Ill. Admin. Code tit. 50 § 8100.1744
Current through Register Vol. 48, No. 50, December 13, 2024
Transfers of funds between escrows may not be accomplished by the making of book entries alone, but must be accomplished by the actual writing of a check from one escrow to the other, and by the depositing of such check for the account of, and the writing of a receipt for, the escrow to which the funds are being transferred. Such transfers must also be properly supported and documented in the escrow files by inclusion of the reasons for, and the appropriate approval of, the transfer.
Ill. Admin. Code tit. 50, § 8100.1744