Sen. John J. Cullerton

Filed: 2/22/2007

 

 


 

 


 
09500SB0486sam001 LRB095 03620 AJO 31926 a

1
AMENDMENT TO SENATE BILL 486

2     AMENDMENT NO. ______. Amend Senate Bill 486 by replacing
3 everything after the enacting clause with the following:
 
4     "Section 5. The Code of Civil Procedure is amended by
5 adding Section 2-807 as follows:
 
6     (735 ILCS 5/2-807 new)
7     Sec. 2-807. Residual funds in a common fund created in a
8 class action.
9     (a) Definitions. As used in this Section:
10     "Eligible organization" means a not-for-profit
11 organization that has been in existence for no less than 3
12 years, has been tax exempt for no less than 3 years from the
13 payment of federal taxes under Section 501(c)(3) of the
14 Internal Revenue Code, and has a principal purpose of promoting
15 or providing services that would be eligible for funding under
16 the Illinois Equal Justice Act.

 

 

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1     "Residual funds" means all unclaimed funds, including
2 uncashed checks or other unclaimed payments, that remain in a
3 common fund created in a class action after court-approved
4 payments are made for the following:
5         (i) class member claims;
6         (ii) attorney's fees and costs; and
7         (iii) any reversions to a defendant agreed upon by the
8     parties.
9     (b) Settlement. An order approving a proposed settlement of
10 a class action that results in the creation of a common fund
11 for the benefit of the class shall, consistent with the other
12 Sections of this Part, establish a process for the
13 administration of the settlement and shall provide for the
14 distribution of any residual funds to one or more eligible
15 organizations, except that up to 50% of the residual funds may
16 be distributed to one or more other nonprofit charitable
17 organizations or other organizations that serve the public good
18 if the court finds there is good cause to approve such a
19 distribution as part of a settlement.
20     (c) Judgment. A judgment in favor of the plaintiff in a
21 class action that results in the creation of a common fund for
22 the benefit of the class shall provide for the distribution of
23 any residual funds to one or more eligible organizations.
24     (d) State and its political subdivisions. This Section does
25 not apply to any class action lawsuit against the State of
26 Illinois or any of its political subdivisions.

 

 

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1     (e) Application. This Section applies to all actions
2 commenced on or after the effective date of this amendatory Act
3 of the 95th General Assembly and to all actions pending on the
4 effective date of this amendatory Act of the 95th General
5 Assembly.
 
6     Section 99. Effective date. This Act takes effect July 1,
7 2008.".