(755 ILCS 5/21-2.04) (from Ch. 110 1/2, par. 21-2.04)
Sec. 21-2.04.
Insured accounts, deposits, and certificates.
Withdrawable capital accounts, deposits,
investment certificates or certificates of deposit of state and federal
savings and loan associations but, unless otherwise authorized by a court
of competent jurisdiction, only to the extent that the accounts, deposits
or certificates are insured by the United States or any of its agencies, and
share accounts in federal and state credit unions if the
credit unions are insured by the National Credit Union Administration.
Amounts invested in a savings and loan association in excess of the amount
insured by the United States or any of its agencies shall be
secured by a surety bond taken from a surety authorized to transact
business in this State in such sum, under such conditions, and with such
security sufficient to save the estate from loss.
(Source: P.A. 90-796, eff. 12-15-98.)
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