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.

Terms Used In Illinois Compiled Statutes 305 ILCS 5/10-24.50

  • individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
  • Lien: A claim against real or personal property in satisfaction of a debt.
  Previous section
Next section  
 Article X Contents