(215 ILCS 5/391) (from Ch. 73, par. 1003)
Sec. 391.
Trustee may have corporate surety.
A party of whom a bond or
other undertaking is required or permitted or by law allowed may agree with
his sureties for the deposit or safekeeping of any or all moneys, assets
and other property for which he, she or it is or may be held responsible,
with a bank, savings bank, safe deposit, savings and loan association or
trust company authorized by law to do business as such, and in such manner
as to prevent the withdrawal
or alienation thereof without the written consent of such sureties or an
order of the court having jurisdiction of such fiduciary made on such notice
to such sureties as such court may direct. It shall be lawful for such sureties
to enter into contracts for their indemnity or security with any person, partnership,
association or corporation, provided that such contracts are not prohibited
by law or against public policy.
(Source: P.A. 83-1362.)
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