Illinois Administrative Code
Title 74 - PUBLIC FINANCE
Part 740 - ILLINOIS PUBLIC TREASURERS' INVESTMENT POOL FOR PUBLIC TREASURERS IN THE STATE OF ILLINOIS
Subpart E - CUSTODIAL ACCOUNT
Section 740.500 - Custodial Account
Universal Citation: 74 IL Admin Code ยง 740.500
Current through Register Vol. 48, No. 38, September 20, 2024
Funding from investment activity will be distributed to the participant's custodial account at the custodian bank. The custodian bank must, at minimum, be authorized to do business in Illinois as an Illinois bank or a national bank with a presence in Illinois. In addition, the custodian bank must be a member of the Automated Clearing House network, participate in the Federal Reserve's wire network, and qualify as a depository for public funds pursuant to the Deposit of State Moneys Act [ 15 ILCS 520 ].
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