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

Illinois Statutes

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

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

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

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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.

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