DISPOSITON OF PROP-NON PROFIT Senate SponsorsSen. Dave Sullivan 1/11/2005SenateSession Sine Die 765 ILCS 1025/3a new765 ILCS 1025/10.6765 ILCS 1025/11from Ch. 141, par. 111Amends the Uniform Disposition of Unclaimed Property Act. Provides that unclaimed property payable or distributable in the course of a demutualization of an insurance company is presumed abandoned 5 years after the earlier of the date of last contact with the policyholder or the date the property became payable or distributable. Provides for an exemption from the Act for gift certificates and gift cards that contain an expiration date or expiration period issued by a nonprofit organization as defined under Section 501(c)(3) of the Internal Revenue Code. Provides that a holder or any party with information about the owner is prohibited from charging a fee or service charge to an owner in order to prevent abandonment from being presumed. Effective immediately. 2/19/2003SenateFiled with Secretary by Sen. Dave Sullivan 2/19/2003SenateFirst Reading 2/19/2003SenateReferred to Rules 2/26/2003SenateAssigned to Executive 3/14/2003SenateRule 3-9(a) / Re-referred to Rules 1/11/2005SenateSession Sine Die