Ill. Admin. Code tit. 38, § 140.20 - Bank Account
a) A
separate trust bank account shall be maintained for the purpose of depositing
customer's receipts and making disbursements to creditors or transferring
earned fees to the general account. Funds shall be deposited within one
business day after receipt.
b)
Trust account bank statements and cancelled checks shall be retained at the
office of the licensee for a period of 3 years.
c) Copies of the original trust account bank
statement and canceled checks, either in hard copy, microfilm, microfiche, or
by other electronic means, shall be kept at the office of the licensee, at
licensee's headquarters, or at an off-site storage facility for a period of 5
years.
Notes
Amended at 22 Ill. Reg. 12550, effective July 6, 1998
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