Sen. John J. Cullerton
Filed: 3/7/2007
 
 

 




 

 		












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AMENDMENT TO SENATE BILL 486




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    AMENDMENT NO. ______. Amend Senate Bill 486, AS AMENDED, by 
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replacing everything after the enacting clause with the 
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following:

 
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    "Section 5. The Code of Civil Procedure is amended  by 
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adding Section 2-807 as follows:
 
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    (735 ILCS 5/2-807  new)
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    Sec. 2-807. Residual funds in a common fund created in a 
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class action.
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    (a) Definitions.  As used in this Section:

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    "Eligible organization" means a not-for-profit 
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organization that has been in existence for no less than 3 
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years, has been tax exempt for no less than 3 years from the 
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payment of federal taxes under Section 501(c)(3) of the 
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Internal Revenue Code, and has a principal purpose of promoting 
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or providing services that would be eligible for funding under 
 


 






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


 






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Illinois or any of its political subdivisions.
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    (e) Application. This Section applies to all actions 
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commenced on or after the effective date of this amendatory Act 
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of the 95th General Assembly and to all actions pending on the 
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effective date of this amendatory Act of the 95th General 
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Assembly.
 
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    Section 99. Effective date. This Act takes effect July 1, 
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2008.".