225 ILCS 640/4.5

225 ILCS 640/4.5
in effect
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(225 ILCS 640/4.5) (from Ch. 121 1/2, par. 211.5) Sec. 4.5. Every licensed auction market shall establish and maintain a 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. (Source: P.A. 86-231.)
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.ilga.gov/legislation/ilcs/ilcs.aspFetched: 10/17/2026

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