Any payments made by an institution in compliance with this Act prior to the receipt of notice of an adverse claim or a restraining order shall be a complete discharge of the institution's obligations as to the amount so paid, and the institution shall, to the extent of each such payment, be released from all claims of any person claiming an interest in the account for such payment so made.
205 ILCS 625/5
Release
Known as the Illinois Trust and Payable on Death Accounts Act
The act spans §§ 205-625-1 to 205-625-5 (7 sections).
P.A. 84-461.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.