Illinois Code § 225 ILCS 640/4.5

Every licensed auction market shall establish and maintain a
Open in Lexace · Ask the AI about this section
separate bank account designated as "Custodial Account for Shippers'
Proceeds", or of some similar identifying designation, to disclose that the
depository is acting as a fiduciary and that the funds in the account are trust funds.

‹ 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.