Illinois Depository Bond

Category: Uncategorized
Published: Apr 22, 2011
HB 264: Depository Bond

The Illinois Urban Development Authority was created under HB 264. Under this it requires its depositories to post a surety bond. This surety bond must be issued in the condition of the safekeeping of money be deposited and also the repayment of the deposits. The minimum bond amount posted must be equal to at least the maximum sum expected to be on deposit at any given time.

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