Illinois Compiled Statutes 625 ILCS 5/3-909 – Money accepted for remittance – Obligations of licensee
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Terms Used In Illinois Compiled Statutes 625 ILCS 5/3-909
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Each licensee shall forward to the remittee all money accepted for remittance not later than the fifth calendar day after the date upon which such money was received by the licensee, and shall promptly fulfill any other obligation it has undertaken in connection therewith.