Ill. Admin. Code tit. 50 § 8100.1742
Current through Register Vol. 48, No. 52, December 27, 2024
An independent escrowee shall act without partiality to any of the parties to an escrow transaction. If an independent escrowee or a person or company related to or affiliated with the independent escrowee is a principal to the escrow transaction or is acting or has acted in a capacity which can be construed as a conflict of interest in relation to the escrow transaction, the independent escrowee shall advise in writing all parties to the escrow transaction of such relationship or affiliation before being employed as independent escrowee in connection with such transaction. Such advice shall be on the face of the escrow instructions in not less that eight (8) point bold type or its equivalent.
Ill. Admin. Code tit. 50, § 8100.1742