Illinois Code § 205 ILCS 115/1

Any savings and loan or Federal savings and loan association may issue
Open in Lexace · Ask the AI about this section
shares, share accounts or accounts to individuals, irrespective of age or
marital status, each in their own right. Any payment or delivery of rights
to any individual, or a receipt or acquittance signed by an individual, who
holds shares, share accounts or accounts, shall be a valid and sufficient
release and discharge of any such association for any payment on such
shares, share accounts or accounts, or delivery of rights, to such
individual.

‹ Prev All Illinois sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.