HB3405 94TH GENERAL ASSEMBLY

LRB094 03583 LCB 33587 b

94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB3405

Introduced 2/22/2005, by Rep. Tom Cross

SYNOPSIS AS INTRODUCED:

765 ILCS 1025/8

from Ch. 141, par. 108

Amends the Uniform Disposition of Unclaimed Property Act. Makes a technical change in a Section concerning property held for the owner by a court or other public officer or entity.

A BILL FOR

AN ACT concerning civil law.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Uniform Disposition of Unclaimed Property Act is amended by changing Section 8 as follows:

(765 ILCS 1025/8) (from Ch. 141, par. 108)

Sec. 8. All funds and and intangible personal property held for the owner by any court, public authority, or public officer of this State, or a political subdivision thereof, that has remained unclaimed by the owner for more than 7 years is presumed abandoned. This Section does not apply to deposits made to municipalities as a condition for the issuance of a building permit.

(Source: P.A. 90-167, eff. 7-23-97.)