Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process.
Recent laws may not yet be included in the ILCS database, but they are found on this site as Public
soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the
Because the statute database is maintained primarily for legislative drafting purposes,
statutory changes are sometimes included in the statute database before they take effect.
If the source note at the end of a Section of the statutes includes a Public Act that has
not yet taken effect, the version of the law that is currently in effect may have already
been removed from the database and you should refer to that Public Act to see the changes
made to the current law.
(765 ILCS 1026/15-1009)
Administrator's contract with another to conduct examination.
(a) The administrator may contract with a person to conduct an examination under this Article. The contract shall be awarded pursuant to a request for proposals issued in compliance with the procurement rules of the administrator.
(b) If the administrator contracts with a person under subsection (a):
(1) the contract may provide for compensation of the
person based on a fixed fee, hourly fee, or contingent fee;
(2) a contingent fee arrangement may not provide for
a payment that exceeds 15% of the amount or value of property paid or delivered as a result of the examination; and
(3) as authorized in the State Officers and Employees
Money Disposition Act, the administrator may permit the deduction of fees from property recovered during an examination under this Article prior to depositing funds received under this Act into the Unclaimed Property Trust Fund.
(c) A contract under subsection (a) is a public record under the Freedom of Information Act.
(Source: P.A. 100-22, eff. 1-1-18