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1 AN ACT concerning civil law.


2 Be it enacted by the People of the State of Illinois,

3represented in the General Assembly:



4 Section 5. The Revised Uniform Unclaimed Property Act is 
5amended by changing Sections 15-102, 15-201, 15-206, 15-403, 
615-501, 15-502, 15-503, 15-602, 15-606, 15-607, 15-1002.1, 
715-1302, and 15-1401 as follows:

8 (765 ILCS 1026/15-102)
9 (This Section may contain text from a Public Act with a 
10delayed effective date)

11 Sec. 15-102. Definitions. In this Act:
12  (1) "Administrator" means the State Treasurer. 
13  (2) "Administrator's agent" means a person with which 
14 the administrator contracts to conduct an examination 
15 under Article 10 on behalf of the administrator. The term 
16 includes an independent contractor of the person and each 
17 individual participating in the examination on behalf of 
18 the person or contractor. 
19  (2.5) (Blank) "Affiliated group of merchants" means 2 
20 or more affiliated merchants or other persons that are 
21 related by common ownership or common corporate control and 
22 that share the same name, mark, or logo. The term also 
23 applies to 2 or more merchants or other persons that agree 
 
 
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1 among themselves, by contract or otherwise, to redeem 
2 cards, codes, or other devices bearing the same name, mark, 
3 or logo (other than the mark, logo, or brand of a payment 
4 network), for the purchase of goods or services solely at 
5 such merchants or persons. However, merchants or other 
6 persons are not considered to be affiliated merely because 
7 they agree to accept a card that bears the mark, logo, or 
8 brand of a payment network.
9  (3) "Apparent owner" means a person whose name appears 
10 on the records of a holder as the owner of property held, 
11 issued, or owing by the holder. 
12  (4) "Business association" means a corporation, joint 
13 stock company, investment company, unincorporated 
14 association, joint venture, limited liability company, 
15 business trust, trust company, land bank, safe deposit 
16 company, safekeeping depository, financial organization, 
17 insurance company, federally chartered entity, utility, 
18 sole proprietorship, or other business entity, whether or 
19 not for profit.
20  (5) "Confidential information" means information that 
21 is "personal information" under the Personal Information 
22 Protection Act, "private information" under the Freedom of 
23 Information Act or personal information contained within 
24 public records, the disclosure of which would constitute a 
25 clearly unwarranted invasion of personal privacy, unless 
26 the disclosure is consented to in writing by the individual 
 
 
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1 subjects of the information as provided in the Freedom of 
2 Information Act.
3  (6) "Domicile" means:
4   (A) for a corporation, the state of its 
5 incorporation;
6   (B) for a business association whose formation 
7 requires a filing with a state, other than a 
8 corporation, the state of its filing;
9   (C) for a federally chartered entity or an 
10 investment company registered under the Investment 
11 Company Act of 1940, the state of its home office; and 
12   (D) for any other holder, the state of its 
13 principal place of business.
14  (7) "Electronic" means relating to technology having 
15 electrical, digital, magnetic, wireless, optical, 
16 electromagnetic, or similar capabilities. 
17  (8) "Electronic mail" means a communication by 
18 electronic means which is automatically retained and 
19 stored and may be readily accessed or retrieved. 
20 (8.5) "Escheat fee" means any charge imposed solely by 
21virtue of property being reported as presumed abandoned. 
22  (9) "Financial organization" means a bank, savings 
23 bank, foreign bank, corporate fiduciary, currency 
24 exchange, money transmitter, or credit union. 
25  (10) "Game-related digital content" means digital 
26 content that exists only in an electronic game or 
 
 
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1 electronic-game platform. The term:
2   (A) includes: 
3    (i) game-play currency such as a virtual 
4 wallet, even if denominated in United States 
5 currency; and
6    (ii) the following if for use or redemption 
7 only within the game or platform or another 
8 electronic game or electronic-game platform: 
9     (I) points sometimes referred to as gems, 
10 tokens, gold, and similar names; and 
11     (II) digital codes; and
12   (B) does not include an item that the issuer:
13    (i) permits to be redeemed for use outside a 
14 game or platform for:
15     (I) money; or 
16     (II) goods or services that have more than 
17 minimal value; or
18    (ii) otherwise monetizes for use outside a 
19 game or platform.
20  (11) "Gift card" means a record evidencing a promise 
21 made for consideration by the seller or issuer of the 
22 record that goods, services, or money will be provided to 
23 the owner of the record to the value or amount shown in the 
24 record that is either:
25   (A) a record stored-value card:
26    (i) issued on a prepaid basis primarily for 
 
 
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1 personal, family, or household purposes to a 
2 consumer in a specified amount;
3    (ii) the value of which does not expire;
4    (iii) that is not subject to a dormancy, 
5 inactivity, or post-sale service fee;
6    (iv) that is redeemable upon presentation for 
7 goods or services may be decreased in value only by 
8 redemption for merchandise, goods, or services 
9 upon presentation at a single merchant or an 
10 affiliated group of merchants; and 
11    (v) that, unless required by law, may not be 
12 redeemed for or converted into money or otherwise 
13 monetized by the issuer; or and
14   (B) includes a prepaid commercial mobile radio 
15 service, as defined in 47 C.F.R. 20.3, as amended.
16  (12) "Holder" means a person obligated to hold for the 
17 account of, or to deliver or pay to, the owner, property 
18 subject to this Act.
19  (13) "Insurance company" means an association, 
20 corporation, or fraternal or mutual-benefit organization, 
21 whether or not for profit, engaged in the business of 
22 providing life endowments, annuities, or insurance, 
23 including accident, burial, casualty, credit-life, 
24 contract-performance, dental, disability, fidelity, fire, 
25 health, hospitalization, illness, life, malpractice, 
26 marine, mortgage, surety, wage-protection, and 
 
 
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1 worker-compensation insurance.
2  (14) "Loyalty card" means a record given without direct 
3 monetary consideration under an award, reward, benefit, 
4 loyalty, incentive, rebate, or promotional program which 
5 may be used or redeemed only to obtain goods or services or 
6 a discount on goods or services. The term does not include 
7 a record that may be redeemed for money or otherwise 
8 monetized by the issuer.
9  (15) "Mineral" means gas, oil, coal, oil shale, other 
10 gaseous liquid or solid hydrocarbon, cement material, sand 
11 and gravel, road material, building stone, chemical raw 
12 material, gemstone, fissionable and nonfissionable ores, 
13 colloidal and other clay, steam and other geothermal 
14 resources, and any other substance defined as a mineral by 
15 law of this State other than this Act.
16  (16) "Mineral proceeds" means an amount payable for 
17 extraction, production, or sale of minerals, or, on the 
18 abandonment of the amount, an amount that becomes payable 
19 after abandonment. The term includes an amount payable: 
20   (A) for the acquisition and retention of a mineral 
21 lease, including a bonus, royalty, compensatory 
22 royalty, shut-in royalty, minimum royalty, and delay 
23 rental; 
24   (B) for the extraction, production, or sale of 
25 minerals, including a net revenue interest, royalty, 
26 overriding royalty, extraction payment, and production 
 
 
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1 payment; and 
2   (C) under an agreement or option, including a 
3 joint-operating agreement, unit agreement, pooling 
4 agreement, and farm-out agreement. 
5  (17) "Money order" means a payment order for a 
6 specified amount of money. The term includes an express 
7 money order and a personal money order on which the 
8 remitter is the purchaser. 
9  (18) "Municipal bond" means a bond or evidence of 
10 indebtedness issued by a municipality or other political 
11 subdivision of a state.
12  (19) "Net card value" means the original purchase price 
13 or original issued value of a stored-value card, plus 
14 amounts added to the original price or value, minus amounts 
15 used and any service charge, fee, or dormancy charge 
16 permitted by law.
17  (20) "Non-freely transferable security" means a 
18 security that cannot be delivered to the administrator by 
19 the Depository Trust Clearing Corporation or similar 
20 custodian of securities providing post-trade clearing and 
21 settlement services to financial markets or cannot be 
22 delivered because there is no agent to effect transfer. The 
23 term includes a worthless security. 
24  (21) "Owner", unless the context otherwise requires, 
25 means a person that has a legal, beneficial, or equitable 
26 interest in property subject to this Act or the person's 
 
 
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1 legal representative when acting on behalf of the owner. 
2 The term includes:
3   (A) a depositor, for a deposit; 
4   (B) a beneficiary, for a trust other than a deposit 
5 in trust; 
6   (C) a creditor, claimant, or payee, for other 
7 property; and 
8   (D) the lawful bearer of a record that may be used 
9 to obtain money, a reward, or a thing of value. 
10  (22) "Payroll card" means a record that evidences a 
11 payroll-card account as defined in Regulation E, 12 CFR 
12 Part 1005, as amended.
13  (23) "Person" means an individual, estate, business 
14 association, public corporation, government or 
15 governmental subdivision, agency, or instrumentality, or 
16 other legal entity, whether or not for profit. 
17  (24) "Property" means tangible property described in 
18 Section 15-201 or a fixed and certain interest in 
19 intangible property held, issued, or owed in the course of 
20 a holder's business or by a government, governmental 
21 subdivision, agency, or instrumentality. The term: 
22   (A) includes all income from or increments to the 
23 property;
24   (B) includes property referred to as or evidenced 
25 by:
26    (i) money, virtual currency, interest, or a 
 
 
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1 dividend, check, draft, deposit, or payroll card; 
2    (ii) a credit balance, customer's overpayment, 
3 stored-value card, security deposit, refund, 
4 credit memorandum, unpaid wage, unused ticket for 
5 which the issuer has an obligation to provide a 
6 refund, mineral proceeds, or unidentified 
7 remittance; 
8    (iii) a security except for: 
9     (I) a worthless security; or 
10     (II) a security that is subject to a lien, 
11 legal hold, or restriction evidenced on the 
12 records of the holder or imposed by operation 
13 of law, if the lien, legal hold, or restriction 
14 restricts the holder's or owner's ability to 
15 receive, transfer, sell, or otherwise 
16 negotiate the security;
17    (iv) a bond, debenture, note, or other 
18 evidence of indebtedness; 
19    (v) money deposited to redeem a security, make 
20 a distribution, or pay a dividend; 
21    (vi) an amount due and payable under an annuity 
22 contract or insurance policy; and 
23    (vii) an amount distributable from a trust or 
24 custodial fund established under a plan to provide 
25 health, welfare, pension, vacation, severance, 
26 retirement, death, stock purchase, profit-sharing, 
 
 
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1 employee-savings, supplemental-unemployment 
2 insurance, or a similar benefit; and 
3    (viii) any instrument on which a financial 
4 organization or business association is directly 
5 liable; and 
6   (C) does not include:
7    (i) game-related digital content;
8    (ii) a loyalty card; or
9    (iii) a gift card.
10  (25) "Putative holder" means a person believed by the 
11 administrator to be a holder, until the person pays or 
12 delivers to the administrator property subject to this Act 
13 or the administrator or a court makes a final determination 
14 that the person is or is not a holder. 
15  (26) "Record" means information that is inscribed on a 
16 tangible medium or that is stored in an electronic or other 
17 medium and is retrievable in perceivable form. The phrase 
18 "records of the holder" includes records maintained by a 
19 third party that has contracted with the holder.
20  (27) "Security" means: 
21   (A) a security as defined in Article 8 of the 
22 Uniform Commercial Code;
23   (B) a security entitlement as defined in Article 8 
24 of the Uniform Commercial Code, including a customer 
25 security account held by a registered broker-dealer, 
26 to the extent the financial assets held in the security 
 
 
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1 account are not:
2    (i) registered on the books of the issuer in 
3 the name of the person for which the broker-dealer 
4 holds the assets; 
5    (ii) payable to the order of the person; or 
6    (iii) specifically indorsed to the person; or 
7   (C) an equity interest in a business association 
8 not included in subparagraph (A) or (B).
9  (28) "Sign" means, with present intent to authenticate 
10 or adopt a record:
11   (A) to execute or adopt a tangible symbol; or 
12   (B) to attach to or logically associate with the 
13 record an electronic symbol, sound, or process.
14  (29) "State" means a state of the United States, the 
15 District of Columbia, the Commonwealth of Puerto Rico, the 
16 United States Virgin Islands, or any territory or insular 
17 possession subject to the jurisdiction of the United 
18 States.
19  (30) "Stored-value card" means a card, code, or other 
20 device that is: a record evidencing a promise made for 
21 consideration by the seller or issuer of the record that 
22 goods, services, or money will be provided to the owner of 
23 the record to the value or amount shown in the record. The 
24 term:
25   (A) issued on a prepaid basis primarily for 
26 personal, family, or household purposes to a consumer 
 
 
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1 in a specified amount, whether or not that amount may 
2 be increased or reloaded in exchange for payment; and 
3 includes: 
4    (i) a record that contains or consists of a 
5 microprocessor chip, magnetic strip, or other 
6 means for the storage of information, which is 
7 prefunded and whose value or amount is decreased on 
8 each use and increased by payment of additional 
9 consideration; and 
10    (ii) a gift card and payroll card; and
11   (B) redeemable upon presentation at multiple 
12 unaffiliated merchants for goods or services or usable 
13 at automated teller machines; and 
14  "Stored-value card" does not include a gift card, 
15 payroll card, loyalty card, or game-related digital 
16 content.
17  (31) "Utility" means a person that owns or operates for 
18 public use a plant, equipment, real property, franchise, or 
19 license for the following public services:
20   (A) transmission of communications or information;
21   (B) production, storage, transmission, sale, 
22 delivery, or furnishing of electricity, water, steam, 
23 or gas; or 
24   (C) provision of sewage or septic services, or 
25 trash, garbage, or recycling disposal.
26  (32) "Virtual currency" means a digital representation 
 
 
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1 of value used as a medium of exchange, unit of account, or 
2 store of value, which does not have legal tender status 
3 recognized by the United States. The term does not include:
4   (A) the software or protocols governing the 
5 transfer of the digital representation of value; 
6   (B) game-related digital content; or
7   (C) a loyalty card or gift card.
8  (33) "Worthless security" means a security whose cost 
9 of liquidation and delivery to the administrator would 
10 exceed the value of the security on the date a report is 
11 due under this Act.

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

13 (765 ILCS 1026/15-201)
14 (This Section may contain text from a Public Act with a 
15delayed effective date)

16 Sec. 15-201. When property presumed abandoned. Subject to 
17Section 15-210, the following property is presumed abandoned if 
18it is unclaimed by the apparent owner during the period 
19specified below: 
20  (1) a traveler's check, 15 years after issuance;
21  (2) a money order, 7 years after issuance;
22  (3) any instrument on which a financial organization or 
23 business association is directly liable, 3 years after 
24 issuance; (Blank).
25  (4) a state or municipal bond, bearer bond, or 
 
 
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1 original-issue-discount bond, 3 years after the earliest 
2 of the date the bond matures or is called or the obligation 
3 to pay the principal of the bond arises;
4  (5) a debt of a business association, 3 years after the 
5 obligation to pay arises; 
6  (6) a demand, savings, or time deposit, 3 years after 
7 the later of maturity or the date of the last indication of 
8 interest in the property by the apparent owner, except for 
9 a deposit that is automatically renewable, 3 years after 
10 its initial date of maturity unless the apparent owner 
11 consented in a record on file with the holder to renewal at 
12 or about the time of the renewal;
13  (7) money or a credit owed to a customer as a result of 
14 a retail business transaction, other than in-store credit 
15 for returned merchandise, other than a stored-value card, 3 
16 years after the obligation arose; 
17  (8) an amount owed by an insurance company on a life or 
18 endowment insurance policy or an annuity contract that has 
19 matured or terminated, 3 years after the obligation to pay 
20 arose under the terms of the policy or contract or, if a 
21 policy or contract for which an amount is owed on proof of 
22 death has not matured by proof of the death of the insured 
23 or annuitant, as follows: 
24   (A) with respect to an amount owed on a life or 
25 endowment insurance policy, the earlier of:
26    (i) 3 years after the death of the insured; or
 
 
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1    (ii) 2 years after the insured has attained, or 
2 would have attained if living, the limiting age 
3 under the mortality table on which the reserve for 
4 the policy is based; and 
5   (B) with respect to an amount owed on an annuity 
6 contract, 3 years after the death of the annuitant.
7  (9) funds on deposit or held in trust pursuant to the 
8 Illinois Funeral or Burial Funds Act for the prepayment of 
9 a funeral or other funeral-related expenses, the earliest 
10 of:
11   (A) 2 years after the date of death of the 
12 beneficiary;
13   (B) one year after the date the beneficiary has 
14 attained, or would have attained if living, the age of 
15 105 where the holder does not know whether the 
16 beneficiary is deceased;
17   (C) 40 30 years after the contract for prepayment 
18 was executed;
19  (10) property distributable by a business association 
20 in the course of dissolution or distributions from the 
21 termination of a retirement plan, one year after the 
22 property becomes distributable;
23  (11) property held by a court, including property 
24 received as proceeds of a class action, 3 years after the 
25 property becomes distributable; 
26  (12) property held by a government or governmental 
 
 
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1 subdivision, agency, or instrumentality, including 
2 municipal bond interest and unredeemed principal under the 
3 administration of a paying agent or indenture trustee, 3 
4 years after the property becomes distributable;
5  (13) wages, commissions, bonuses, or reimbursements to 
6 which an employee is entitled, or other compensation for 
7 personal services, including amounts held on a payroll 
8 card, one year after the amount becomes payable;
9  (14) a deposit or refund owed to a subscriber by a 
10 utility, one year after the deposit or refund becomes 
11 payable, except that any capital credits or patronage 
12 capital retired, returned, refunded or tendered to a member 
13 of an electric cooperative, as defined in Section 3.4 of 
14 the Electric Supplier Act, or a telephone or 
15 telecommunications cooperative, as defined in Section 
16 13-212 of the Public Utilities Act, that has remained 
17 unclaimed by the person appearing on the records of the 
18 entitled cooperative for more than 2 years, shall not be 
19 subject to, or governed by, any other provisions of this 
20 Act, but rather shall be used by the cooperative for the 
21 benefit of the general membership of the cooperative; and
22  (15) property not specified in this Section or Sections 
23 15-202 through 15-208, the earlier of 3 years after the 
24 owner first has a right to demand the property or the 
25 obligation to pay or distribute the property arises.
26 Notwithstanding anything to the contrary in this Section 
 
 
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115-201, and subject to Section 15-210, a deceased owner cannot 
2indicate interest in his or her property. If the owner is 
3deceased and the abandonment period for the owner's property 
4specified in this Section 15-201 is greater than 2 years, then 
5the property, other than an amount owed by an insurance company 
6on a life or endowment insurance policy or an annuity contract 
7that has matured or terminated, shall instead be presumed 
8abandoned 2 years from the date of the owner's last indication 
9of interest in the property.

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

11 (765 ILCS 1026/15-206)
12 (This Section may contain text from a Public Act with a 
13delayed effective date)

14 Sec. 15-206. When stored-value card presumed abandoned.
15 (a) Subject to Section 15-210, the net card value of a 
16stored-value card, other than a payroll card or a gift card, is 
17presumed abandoned on the latest of 5 years after: 
18  (1) December 31 of the year in which the card is issued 
19 or additional funds are deposited into it; 
20  (2) the most recent indication of interest in the card 
21 by the apparent owner; or 
22  (3) a verification or review of the balance by or on 
23 behalf of the apparent owner. 
24 (b) The amount presumed abandoned in a stored-value card is 
25the net card value at the time it is presumed abandoned.
 
 
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1 (c) However, if a holder has reported and remitted to the 
2administrator the net card value on a stored-value card 
3presumed abandoned under this Section and the stored-value card 
4does not have an expiration date, then the holder must honor 
5the card on presentation indefinitely and may then request 
6reimbursement from the administrator under Section 605.

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

8 (765 ILCS 1026/15-403)
9 (This Section may contain text from a Public Act with a 
10delayed effective date)

11 Sec. 15-403. When report to be filed.
12 (a) Except as otherwise provided in subsection (b) and 
13subject to subsection (c), the report under Section 15-401 must 
14be filed before November 1 of each year and cover the 12 months 
15preceding July 1 of that year. Business associations which must 
16report under this subsection (a) include financial 
17organizations and insurance companies other than life 
18insurance companies; all other business associations must file 
19under subsection (b). 
20 (b) Subject to subsection (c), the report under Section 
2115-401 to be filed by any business associations that do not 
22report under subsection (a) , utilities, and life insurance 
23companies must be filed before May 1 of each year for the 
24immediately preceding calendar year.
25 (c) Before the date for filing the report under Section 
 
 
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115-401, the holder of property presumed abandoned may request 
2the administrator to extend the time for filing. The 
3administrator may grant an extension. If the extension is 
4granted, the holder may pay or make a partial payment of the 
5amount the holder estimates ultimately will be due. The payment 
6or partial payment terminates accrual of interest on the amount 
7paid.

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

9 (765 ILCS 1026/15-501)
10 (This Section may contain text from a Public Act with a 
11delayed effective date)

12 Sec. 15-501. Notice to apparent owner by holder.
13 (a) Subject to subsections (b) and (c), the holder of 
14property presumed abandoned shall send to the apparent owner 
15notice by first-class United States mail that complies with 
16Section 15-502 in a format acceptable to the administrator not 
17more than one year nor less than 60 days before filing the 
18report under Section 15-401 if:
19  (1) the holder has in its records an address for the 
20 apparent owner which the holder's records do not disclose 
21 to be invalid and is sufficient to direct the delivery of 
22 first-class United States mail to the apparent owner; and
23  (2) the value of the property is $50 or more.
24 (b) If an apparent owner has consented to receive 
25electronic-mail delivery from the holder, the holder shall send 
 
 
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1the notice described in subsection (a) both by first-class 
2United States mail to the apparent owner's last-known mailing 
3address and by electronic mail, unless the holder believes that 
4the apparent owner's electronic-mail address is invalid.
5 (c) The holder of securities presumed abandoned under 
6Sections 15-202, 15-203, or 15-208 shall send to the apparent 
7owner notice by certified United States mail that complies with 
8Section 15-502 in a format acceptable to the administrator not 
9less than 60 days before filing the report under Section 15-401 
10if:
11  (1) the holder has in its records an address for the 
12 apparent owner which the holder's records do not disclose 
13 to be invalid and is sufficient to direct the delivery of 
14 United States mail to the apparent owner; and
15  (2) the value of the property is $1,000 or more.
16 The administrator may issue rules allowing a holder to 
17deduct reasonable costs incurred in sending a notice by 
18certified United States mail under this subsection.
19 (d) In addition to other indications of an apparent owner's 
20interest in property pursuant to Section 15-210, a signed 
21return receipt in response to a notice sent pursuant to this 
22Section by certified United States mail shall constitute a 
23record communicated by the apparent owner to the holder 
24concerning the property or the account in which the property is 
25held.
26 (e) The administrator may adopt rules allowing a holder to 
 
 
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1deduct reasonable costs incurred in sending a notice by United 
2States mail under this Section. 

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

4 (765 ILCS 1026/15-502)
5 (This Section may contain text from a Public Act with a 
6delayed effective date)

7 Sec. 15-502. Contents of notice by holder.
8 (a) Notice under Section 15-501 must contain a heading that 
9reads substantially as follows: "Notice. The State of Illinois 
10requires us to notify you that your property may be transferred 
11to the custody of the State Treasurer administrator if you do 
12not contact us before (insert date that is 30 days after the 
13date of this notice).".
14 (b) The notice under Section 15-501 must:
15  (1) identify the nature and, except for property that 
16 does not have a fixed value, the value of the property that 
17 is the subject of the notice;
18  (2) state that the property will be turned over to the 
19 State Treasurer;
20  (3) state that after the property is turned over to the 
21 State Treasurer an apparent owner that seeks return of the 
22 property may file a claim with the State Treasurer 
23 administrator;
24  (4) state that property that is not legal tender of the 
25 United States may be sold by the State Treasurer;
 
 
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1  (5) provide instructions that the apparent owner must 
2 follow to prevent the holder from reporting and paying or 
3 delivering the property to the State Treasurer; and
4  (6) provide the name, address, and e-mail address or 
5 telephone number to contact the holder.
6 (c) The holder may supplement the required information by 
7listing a website where apparent owners may obtain more 
8information about how to prevent the holder from reporting and 
9paying or delivering the property to the State Treasurer.

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

11 (765 ILCS 1026/15-503)
12 (This Section may contain text from a Public Act with a 
13delayed effective date)

14 Sec. 15-503. Notice by administrator.
15 (a) The administrator shall give notice to an apparent 
16owner that property presumed abandoned and appears to be owned 
17by the apparent owner is held by the administrator under this 
18Act.
19 (b) In providing notice under subsection (a), the 
20administrator shall:
21  (1) except as otherwise provided in paragraph (2), send 
22 written notice by first-class United States mail to each 
23 apparent owner of property valued at $100 or more held by 
24 the administrator, unless the administrator determines 
25 that a mailing by first-class United States mail would not 
 
 
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1 be received by the apparent owner, and, in the case of a 
2 security held in an account for which the apparent owner 
3 had consented to receiving electronic mail from the holder, 
4 send notice by electronic mail if the electronic-mail 
5 address of the apparent owner is known to the administrator 
6 instead of by first-class United States mail; or
7  (2) send the notice to the apparent owner's 
8 electronic-mail address if the administrator does not have 
9 a valid United States mail address for an apparent owner, 
10 but has an electronic-mail address that the administrator 
11 does not know to be invalid.
12 (c) In addition to the notice under subsection (b), the 
13administrator shall:
14  (1) publish every 6 months in at least one English 
15 language newspaper of general circulation in each county in 
16 this State notice of property held by the administrator 
17 which must include:
18   (A) the total value of property received by the 
19 administrator during the preceding 6-month period, 
20 taken from the reports under Section 15-401;
21   (B) the total value of claims paid by the 
22 administrator during the preceding 6-month period;
23   (C) the Internet web address of the unclaimed 
24 property website maintained by the administrator;
25   (D) a telephone number and electronic-mail address 
26 to contact the administrator to inquire about or claim 
 
 
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1 property; and
2   (E) a statement that a person may access the 
3 Internet by a computer to search for unclaimed property 
4 and a computer may be available as a service to the 
5 public at a local public library.
6  (2) The administrator shall maintain a website 
7 accessible by the public and electronically searchable 
8 which contains the names reported to the administrator of 
9 apparent owners for whom property is being held by the 
10 administrator. The administrator need not list property on 
11 such website when: no owner name was reported, a claim has 
12 been initiated or is pending for the property, the 
13 administrator has made direct contact with the apparent 
14 owner of the property, and in other instances where the 
15 administrator reasonably believes exclusion of the 
16 property is in the best interests of both the State and the 
17 owner of the property.
18 (d) The website or database maintained under subsection 
19(c)(2) must include instructions for filing with the 
20administrator a claim to property and an online claim form with 
21instructions. The website may also provide a printable claim 
22form with instructions for its use.
23 (e) Tax return identification of apparent owners of 
24abandoned property.
25  (1) At least annually the administrator shall notify 
26 the Department of Revenue of the names of persons appearing 
 
 
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1 to be owners of abandoned property under this Section. The 
2 administrator shall also provide to the Department of 
3 Revenue the social security numbers of the persons, if 
4 available.
5  (2) The Department of Revenue shall notify the 
6 administrator if any person under subsection (e)(1) has 
7 filed an Illinois income tax return and shall provide the 
8 administrator with the last known address of the person as 
9 it appears in Department of Revenue records, except as 
10 prohibited by federal law. The Department of Revenue may 
11 also provide additional addresses for the same taxpayer 
12 from the records of the Department, except as prohibited by 
13 federal law.
14  (3) In order to facilitate the return of property under 
15 this subsection, the administrator and the Department of 
16 Revenue may enter into an interagency agreement concerning 
17 protection of confidential information, data match rules, 
18 and other issues.
19  (4) The administrator may deliver, as provided under 
20 Section 15-904 of this Act, property or pay the amount 
21 owing to a person matched under this Section without the 
22 person filing a claim under Section 15-903 of this Act if 
23 the following conditions are met:
24   (A) the value of the property that is owed the 
25 person is $2,000 or less;
26   (B) the property is not either tangible property or 
 
 
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1 securities;
2   (C) the last known address for the person according 
3 to the Department of Revenue records is less than 12 
4 months old; and
5   (D) the administrator has evidence sufficient to 
6 establish that the person who appears in Department of 
7 Revenue records is the owner of the property and the 
8 owner currently resides at the last known address from 
9 the Department of Revenue.
10  (5) If the value of the property that is owed the 
11 person is greater than $2,000, or is tangible property or 
12 securities the administrator shall provide notice to the 
13 person, informing the person that he or she is the owner of 
14 abandoned property held by the State and may file a claim 
15 with the administrator for return of the property.
16 (f) The administrator may use additional databases to 
17verify the identity of the person and that the person currently 
18resides at the last known address. The administrator may 
19utilize publicly and commercially available databases to find 
20and update or add information for apparent owners of property 
21held by the administrator.
22 (g) In addition to giving notice under subsection (b), 
23publishing the information under subsection (c)(1) and 
24maintaining the website or database under subsection (c)(2), 
25the administrator may use other printed publication, 
26telecommunication, the Internet, or other media to inform the 
 
 
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1public of the existence of unclaimed property held by the 
2administrator.

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

4 (765 ILCS 1026/15-602)
5 (This Section may contain text from a Public Act with a 
6delayed effective date)

7 Sec. 15-602. Dormancy charge; escheat fee.
8 (a) A holder may deduct a dormancy charge or an escheat fee 
9from property required to be paid or delivered to the 
10administrator if:
11  (1) a valid contract between the holder and the 
12 apparent owner authorizes imposition of the charge for the 
13 apparent owner's failure to claim the property within a 
14 specified time; and
15  (2) the holder regularly imposes the charge and 
16 regularly does not reverse or otherwise cancel the charge.
17 (b) The amount of the deduction under subsection (a) is 
18limited to an amount that is not unconscionable considering all 
19relevant factors, including the marginal transactional costs 
20incurred by the holder in maintaining the apparent owner's 
21property and any services received by the apparent owner.
22 (c) (Blank) A holder may not deduct an escheat fee or other 
23charges imposed solely by virtue of property being reported as 
24presumed abandoned.

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

 
 
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1 (765 ILCS 1026/15-606)
2 (This Section may contain text from a Public Act with a 
3delayed effective date)

4 Sec. 15-606. Property removed from safe-deposit box. 
5Property removed from a safe-deposit box and delivered under 
6this Act to the administrator under this Act is subject to the 
7holder's right to reimbursement for the cost of opening the box 
8and a lien or contract providing reimbursement to the holder 
9for unpaid rent charges for the box. Upon application by the 
10holder, and after there are sufficient cash funds available 
11either from the contents of the box or the sale of the 
12property, the administrator shall reimburse the holder from the 
13proceeds after the sale of the property, and after deducting 
14the expense incurred by the administrator in selling the 
15property, the administrator shall reimburse the holder from the 
16proceeds remaining. The administrator shall promulgate 
17administrative rules concerning the reimbursement process 
18under this Section.

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

20 (765 ILCS 1026/15-607)
21 (This Section may contain text from a Public Act with a 
22delayed effective date)

23 Sec. 15-607. Crediting income or gain to owner's account. 
24 (a) If property other than money is delivered to the 
 
 
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1administrator, the owner is entitled to receive from the 
2administrator income or gain realized or accrued on the 
3property before the property is sold. 
4 (b) Except as provided in subsection (c), interest Interest 
5on money is not payable to an owner for periods where the 
6property is in the possession of the administrator.

7 (c) If an interest-bearing demand, savings, or time deposit 
8is paid or delivered to the administrator on or after July 1, 
92018, then the administrator shall pay interest to the owner at 
10the lesser of: (i) the percentage increase, if any, in the 
11Consumer Price Index for All Urban Consumers for all items 
12published by the United States Department of Labor (CPI-U); or 
13(ii) the rate the property earned while in the possession of 
14the holder and reported to the administrator. Interest begins 
15to accrue when the property is delivered to the administrator 
16and ends on the earlier of the expiration of 10 years after its 
17delivery or the date on which payment is made to the owner. The 
18administrator may establish by administrative rule more 
19detailed methodologies for calculating the amount of interest 
20to be paid to an owner under this Section using CPI-U or the 
21rate the property earned while in the possession of the holder. 
22(Source: P.A. 100-22, eff. 1-1-18.)

23 (765 ILCS 1026/15-1002.1)
24 (This Section may contain text from a Public Act with a 
25delayed effective date)

 
 
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1 Sec. 15-1002.1. Examination of State-regulated financial 
2organizations institutions. 
3 (a) Notwithstanding Section 15-1002 of this Act, for any 
4financial organization for which the Department of Financial 
5and Professional Regulation is the primary prudential 
6regulator, the administrator shall not examine such financial 
7institution unless the administrator has consulted with the 
8Secretary of Financial and Professional Regulation and the 
9Department of Financial and Professional Regulation has not 
10examined such financial organization for compliance with this 
11Act within the past 5 years. The Secretary of Financial and 
12Professional Regulation may waive in writing the provisions of 
13this subsection (a) in order to permit the administrator to 
14examine a financial organization or group of financial 
15organizations for compliance with this Act.
16 (b) Nothing in this Section shall be construed to prohibit 
17the administrator from examining a financial organization for 
18which the Department of Financial and Professional Regulation 
19is not the primary prudential regulator. Further, nothing is 
20this Act shall be construed to limit the authority of the 
21Department of Financial and Professional Regulation to examine 
22financial organizations.

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

24 (765 ILCS 1026/15-1302)
25 (This Section may contain text from a Public Act with a 
 
 
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1delayed effective date)

2 Sec. 15-1302. When agreement to locate property void. 
3 (a) Subject to subsection (b), an agreement under Section 
415-1301 is void if it is entered into during the period 
5beginning on the date the property was presumed abandoned under 
6this Act and ending 24 months after the payment or delivery of 
7the property to the administrator.
8 (b) If a provision in an agreement described in Section 
915-1301 applies to mineral proceeds for which compensation is 
10to be paid to the other person based in whole or in part on a 
11part of the underlying minerals or mineral proceeds not then 
12presumed abandoned, the provision is void regardless of when 
13the agreement was entered into.
14 (c) An agreement under this Article 13 subsection (a) which 
15provides for compensation in an amount that is more than 10% of 
16the amount collected is unenforceable except by the apparent 
17owner.
18 (d) An apparent owner or the administrator may assert that 
19an agreement described in this Article 13 Section is void on a 
20ground other than it provides for payment of unconscionable 
21compensation.
22 (e) A person attempting to collect a contingent fee for 
23discovering, on behalf of an apparent owner, presumptively 
24abandoned property must be licensed as a private detective 
25pursuant to the Private Detective, Private Alarm, Private 
26Security, Fingerprint Vendor, and Locksmith Act of 2004.
 
 
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1 (f) This Section does not apply to an apparent owner's 
2agreement with an attorney to pursue a claim for recovery of 
3specifically identified property held by the administrator or 
4to contest the administrator's denial of a claim for recovery 
5of the property.

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

7 (765 ILCS 1026/15-1401)
8 (This Section may contain text from a Public Act with a 
9delayed effective date)

10 Sec. 15-1401. Confidential information. 
11 (a) Except as otherwise provided provide in this Section, 
12information that is confidential under law of this State other 
13than this Act, another state, or the United States, including 
14"private information" as defined in the Freedom of Information 
15Act and "personal information" as defined in the Personal 
16Information Protection Act, continues to be confidential when 
17disclosed or delivered under this Act to the administrator or 
18administrator's agent.
19 (b) Information provided in reports filed pursuant to 
20Section 15-401, information obtained in the course of an 
21examination pursuant to Section 15-1002, and the database 
22required by Section 15-503 is exempt from disclosure under the 
23Freedom of Information Act.
24 (c) If reasonably necessary to enforce or implement this 
25Act, the administrator or the administrator's agent may 
 
 
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1disclose confidential information concerning property held by 
2the administrator or the administrator's agent to:
3  (1) an apparent owner or the apparent owner's 
4 representative under the Probate Act of 1975, attorney, 
5 other legal representative, or relative;
6  (2) the representative under the Probate Act of 1975, 
7 other legal representative, relative of a deceased 
8 apparent owner, or a person entitled to inherit from the 
9 deceased apparent owner;
10  (3) another department or agency of this State or the 
11 United States;
12  (4) the person that administers the unclaimed property 
13 law of another state, if the other state accords 
14 substantially reciprocal privileges to the administrator 
15 of this State if the other state is required to maintain 
16 the confidentiality and security of information obtained 
17 in a manner substantially equivalent to Article 14;
18  (5) a person subject to an examination as required by 
19 Section 15-1004; and
20  (6) an agent of the administrator.
21 (d) (b) The administrator may include on the website or in 
22the database the names and addresses of apparent owners of 
23property held by the administrator as provided in Section 
2415-503. The administrator may include in published notices, 
25printed publications, telecommunications, the Internet, or 
26other media and on the website or in the database additional 
 
 
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1information concerning the apparent owner's property if the 
2administrator believes the information will assist in 
3identifying and returning property to the owner and does not 
4disclose personal information as defined in the Personal 
5Information Protection Act.
6 (e) (c) The administrator and the administrator's agent may 
7not use confidential information provided to them or in their 
8possession except as expressly authorized by this Act or 
9required by law other than this Act.

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