Illinois Statutes
§ 15-1206 — Waiver of interest and penalty
Illinois·Topic RIGHTS AND REMEDIES·Ch. 765 PROPERTY·Act 765 ILCS 1026/ Revised Uniform Unclaimed Property Act.·Art. Title 15 - Revised Uniform Unclaimed Property Act
The administrator:
(1)may waive, in whole or in part, interest under subsection (a) of Section 15-1204 and penalties under subsection (b) of Section 15-1204 or Section 15-1; and (2) shall waive a penalty under subsection (b) of Section 15-1204 if the administrator determines that the holder acted in good faith and without negligence.
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Legislative History
(Source: P.A. 100-22, eff. 1-1-18 .)
Nearby Sections
15
§ 15
§ 15§ 15-1001
Verified report of property§ 15-1002.2
§ 15-1002.2§ 15-1003
Rules for conducting examination§ 15-1004
Records obtained in examination§ 15-101
Short title§ 15-1010
Report by administrator§ 15-1011
§ 15-1011