Illinois General Assembly - Full Text of Public Act 099-0577
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Public Act 099-0577


 

Public Act 0577 99TH GENERAL ASSEMBLY

  
  
  

 


 
Public Act 099-0577
 
SB2783 EnrolledLRB099 16222 AXK 40551 b

    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 Sections 8 and 8.1 as follows:
 
    (765 ILCS 1025/8)  (from Ch. 141, par. 108)
    Sec. 8. All funds 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 5 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.)
 
    (765 ILCS 1025/8.1)  (from Ch. 141, par. 108.1)
    Sec. 8.1. Property held by governments.
    (a) All tangible personal property or intangible personal
property and all debts owed or entrusted funds or other
property held by any federal, state or local government or
governmental subdivision, agency, entity, officer or appointee
thereof, shall be presumed abandoned if the property has
remained unclaimed for 5 7 years.
    (b) This Section applies to all abandoned property held by
any federal, state or local government or governmental
subdivision, agency, entity, officer or appointee thereof, on
the effective date of this amendatory Act of 1991 or at any
time thereafter, regardless of when the property became or
becomes presumptively abandoned.
(Source: P.A. 90-167, eff. 7-23-97; 91-357, eff. 7-29-99.)

Effective Date: 1/1/2017