215 ILCS 5/1580

Current through Public Act 103-1052
Section 215 ILCS 5/1580 - Escrow or Trust Accounts

A public adjuster who receives, accepts, or holds any funds on behalf of an insured towards the settlement of a claim for loss or damage shall deposit the funds in a non-interest bearing escrow or trust account in a financial institution that is insured by an agency of the federal government in the public adjuster's home state or where the loss occurred.

215 ILCS 5/1580

Added by P.A. 096-1332,§ 5, eff. 1/1/2011.