(20 ILCS 805/805-410)
(was 20 ILCS 805/63a32)
Local bank accounts.
The Department has the power to
establish local bank or savings and loan
accounts, upon the written authorization of the Director, to temporarily
hold income received at any of its properties. Local accounts
pursuant to this Section shall be in the name of the Department and shall be
subject to regular audits. The
balance in a local bank or savings and loan association account shall be
forwarded to the Department for
deposit with the State Treasurer on Monday of each week if the amount to be
deposited in a fund exceeds $500.
No bank or savings and loan association shall receive public funds as
permitted by this Section unless it has complied with the requirements
established pursuant to Section 6 of the Public Funds Investment Act.
(Source: P.A. 91-239, eff. 1-1-00.)