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.
205 ILCS 700/15
Recognition of claims
Known as the Adverse Claims to Deposit Accounts Act
The act spans §§ 205-700-1 to 205-700-99 (9 sections).
P.A. 89-601, eff. 8-2-96.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.