50 Ill. Adm. Code 8100.1701
Place of Deposit
Section 8100
Section 8100.1701 Place of
Deposit
Each independent escrowee shall:
a) instead of physical delivery of the bonds to the Division,
place the required deposit in the custody of any trust company or bank located
in this State and qualified to do business under the Corporate Fiduciary Act,
("Depository Institution");
b) execute and deliver to the Division, a Pledgor/Pledgee
Authorization form for filing with the Depository Institution; and
c) file with the Division a true and correct copy of the
safekeeping certificate issued by the Depository Institution setting forth the
amount of and description of the bonds on deposit.