Illinois Compiled Statutes - Full Text

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Illinois Compiled Statutes - Full Text

Information maintained by the Legislative Reference Bureau

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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 1026/15-806

    (765 ILCS 1026/15-806)
    (Text of Section before amendment by P.A. 104-116)
    Sec. 15-806. Escheat of certain abandoned State agency moneys. Property presumed abandoned where the administrator reasonably believes the owner is a State agency as defined in the Illinois State Auditing Act, shall escheat to the State and shall be deposited into the General Revenue Fund if all of the following apply:
        (1) the administrator has provided written notice to
    
the State agency pursuant to subsection (c) of Section 15-504 at least 3 times in at least 3 different calendar years;
        (2) it has been more than 3 years since the
    
administrator first provided written notice to the State agency pursuant to subsection (c) of Section 15-504; and
        (3) the State agency has not initiated a claim or
    
otherwise expressed an indication of interest in the property.
(Source: P.A. 103-148, eff. 6-30-23.)
 
    (Text of Section after amendment by P.A. 104-116)
    Sec. 15-806. Escheat of certain abandoned State agency moneys. Property presumed abandoned where the administrator reasonably believes the owner is a State agency as defined in the Illinois State Auditing Act, shall escheat to the State and shall be deposited into the General Revenue Fund if all of the following apply:
        (1) the administrator has provided written notice to
    
the State agency and the Governor's Office of Management and Budget pursuant to subsection (c) of Section 15-504;
        (2) it has been more than 1 year since the
    
administrator first provided written notice to the State agency pursuant to subsection (c) of Section 15-504;
        (3) the State agency has not initiated a claim or
    
otherwise expressed an indication of interest in the property; and
        (4) the administrator provides written notice of the
    
escheat to the Director of the Governor's Office of Management and Budget.
(Source: P.A. 103-148, eff. 6-30-23; 104-116, eff. 1-1-26.)