Illinois Compiled Statutes 210 ILCS 46/2-201 – Residents’ funds
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To protect the residents’ funds, the facility:
(1) Shall at the time of admission provide, in order of priority, each resident, or the resident’s guardian, if any, or the resident’s representative, if any, or the resident’s immediate family member, if any, with a written statement explaining to the resident and to the resident’s spouse (a) their spousal impoverishment rights, as defined at § 5-4 of the Illinois Public Aid Code, and at Section 303 of Title III of the Medicare Catastrophic Coverage Act of 1988 (P.L. 100-360), and (b) the resident’s rights regarding personal funds and listing the services for which the resident will be charged. The facility shall obtain a signed acknowledgment from each resident or the resident’s guardian, if any, or the resident’s representative, if any, or the resident’s immediate family member, if any, that such person has received the statement.
(2) May accept funds from a resident for safekeeping and managing, if it receives written authorization from, in order of priority, the resident or the resident’s guardian, if any, or the resident’s representative, if any, or the resident’s immediate family member, if any; such authorization shall be attested to by a witness who has no pecuniary interest in the facility or its operations, and who is not connected in any way to facility personnel or the administrator in any manner whatsoever.
(3) Shall maintain and allow, in order of priority, each resident or the resident’s guardian, if any, or the resident’s representative, if any, or the resident’s immediate family member, if any, access to a written record of all financial arrangements and transactions involving the individual resident’s funds.
(4) Shall provide, in order of priority, each resident, or the resident’s guardian, if any, or the resident’s representative, if any, or the resident’s immediate family member, if any, with a written itemized statement at least quarterly, of all financial transactions involving the resident’s funds.
(5) Shall purchase a surety bond, or otherwise provide assurance satisfactory to the Departments of Public Health and Financial and Professional Regulation that all residents’ personal funds deposited with the facility are secure against loss, theft, and insolvency.
(6) Shall keep any funds received from a resident for safekeeping in an account separate from the facility’s funds, and shall at no time withdraw any part or all of such funds for any purpose other than to return the funds to the resident upon the request of the resident or any other person entitled to make such request, to pay the resident his or her allowance, or to make any other payment authorized by the resident or any other person entitled to make such authorization.
(7) Shall deposit any funds received from a resident in excess of $100 in an interest bearing account insured by agencies of, or corporations chartered by, the State or federal government. The account shall be in a form which clearly indicates that the facility has only a fiduciary interest in the funds and any interest from the account shall accrue to the resident. The facility may keep up to $100 of a resident’s money in a non-interest-bearing account or petty cash fund, to be readily available for the resident’s current expenditures.
(8) Shall return to the resident, or the person who executed the written authorization required in subsection (2) of this Section, upon written request, all or any part of the resident’s funds given the facility for safekeeping, including the interest accrued from deposits.
(9) Shall (a) place any monthly allowance to which a resident is entitled in that resident’s personal account, or give it to the resident, unless the facility has written authorization from the resident or the resident’s guardian or if the resident is a minor, his parent, to handle it differently, (b) take all steps necessary to ensure that a personal needs allowance that is placed in a resident’s personal account is used exclusively by the resident or for the benefit of the resident, and (c) where such funds are withdrawn from the resident’s personal account by any person other than the resident, require such person to whom funds constituting any part of a resident’s personal needs allowance are released, to execute an affidavit that such funds shall be used exclusively for the benefit of the resident.
(10) Unless otherwise provided by State law, upon the death of a resident, shall provide the executor or administrator of the resident’s estate with a complete accounting of all the resident’s personal property, including any funds of the resident being held by the facility.
(11) If an adult resident is incapable of managing his or her funds and does not have a resident’s representative, guardian, or an immediate family member, shall notify the Office of the State Guardian of the Guardianship and Advocacy Commission.
(12) If the facility is sold, shall provide the buyer with a written verification by a public accountant of all residents’ monies and properties being transferred, and obtain a signed receipt from the new owner.
(1) Shall at the time of admission provide, in order of priority, each resident, or the resident’s guardian, if any, or the resident’s representative, if any, or the resident’s immediate family member, if any, with a written statement explaining to the resident and to the resident’s spouse (a) their spousal impoverishment rights, as defined at § 5-4 of the Illinois Public Aid Code, and at Section 303 of Title III of the Medicare Catastrophic Coverage Act of 1988 (P.L. 100-360), and (b) the resident’s rights regarding personal funds and listing the services for which the resident will be charged. The facility shall obtain a signed acknowledgment from each resident or the resident’s guardian, if any, or the resident’s representative, if any, or the resident’s immediate family member, if any, that such person has received the statement.
Terms Used In Illinois Compiled Statutes 210 ILCS 46/2-201
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Executor: A male person named in a will to carry out the decedent
- Fiduciary: A trustee, executor, or administrator.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
- Personal property: All property that is not real property.
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
(2) May accept funds from a resident for safekeeping and managing, if it receives written authorization from, in order of priority, the resident or the resident’s guardian, if any, or the resident’s representative, if any, or the resident’s immediate family member, if any; such authorization shall be attested to by a witness who has no pecuniary interest in the facility or its operations, and who is not connected in any way to facility personnel or the administrator in any manner whatsoever.
(3) Shall maintain and allow, in order of priority, each resident or the resident’s guardian, if any, or the resident’s representative, if any, or the resident’s immediate family member, if any, access to a written record of all financial arrangements and transactions involving the individual resident’s funds.
(4) Shall provide, in order of priority, each resident, or the resident’s guardian, if any, or the resident’s representative, if any, or the resident’s immediate family member, if any, with a written itemized statement at least quarterly, of all financial transactions involving the resident’s funds.
(5) Shall purchase a surety bond, or otherwise provide assurance satisfactory to the Departments of Public Health and Financial and Professional Regulation that all residents’ personal funds deposited with the facility are secure against loss, theft, and insolvency.
(6) Shall keep any funds received from a resident for safekeeping in an account separate from the facility’s funds, and shall at no time withdraw any part or all of such funds for any purpose other than to return the funds to the resident upon the request of the resident or any other person entitled to make such request, to pay the resident his or her allowance, or to make any other payment authorized by the resident or any other person entitled to make such authorization.
(7) Shall deposit any funds received from a resident in excess of $100 in an interest bearing account insured by agencies of, or corporations chartered by, the State or federal government. The account shall be in a form which clearly indicates that the facility has only a fiduciary interest in the funds and any interest from the account shall accrue to the resident. The facility may keep up to $100 of a resident’s money in a non-interest-bearing account or petty cash fund, to be readily available for the resident’s current expenditures.
(8) Shall return to the resident, or the person who executed the written authorization required in subsection (2) of this Section, upon written request, all or any part of the resident’s funds given the facility for safekeeping, including the interest accrued from deposits.
(9) Shall (a) place any monthly allowance to which a resident is entitled in that resident’s personal account, or give it to the resident, unless the facility has written authorization from the resident or the resident’s guardian or if the resident is a minor, his parent, to handle it differently, (b) take all steps necessary to ensure that a personal needs allowance that is placed in a resident’s personal account is used exclusively by the resident or for the benefit of the resident, and (c) where such funds are withdrawn from the resident’s personal account by any person other than the resident, require such person to whom funds constituting any part of a resident’s personal needs allowance are released, to execute an affidavit that such funds shall be used exclusively for the benefit of the resident.
(10) Unless otherwise provided by State law, upon the death of a resident, shall provide the executor or administrator of the resident’s estate with a complete accounting of all the resident’s personal property, including any funds of the resident being held by the facility.
(11) If an adult resident is incapable of managing his or her funds and does not have a resident’s representative, guardian, or an immediate family member, shall notify the Office of the State Guardian of the Guardianship and Advocacy Commission.
(12) If the facility is sold, shall provide the buyer with a written verification by a public accountant of all residents’ monies and properties being transferred, and obtain a signed receipt from the new owner.