Illinois § 5-10
Full text of Illinois Illinois Compiled Statutes § 5-10, with citation guidance and answers to common questions.
§ 5-10.
Duties. The Task Force shall: (1) identify vulnerabilities in the real estate sector that facilitate money laundering; (2) provide guidance to help actors in the real estate sector identify suspicious transactions and report them to the proper authorities; (3) explore the means by which illicit money is channeled into the real estate sector and integrated into the legal economy, including, but not limited to, cash purchases, complex loans, monetary instruments, mortgages, investment institutions, fraudulent appraisals, and anonymous corporate entities; (4) assess the exposure of the residential, industrial, and commercial real estate sectors in Illinois to illicit Russian money, including, but not limited to, luxury real estate in Chicago and nonresidential real estate in downstate communities; and (5) assess real estate due diligence and reporting practices, requirements, and laws in Illinois and recommend changes needed to eliminate systemic vulnerabilities that facilitate foreign money laundering. (Source: P.A. 102-1108, eff. 12-21-22.)
Frequently Asked Questions About Illinois § 5-10
What does Illinois Compiled Statutes § 5-10 cover?
Section 5-10 is part of the Illinois Compiled Statutes, the codified statutory law of Illinois. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Illinois § 5-10?
A common citation format is "Illinois Compiled Statutes § 5-10" (Illinois). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Illinois law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Illinois official source linked on this page or consult a licensed Illinois attorney.
How does Illinois § 5-10 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Illinois can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Illinois.