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Illinois Statutes Chapter 815. Business Transactions § 620/602. Cash deposit instead of bond

Current as of January 01, 2025 | Updated by Findlaw Staff

§ 602. Cash deposit instead of bond. Instead of furnishing the bond required by Section 602 of this Act, the invention developer may deposit with the Secretary of State a cash deposit in the like amount. This cash deposit may be satisfied by any of the following:

(a) Certificates of deposit payable to the Secretary of State issued by banks doing business in this State and insured by the Federal Deposit Insurance Corporation.

(b) Investment certificates of share accounts assigned to the Secretary of State and issued by a savings and loan association doing business in this State and insured by the Federal Savings and Loan Insurance Corporation.

(c) Bearer bonds issued by the United States government or by this State.

(d) Cash deposited with the Secretary of State.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 815. Business Transactions § 620/602. Cash deposit instead of bond - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-815-business-transactions/il-st-sect-815-620-602/

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