Illinois Compiled Statutes
15 ILCS 520/2 (2026)
All financial institutions in which any such money is deposited shall be required to pay interest
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(15 ILCS 520/2)
(from Ch. 130, par. 21)
Sec. 2.
All financial institutions in which any such
money is deposited shall be required to
pay interest.
All interest received or paid on account of money in the State Treasury
belonging to or for the use of the State so deposited in financial institutions shall be
the property of the State of Illinois. If any moneys held by the State
Treasurer shall be deposited in financial institutions
pursuant to the provisions of
this Act, the interest received thereon
shall be credited as provided in Section 4.1 of the State Finance Act.
(Source: P.A. 102-297, eff. 8-6-21.)
Notes of Decisions
Cited in 1
case, 2009–2009 · leading case: Cwik v. Topinka, 905 N.E.2d 300 (Ill. App. Ct. 1st Dist. 2009).
Cwik v. Topinka, 905 N.E.2d 300 (Ill. App. Ct. 1st Dist. 2009). “” 15 ILCS 520/2 (West 2004). Proceeds received from the sale of property pursuant to the Act are placed in one of two funds: (1) the unclaimed property fund, from which claims under the Act are paid; and (2) the pension fund.”
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