Illinois Compiled Statutes 205 ILCS 305/44 – Share accounts; garnishment
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Terms Used In Illinois Compiled Statutes 205 ILCS 305/44
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
A credit union may be subject to garnishment proceedings concerning the share accounts of its members.