Recognition of claims

205 ILCS 700/15, under Adverse Claims to Deposit Accounts Act.

205 ILCS 700/15

(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.)