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Code · Illinois · Chapter 815 — BUSINESS TRANSACTIONS · Act 620

Sec. 602. Cash deposit instead of bond.

129 words·~1 min read·/il/chapter-815/act-620/602

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Sec. 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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