§ 15-305 — Custody if transaction took place in this State

Illinois § 15-305

• Jurisdiction: 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

Text

Except as in Section 15-302, 15-303, or 15-304, the administrator may take custody of property presumed abandoned whether located in this State or another state if: (1) the transaction out of which the property arose took place in this State; (2) the holder is domiciled in a state that does not provide for the custodial taking of the property, except that if the property is specifically exempt from custodial taking under the law of the state of the holder's domicile, the property is not subject to the custody of the administrator; and (3) the last-known address of the apparent owner or other person entitled to the property is unknown or in a state that does not provide for the custodial taking of the property, except that if the property is specifically exempt from custodial taking under the law of the state of the last-known address, the property is not subject to the custody of the administrator.

Legislative History

(Source: P.A. 100-22, eff. 1-1-18 .)