94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB1290


 
Introduced 02/09/05, by Rep. Dan Reitz
 
SYNOPSIS AS INTRODUCED:
 		














735 ILCS 5/2-1011
  from Ch. 110, par. 2-1011







    Amends the Code of Civil Procedure. Provides that any interest earned on the principal deposited with the court shall be paid into the county general fund as an earning of the clerk of the court (instead of the court directing the disposition of interest accrued to the parties as it deems appropriate). Effective immediately.
















LRB094 06783 LCB 36885 b

















 


 


A BILL FOR









 











HB1290

LRB094 06783 LCB 36885 b






1
    AN ACT concerning civil law.

 
2
    Be it enacted by the People of the State of Illinois,
 
3
represented in the General Assembly:


 
4
    Section 5. The Code of Civil Procedure is amended  by 
5
changing Section 2-1011 as follows:
 



6
    (735 ILCS 5/2-1011)  (from Ch. 110, par. 2-1011)



7
    Sec. 2-1011. Deposits with Court. 

8
    (a) In any action in which any part of the relief sought is 
9
a
judgment for a sum of money or a determination by the court 
10
as to the
disposition of a sum of money and a party to the 
11
action deposits
all or part of that sum with the clerk of the 
12
court, the clerk shall
deposit that money in an interest 
13
bearing account as provided in this
Section.  When a judgment is 
14
entered as to the disposition of the principal
deposited, any 
15
interest earned on the principal shall be paid into the county 
16
general fund as an earning of the office of the clerk
the court 
17
shall also direct disposition of the interest accrued
to the 
18
parties as it deems appropriate.

19
    (b) Unless otherwise ordered by the court as to a specified 
20
deposit or
deposits, all funds so deposited with the court may 
21
be intermingled.  The
accounts established by the clerk of the 
22
circuit court under this
Section shall be in banks or savings 
23
and loan associations doing business
in this State.  The 
24
accounts must be insured by an agency of the United
States to 
25
the full extent of the amounts held in the accounts.  The clerk

26
shall keep complete and accurate records of the amounts 
27
deposited with the
court in each action and of the accounts 
28
containing those deposits.  The
records and accounts shall be 
29
subject to audit, as provided by law.  The
clerk shall, upon 
30
request of any party in an action in which a sum of money
has 
31
been deposited with the court under this Section, furnish to 
32
that party
a statement showing the condition of the deposit or 
 


 






HB1290
- 2 -
LRB094 06783 LCB 36885 b




1
of the account containing
the deposit.

2
    (c) Payment out of money deposited with the court shall be 
3
made only
upon order of the court after a finding that:


4
        (1) the order is consistent with the account records as 
5
    to the amount
involved; and


6
        (2) the order correctly identifies affected parties 
7
    and specifies to
whom payments are to be made and the 
8
    amount each is to receive.

9
    (d) No moneys on deposit under this Section shall be paid 
10
out except by a
check of the clerk.

11
    (e) Orders to pay out may be made under terms and 
12
conditions as the court
may, in its discretion, deem 
13
appropriate, subject to the provisions of this
Section.  The 
14
orders may be stayed pending appeal upon application under

15
Supreme Court Rule 305.

16
(Source: P.A. 86-1329.)

 

17
    Section 99. Effective date. This Act takes effect upon 
18
becoming law.