50 Ill. Adm. Code 8100.401
Place of Deposit
Section 8100
Section 8100.401 Place of
Deposit
Each company 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 [205 ILCS 620] ("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 an acknowledgement issued by the
Depository Institution setting forth the amount of and description of the bonds
on deposit.