Illinois General Assembly - Illinois Compiled Statutes

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305 ILCS 5/10-24.50

(305 ILCS 5/10-24.50)

Sec. 10-24.50. Financial institution's freedom from liability.

A
financial institution that provides information under Sections 10-24 through
10-24.50 shall not be liable to any account holder, owner, or other person in
any civil, criminal, or administrative action for any
of the following:

(1) Disclosing the required information to the

Illinois Department, any other provisions of the law notwithstanding.

(2) Holding, encumbering, or surrendering any of an

individual's accounts as defined in Section 10-24 in response to a lien or order to withhold and deliver issued by:

(A) the Illinois Department under Sections 10-25

and 10-25.5; or

(B) a person or entity acting on behalf of the

Illinois Department.

(3) Any other action taken or omission made in good

faith to comply with Sections 10-24 through 10-24.50, including individual or mechanical errors, provided that the action or omission does not constitute gross negligence or willful misconduct.

(Source: P.A. 100-201, eff. 8-18-17.)