Ill. Admin. Code tit. 50, § 8100.1714 - Confirmation of Escrow Fund and Liability
The annual report shall include a statement that the escrow fund was confirmed by the accountant in writing directly with the depositories and that the escrow liability was confirmed by the accountant in writing directly with escrow depositors of at least twenty-five (25) escrow accounts or one-fourth of the number of escrow accounts having balances at the reporting date, whichever number is greater. If the independent escrowee has less than twenty-five (25) such accounts, all shall be confirmed.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.