Illinois Receivers Bond is a type of surety bond required by the state of Illinois for receivers when they are appointed by a court to manage, protect, distribute, or otherwise administer the property of a debtor. This type of bond guarantees that the receiver will perform their duties faithfully, honestly, and according to the laws of the state of Illinois. There are three types of Illinois Receivers Bond: General Receivership Bond, Special Receivership Bond, and Public Deposit Receivership Bond. The General Receivership Bond is a bond required by the court when a receiver is appointed to manage, protect, distribute, or otherwise administer the property of a debtor. The Special Receivership Bond is required when a receiver is appointed to manage, protect, distribute, or otherwise administer the property of a debtor, but the property is subject to special circumstances. The Public Deposit Receivership Bond is required when a receiver is appointed to manage, protect, distribute, or otherwise administer a public deposit of funds. The bond guarantees that the receiver will faithfully discharge their duties according to the laws of the state of Illinois.
Illinois Receivers Bond
Description
How to fill out Illinois Receivers Bond?
If you’re looking for a way to properly prepare the Illinois Receivers Bond without hiring a legal representative, then you’re just in the right spot. US Legal Forms has proven itself as the most extensive and reliable library of official templates for every personal and business scenario. Every piece of documentation you find on our web service is drafted in accordance with federal and state regulations, so you can be certain that your documents are in order.
Adhere to these straightforward instructions on how to acquire the ready-to-use Illinois Receivers Bond:
- Make sure the document you see on the page corresponds with your legal situation and state regulations by examining its text description or looking through the Preview mode.
- Type in the form name in the Search tab on the top of the page and choose your state from the dropdown to locate an alternative template if there are any inconsistencies.
- Repeat with the content verification and click Buy now when you are confident with the paperwork compliance with all the requirements.
- ​Log in to your account and click Download. Sign up for the service and opt for the subscription plan if you still don’t have one.
- Use your credit card or the PayPal option to purchase your US Legal Forms subscription. The document will be available to download right after.
- Choose in what format you want to get your Illinois Receivers Bond and download it by clicking the appropriate button.
- Import your template to an online editor to fill out and sign it quickly or print it out to prepare your hard copy manually.
Another great thing about US Legal Forms is that you never lose the paperwork you purchased - you can pick any of your downloaded blanks in the My Forms tab of your profile whenever you need it.
Form popularity
FAQ
A receiver is a court officer in possession of a given property or asset. The receiver acts as neutral entity between parties, usually the lender and the owner, to receive profits and conduct operations. Receivership is a commonly appointed in real estate and property business operations such as condos and hotels.
When will I get my bond refund? A customer can expect a bond refund within four to six weeks from the final disposition. The Criminal Division will prepare the bond refund documents, which are then forwarded to the Accounting Department to be audited and processed. How much is bond for my relative or friend?
?After an order is entered to release bond money, it usually takes ten (10) business days to generate the refund check. All checks are mailed. Make sure that our office has the correct address on file. The priority for a refund of bonds is established in General Order 90-26.
If they return to court as promised, their posted bail will be returned to them minus any fines or fees. However, if they fail to appear, then the money will be forfeited to the court.
Bond is an incentive for a defendant to appear at his or her court date. If a person does not appear, the Cook County bail bondsman will capture the individual and demand repayment. This is why it's very important to make sure that you appear at all of your court dates and appointments.
Refund: After the expiration of one year from the termination of its authority, a guarantor may petition the chief judge for a refund of its security deposit. Upon the payment of outstanding obligations of the guarantor, if any, the security deposit may be refunded.