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90_SB1486
765 ILCS 35/100 from Ch. 30, par. 137
Amends the Registered Titles (Torrens) Act. Adds caption
to a Section in relation to maintaining an indemnity fund.
LRB9010965WHmg
LRB9010965WHmg
1 AN ACT to amend the Registered Titles (Torrens) Act by
2 changing Section 100.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Registered Titles (Torrens) Act is
6 amended by changing Section 100 as follows:
7 (765 ILCS 35/100) (from Ch. 30, par. 137)
8 Sec. 100. Indemnity fund. All sums of money received
9 pursuant to Sections 40, 99, and 108 of this Act shall be
10 paid by the registrar to the county treasurer of the county
11 in which the land is situated, for the purpose of maintaining
12 an indemnity fund under the terms of this Act. It shall be
13 the duty of the treasurer to invest all of the fund,
14 including both principal and income, from time to time if not
15 immediately required for payments of indemnities in
16 accordance with Division 3-11 and other applicable provisions
17 of the Counties Code. The county treasurer shall report
18 annually to the county board the condition and income of the
19 fund and forward a copy of the report to the registrar.
20 (Source: P.A. 86-1475.)