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(765 ILCS 1026/15-904)
When administrator must honor claim for property.
(a) The administrator shall pay or deliver property to a claimant under subsection (a) of Section 15-903 if the administrator receives evidence sufficient to establish to the satisfaction of the administrator that the claimant is the owner of the property.
(b) A claim will be considered complete when a claimant has provided all the information and documentation requested by the administrator as necessary to establish legal ownership and such information or documentation is entered into the administrator's unclaimed property system. Unless extended for reasonable cause, not later than 90 days after a claim is complete the administrator shall allow or deny the claim and give the claimant notice in a record of the decision. If a claimant fails to provide all the information and documentation requested by the administrator as necessary to establish legal ownership of the property and the claim is inactive for at least 90 days, then the administrator may close the claim without issuing a final decision. However, if the claimant makes a request in writing for a final decision prior to the administrator's closing of the claim, the administrator shall issue a final decision.
(c) If the claim is denied or there is insufficient evidence to allow the claim under subsection (b):
(1) the administrator shall inform the claimant of
the reason for the denial and may specify what additional evidence, if any, is required for the claim to be allowed;
(2) the claimant may file an amended claim with the
administrator or commence an action under Section 15-906; and
(3) the administrator shall consider an amended claim
filed under paragraph (2) as an initial claim.
(Source: P.A. 100-22, eff. 1-1-18