Illinois General Assembly - Bill Status for HB2914
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 Bill Status of HB2914  93rd General Assembly

Short Description:  DISPOSITON OF PROP-NON PROFIT

House Sponsors
Rep. Frank J. Mautino - Sidney H. Mathias

Last Action
DateChamber Action
  1/11/2005HouseSession Sine Die

Statutes Amended In Order of Appearance
765 ILCS 1025/3a new
765 ILCS 1025/10.6
765 ILCS 1025/11from Ch. 141, par. 111


Synopsis As Introduced
Amends 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.

Actions 
DateChamber Action
  2/21/2003HouseFiled with the Clerk by Rep. Frank J. Mautino
  2/21/2003HouseFirst Reading
  2/21/2003HouseReferred to Rules Committee
  2/26/2003HouseAssigned to Executive Committee
  3/6/2003HouseAdded Chief Co-Sponsor Rep. Sidney H. Mathias
  3/13/2003HouseRule 19(a) / Re-referred to Rules Committee
  1/11/2005HouseSession Sine Die

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