State of Illinois
91st General Assembly
Legislation

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91_HB2844eng

 
HB2844 Engrossed                               LRB9105357RCks

 1        AN  ACT  to amend the Code of Civil Procedure by changing
 2    Section 2-1011.

 3        Be it enacted by the People of  the  State  of  Illinois,
 4    represented in the General Assembly:

 5        Section  5.   The  Code  of Civil Procedure is amended by
 6    changing Section 2-1011 as follows:

 7        (735 ILCS 5/2-1011) (from Ch. 110, par. 2-1011)
 8        Sec. 2-1011.  Deposits; with court.
 9        (a)  In any action in which any part of the relief sought
10    is a judgment for a sum of money or a  determination  by  the
11    court  as to the disposition of a sum of money and a party to
12    the action deposits all or part of that sum with the clerk of
13    the court, the clerk shall deposit that money in an  interest
14    bearing account as provided in this Section.  When a judgment
15    is entered as to the disposition of the principal deposited,
16    the  interest  earned  on the funds held by the clerk must be
17    deposited in the county  general  fund  as  earnings  of  the
18    office.   The  court  may  direct the clerk by court order to
19    invest the funds in a specific certificate of deposit or bank
20    passbook savings account in the name of the clerk.  The clerk
21    is the custodian of the passbook or  certificate  of  deposit
22    pending  further  order  of  the  court.   The  clerk  is not
23    responsible for securing the interest rates when  ordered  by
24    the court to invest the funds as set forth in this subsection
25    (a).  the court shall also direct disposition of the interest
26    accrued to the parties as it deems appropriate.
27        (b)  Unless otherwise  ordered  by  the  court  as  to  a
28    specified  deposit  or  deposits, all funds so deposited with
29    the court may be intermingled.  The accounts  established  by
30    the clerk of the circuit court under this Section shall be in
31    banks or savings and loan associations doing business in this
 
HB2844 Engrossed            -2-                LRB9105357RCks
 1    State.   The  accounts  must  be  insured by an agency of the
 2    United States to the full extent of the amounts held  in  the
 3    accounts.  The clerk shall keep complete and accurate records
 4    of the amounts deposited with the court in each action and of
 5    the  accounts  containing  those  deposits.   The records and
 6    accounts shall be subject to audit, as provided by law.   The
 7    clerk  shall, upon request of any party in an action in which
 8    a sum of money has been deposited with the court  under  this
 9    Section,  furnish  to  that  party  a  statement  showing the
10    condition of the deposit or of  the  account  containing  the
11    deposit.
12        (c)  Payment  out of money deposited with the court shall
13    be made only upon order of the court after a finding that:
14             (1)  the  order  is  consistent  with  the   account
15        records as to the amount involved; and
16             (2)  the order correctly identifies affected parties
17        and  specifies  to  whom  payments are to be made and the
18        amount each is to receive.
19        (d)  No moneys on deposit under  this  Section  shall  be
20    paid out except by a check of the clerk.
21        (e)  Orders  to  pay  out  may  be  made  under terms and
22    conditions  as  the  court  may,  in  its  discretion,   deem
23    appropriate,  subject to the provisions of this Section.  The
24    orders may be stayed pending appeal  upon  application  under
25    Supreme Court Rule 305.
26        (f)  No  moneys  held  by  the  clerk as bail bond may be
27    directed by the court to be placed in a specific  certificate
28    of deposit or bank passbook savings account.
29    (Source: P.A. 86-1329.)

30        Section  99.  Effective date.  This Act takes effect upon
31    becoming law.

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