§ 15-806 — Escheat of certain abandoned State agency moneys

Illinois § 15-806

• 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

Property presumed abandoned where the administrator reasonably believes the owner is a State agency as defined in the Illinois State Auditing Act, shall escheat to the State and shall be deposited into the General Revenue Fund if all of the following apply: (1) the administrator has provided written notice to the State agency and the Governor's Office of Management and Budget pursuant to subsection (c) of Section 15-504; (2) it has been more than 1 year since the administrator first provided written notice to the State agency pursuant to subsection (c) of Section 15-504; (3) the State agency has not initiated a claim or otherwise expressed an indication of interest in the property; and (4) the administrator provides written notice of the escheat to the Director of the Governor's Office of Management and Budget.

Legislative History

(Source: P.A. 103-148, eff. 6-30-23; 104-116, eff. 1-1-26 .)