(815 ILCS 420/6) (from Ch. 121 1/2, par. 1856)
Sec. 6.
(a) A travel promoter shall deposit 90 percent of all sums
received, including but not limited to those made by cash, credit card
or any other method of payment, for air or sea transportation or any other
services or goods offered by the travel promoter in conjunction with that
transportation, directly into a trust account in a federally insured bank or
savings and loan association.
(b) The trust required by this Section shall be created and maintained
for the benefit of the persons paying money to the travel promoter. The
travel promoter shall not in any manner encumber the corpus of such account
and shall not withdraw money therefrom except: (1) in partial or full payment for
the goods or services contracted for by the passengers to the carrier or
person providing the other goods or services offered by the travel promoter,
or (2) to make the refunds as required by this Act or provided for by
written contract between the travel promoter and passengers. This Section
shall not prevent the withdrawal from the trust account of any interest earned
and credited to the trust account for the sole benefit of the travel
promoter, after all goods and services have been provided as contracted for,
or the withdrawal at that time of any other sums on deposit in that account.
(Source: P.A. 85-995.)
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