Ill. Admin. Code tit. 50, § 8100.1726 – Records to be Preserved | Midpage
§ 8100.1726
Ill. Admin. Code tit. 50, § 8100.1726
Records to be Preserved
AUTHORITY: Implementing and authorized by the Title Insurance Act [215 ILCS 155].DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
a) all bank statements of the "trust" or "escrow" account;
b) all canceled checks drawn upon the "trust" or "escrow" account;
c) copies of bank deposit slips with reference to the "trust" or "escrow" account;
d) all additional records reflecting banking transactions with reference to the "trust" or "escrow" account, including copies of all receipts for funds transferred from interest-bearing accounts into the "trust" or "escrow" account;
e) the Statement of Account;
f) escrow instructions and amendments thereto; and
g) all additional records pertinent to the escrow transaction.
An independent escrowee shall preserve for at least three (3) years from the close of escrow: