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91_HB2844
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
-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.