(765 ILCS 910/3)
(from Ch. 17, par. 4903)
Escrow Accounts or escrow-like arrangements established after
the effective date of this Act in conjunction with mortgage agreements for
single-family owner occupied residential property are hereby declared separate
and distinct transactions from mortgages and, hence, subject to the laws
and regulations of this State.
(Source: P.A. 79-625.)