Bill Amendment: IL SB1813 | 2019-2020 | 101st General Assembly

NOTE: For additional amemendments please see the Bill Drafting List

---

Bill Title: CREDIT UNION ACT-VARIOUS

Status: 2019-08-23 - Public Act . . . . . . . . . 101-0567 [SB1813 Detail]

Download: Illinois-2019-SB1813-Senate_Amendment_001.html

---

Sen. John G. Mulroe

Filed: 3/13/2019

10100SB1813sam001 LRB101 10992 JLS 57797 a
AMENDMENT TO SENATE BILL 1813
AMENDMENT NO. ______. Amend Senate Bill 1813 on page 1,
line 5, by deleting "44,"; and
on page 1, line 6, by replacing "Section 10.2" with "Sections
10.2 and 44.1"; and
on page 7, by replacing lines 10 through 21 with the following:
"(205 ILCS 305/44.1 new)
Sec. 44.1. Unclaimed property; dormancy or escheat fee. A
credit union may deduct a dormancy charge or an escheat fee
from property required to be paid or delivered to the
administrator under the Revised Uniform Unclaimed Property
Act, provided the amount of the deduction is consistent with
the standards set forth in subsection (b) of Section 15-602 of
that Act. In making the deduction, a credit union may allocate,
classify, and record all or a portion of the deduction, as

10100SB1813sam001 - 2 - LRB101 10992 JLS 57797 a
applicable, as the minimum share amount required to preserve
the member's status as a member of the credit union.".