Illinois Compiled Statutes 205 ILCS 700 Adverse Claims to Deposit Accounts Act. Section 15

    (205 ILCS 700/15)

    Sec. 15. Recognition of claims. In the absence of a court order or indemnity bond as required by this Act, a financial institution shall not be required to recognize any claim to, or any claim of authority to, exercise control over a deposit account held by the financial institution made by a person other than the depositor.

(Source: P.A. 89-601, eff. 8-2-96.)

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Last modified: February 18, 2015