Bill Text: IL HB4057 | 2025-2026 | 104th General Assembly | Introduced

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Bill Title: If and only if Senate Bill 1667 of the 104th General Assembly becomes law in the form in which it passed the Senate, amends the Revised Uniform Unclaimed Property Act. Excludes from the definition of "finder": (A) a person holding a durable power of attorney of a person who is medically incapacitated; (B) a bankruptcy trustee, bankruptcy estate representative, or other person or business association authorized pursuant to the Bankruptcy Title of the U.S. Code or an order of a bankruptcy court to act on behalf of or for the benefit of the reported owner's creditors and bankruptcy estate, or the successor or assignee thereof; (C) an assignee for the benefit of a business association's creditors pursuant to applicable state or federal law, or the successor or assignee thereof; (D) a court-ordered receiver for a business association, or the successor or assignee thereof; (E) a survivor, corporate designee, assignee, successor, governor, or delegate of a business association pursuant to a merger, conversion, acquisition, divestiture, joint venture, assignment, wind-down, resolution, or corporate reorganization, or the successor or assignee thereof; (F) an employee of an owner; and (G) any other person that is entitled to receive the property under other law, court order, or policy.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2025-05-16 - Referred to Rules Committee [HB4057 Detail]

Download: Illinois-2025-HB4057-Introduced.html

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104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB4057 Introduced , by Rep. Dan Ugaste SYNOPSIS AS INTRODUCED:
765 ILCS 1026/15-102
If and only if Senate Bill 1667 of the 104th General Assembly becomes law in the form in which it passed the Senate, amends the Revised Uniform Unclaimed Property Act. Excludes from the definition of "finder": (A) a person holding a durable power of attorney of a person who is medically incapacitated; (B) a bankruptcy trustee, bankruptcy estate representative, or other person or business association authorized pursuant to the Bankruptcy Title of the U.S. Code or an order of a bankruptcy court to act on behalf of or for the benefit of the reported owner's creditors and bankruptcy estate, or the successor or assignee thereof; (C) an assignee for the benefit of a business association's creditors pursuant to applicable state or federal law, or the successor or assignee thereof; (D) a court-ordered receiver for a business association, or the successor or assignee thereof; (E) a survivor, corporate designee, assignee, successor, governor, or delegate of a business association pursuant to a merger, conversion, acquisition, divestiture, joint venture, assignment, wind-down, resolution, or corporate reorganization, or the successor or assignee thereof; (F) an employee of an owner; and (G) any other person that is entitled to receive the property under other law, court order, or policy.
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A BILL FOR
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AN ACT concerning civil law.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. If and only if Senate Bill 1667 of the 104th
General Assembly becomes law in the form in which it passed the
Senate on April 10, 2025, then the Revised Uniform Unclaimed
Property Act is amended by changing Section 15-102 as follows:
(765 ILCS 1026/15-102)
Sec. 15-102. Definitions. In this Act:
(1) "Administrator" means the State Treasurer.
(2) "Administrator's agent" means a person with which
the administrator contracts to conduct an examination
under Article 10 on behalf of the administrator. The term
includes an independent contractor of the person and each
individual participating in the examination on behalf of
the person or contractor.
(2.5) (Blank).
(3) "Apparent owner" means a person whose name appears
on the records of a holder as the owner of property held,
issued, or owing by the holder.
(4) "Business association" means a corporation, joint
stock company, investment company, unincorporated
association, joint venture, limited liability company,

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business trust, trust company, land bank, safe deposit
company, safekeeping depository, financial organization,
insurance company, federally chartered entity, utility,
sole proprietorship, or other business entity, whether or
not for profit.
(5) "Confidential information" means information that
is "personal information" under the Personal Information
Protection Act, "private information" under the Freedom of
Information Act or personal information contained within
public records, the disclosure of which would constitute a
clearly unwarranted invasion of personal privacy, unless
the disclosure is consented to in writing by the
individual subjects of the information as provided in the
Freedom of Information Act.
(6) "Domicile" means:
(A) for a corporation, the state of its
incorporation;
(B) for a business association whose formation
requires a filing with a state, other than a
corporation, the state of its filing;
(C) for a federally chartered entity or an
investment company registered under the Investment
Company Act of 1940, the state of its home office; and
(D) for any other holder, the state of its
principal place of business.
(7) "Electronic" means relating to technology having

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electrical, digital, magnetic, wireless, optical,
electromagnetic, or similar capabilities.
(8) "Electronic mail" means a communication by
electronic means which is automatically retained and
stored and may be readily accessed or retrieved.
(8.5) "Escheat fee" means any charge imposed solely by
virtue of property being reported as presumed abandoned.
(9) "Financial organization" means a bank, savings
bank, foreign bank, corporate fiduciary, currency
exchange, money transmitter, or credit union.
(9.5) "Finder" means (i) a person engaged in the
location, recovery, purchase, or assignment of property
held by the administrator for a fee, compensation,
commission, or other remuneration paid by the owner of the
property or (ii) a person engaged in assisting in the
location, recovery, purchase, or assignment of property
held by the administrator for a fee, compensation,
commission, or other remuneration paid by the owner of the
property. "Finder" does not include (A) a person holding a
durable power of attorney of a person who is medically
incapacitated; (B) a bankruptcy trustee, bankruptcy estate
representative, or other person or business association
authorized pursuant to Title 11 of the U.S. Code or an
order of a bankruptcy court to act on behalf of or for the
benefit of the reported owner's creditors and bankruptcy
estate, or the successor or assignee thereof; (C) an

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assignee for the benefit of a business association's
creditors pursuant to applicable state or federal law, or
the successor or assignee thereof; (D) a court-ordered
receiver for a business association, or the successor or
assignee thereof; (E) a survivor, corporate designee,
assignee, successor, governor, or delegate of a business
association pursuant to a merger, conversion, acquisition,
divestiture, joint venture, assignment, wind-down,
resolution, or corporate reorganization, or the successor
or assignee thereof; (F) an employee of an owner; and (G)
any other person that is entitled to receive the property
under other law, court order, or policy.
(10) "Game-related digital content" means digital
content that exists only in an electronic game or
electronic-game platform. The term:
(A) includes:
(i) game-play currency such as a virtual
wallet, even if denominated in United States
currency; and
(ii) the following if for use or redemption
only within the game or platform or another
electronic game or electronic-game platform:
(I) points sometimes referred to as gems,
tokens, gold, and similar names; and
(II) digital codes; and
(B) does not include an item that the issuer:

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(i) permits to be redeemed for use outside a
game or platform for:
(I) money; or
(II) goods or services that have more than
minimal value; or
(ii) otherwise monetizes for use outside a
game or platform.
(11) "Gift card" means a record evidencing a promise
made for consideration by the seller or issuer of the
record that goods, services, or money will be provided to
the owner of the record to the value or amount shown in the
record that is either:
(A) a record:
(i) issued on a prepaid basis primarily for
personal, family, or household purposes to a
consumer in a specified amount;
(ii) the value of which does not expire;
(iii) that is not subject to a dormancy,
inactivity, or post-sale service fee;
(iv) that is redeemable upon presentation for
goods or services; and
(v) that, unless required by law, may not be
redeemed for or converted into money or otherwise
monetized by the issuer; or
(B) a prepaid commercial mobile radio service, as
defined in 47 CFR 20.3, as amended.

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(12) "Holder" means a person obligated to hold for the
account of, or to deliver or pay to, the owner, property
subject to this Act.
(13) "Insurance company" means an association,
corporation, or fraternal or mutual-benefit organization,
whether or not for profit, engaged in the business of
providing life endowments, annuities, or insurance,
including accident, burial, casualty, credit-life,
contract-performance, dental, disability, fidelity, fire,
health, hospitalization, illness, life, malpractice,
marine, mortgage, surety, wage-protection, and
worker-compensation insurance.
(14) "Loyalty card" means a record given without
direct monetary consideration under an award, reward,
benefit, loyalty, incentive, rebate, or promotional
program which may be used or redeemed only to obtain goods
or services or a discount on goods or services. The term
does not include a record that may be redeemed for money or
otherwise monetized by the issuer.
(15) "Mineral" means gas, oil, coal, oil shale, other
gaseous liquid or solid hydrocarbon, cement material, sand
and gravel, road material, building stone, chemical raw
material, gemstone, fissionable and nonfissionable ores,
colloidal and other clay, steam and other geothermal
resources, and any other substance defined as a mineral by
law of this State other than this Act.

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(16) "Mineral proceeds" means an amount payable for
extraction, production, or sale of minerals, or, on the
abandonment of the amount, an amount that becomes payable
after abandonment. The term includes an amount payable:
(A) for the acquisition and retention of a mineral
lease, including a bonus, royalty, compensatory
royalty, shut-in royalty, minimum royalty, and delay
rental;
(B) for the extraction, production, or sale of
minerals, including a net revenue interest, royalty,
overriding royalty, extraction payment, and production
payment; and
(C) under an agreement or option, including a
joint-operating agreement, unit agreement, pooling
agreement, and farm-out agreement.
(17) "Money order" means a payment order for a
specified amount of money. The term includes an express
money order and a personal money order on which the
remitter is the purchaser.
(18) "Municipal bond" means a bond or evidence of
indebtedness issued by a municipality or other political
subdivision of a state.
(19) "Net card value" means the original purchase
price or original issued value of a stored-value card,
plus amounts added to the original price or value, minus
amounts used and any service charge, fee, or dormancy

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charge permitted by law.
(20) "Non-freely transferable security" means a
security that cannot be delivered to the administrator by
the Depository Trust Clearing Corporation or similar
custodian of securities providing post-trade clearing and
settlement services to financial markets or cannot be
delivered because there is no agent to effect transfer.
The term includes a worthless security.
(21) "Owner", unless the context otherwise requires,
means a person that has a legal, beneficial, or equitable
interest in property subject to this Act or the person's
legal representative when acting on behalf of the owner.
The term includes:
(A) a depositor, for a deposit;
(B) a beneficiary, for a trust other than a
deposit in trust;
(C) a creditor, claimant, or payee, for other
property; and
(D) the lawful bearer of a record that may be used
to obtain money, a reward, or a thing of value.
(22) "Payroll card" means a record that evidences a
payroll-card account as defined in Regulation E, 12 CFR
Part 1005, as amended.
(23) "Person" means an individual, estate, business
association, public corporation, government or
governmental subdivision, agency, or instrumentality, or

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other legal entity, whether or not for profit.
(24) "Property" means tangible property described in
Section 15-205 or a fixed and certain interest in
intangible property held, issued, or owed in the course of
a holder's business or by a government, governmental
subdivision, agency, or instrumentality. The term:
(A) includes all income from or increments to the
property;
(B) includes property referred to as or evidenced
by:
(i) money, virtual currency, interest, or a
dividend, check, draft, deposit, or payroll card;
(ii) a credit balance, customer's overpayment,
stored-value card, security deposit, refund,
credit memorandum, unpaid wage, unused ticket for
which the issuer has an obligation to provide a
refund, mineral proceeds, or unidentified
remittance;
(iii) a security except for:
(I) a worthless security; or
(II) a security that is subject to a lien,
legal hold, or restriction evidenced on the
records of the holder or imposed by operation
of law, if the lien, legal hold, or
restriction restricts the holder's or owner's
ability to receive, transfer, sell, or

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otherwise negotiate the security;
(iv) a bond, debenture, note, or other
evidence of indebtedness;
(v) money deposited to redeem a security, make
a distribution, or pay a dividend;
(vi) an amount due and payable under an
annuity contract or insurance policy;
(vii) an amount distributable from a trust or
custodial fund established under a plan to provide
health, welfare, pension, vacation, severance,
retirement, death, stock purchase, profit-sharing,
employee-savings, supplemental-unemployment
insurance, or a similar benefit; and
(viii) any instrument on which a financial
organization or business association is directly
liable; and
(C) does not include:
(i) game-related digital content;
(ii) a loyalty card;
(iii) a gift card; or
(iv) funds on deposit or held in trust
pursuant to Section 16 of the Illinois Pre-Need
Cemetery Sales Act.
(25) "Putative holder" means a person believed by the
administrator to be a holder, until the person pays or
delivers to the administrator property subject to this Act

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or the administrator or a court makes a final
determination that the person is or is not a holder.
(26) "Record" means information that is inscribed on a
tangible medium or that is stored in an electronic or
other medium and is retrievable in perceivable form. The
phrase "records of the holder" includes records maintained
by a third party that has contracted with the holder.
(27) "Security" means:
(A) a security as defined in Article 8 of the
Uniform Commercial Code;
(B) a security entitlement as defined in Article 8
of the Uniform Commercial Code, including a customer
security account held by a registered broker-dealer,
to the extent the financial assets held in the
security account are not:
(i) registered on the books of the issuer in
the name of the person for which the broker-dealer
holds the assets;
(ii) payable to the order of the person; or
(iii) specifically indorsed to the person; or
(C) an equity interest in a business association
not included in subparagraph (A) or (B).
(28) "Sign" means, with present intent to authenticate
or adopt a record:
(A) to execute or adopt a tangible symbol; or
(B) to attach to or logically associate with the

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record an electronic symbol, sound, or process.
(29) "State" means a state of the United States, the
District of Columbia, the Commonwealth of Puerto Rico, the
United States Virgin Islands, or any territory or insular
possession subject to the jurisdiction of the United
States.
(30) "Stored-value card" means a card, code, or other
device that is:
(A) issued on a prepaid basis primarily for
personal, family, or household purposes to a consumer
in a specified amount, whether or not that amount may
be increased or reloaded in exchange for payment; and
(B) redeemable upon presentation at multiple
unaffiliated merchants for goods or services or usable
at automated teller machines; and
"Stored-value card" does not include a gift card,
payroll card, loyalty card, or game-related digital
content.
(31) "Utility" means a person that owns or operates
for public use a plant, equipment, real property,
franchise, or license for the following public services:
(A) transmission of communications or information;
(B) production, storage, transmission, sale,
delivery, or furnishing of electricity, water, steam,
or gas; or
(C) provision of sewage or septic services, or

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trash, garbage, or recycling disposal.
(32) "Virtual currency" means any type of digital
unit, including cryptocurrency, used as a medium of
exchange, unit of account, or a form of digitally stored
value, which does not have legal tender status recognized
by the United States. The term does not include:
(A) the software or protocols governing the
transfer of the digital representation of value;
(B) game-related digital content; or
(C) a loyalty card or gift card.
(33) "Worthless security" means a security whose cost
of liquidation and delivery to the administrator would
exceed the value of the security on the date a report is
due under this Act.
(Source: P.A. 101-552, eff. 1-1-20; 102-288, eff. 8-6-21;
10400SB1667eng.)