765 ILCS 1026/ Revised Uniform Unclaimed Property Act.

(765 ILCS 1026/Art. 12 heading) ARTICLE 12. ENFORCEMENT BY ADMINISTRATOR (Source: P.A. 100-22, eff. 1-1-18.)

(765 ILCS 1026/15-1201)

Sec. 15-1201. Judicial action to enforce liability.

(a) If a determination under Section 15-1011 becomes final and is not subject to administrative or judicial review, the administrator may commence an action in the Circuit Court of Sangamon County or Cook County, federal court, or in an appropriate court of another state to enforce the determination and secure payment or delivery of past due, unpaid, or undelivered property. The action must be brought not later than 5 years after the determination becomes final.

(b) In an action under subsection (a), if no court in this State has jurisdiction over the defendant, the administrator may commence an action in any court having jurisdiction over the defendant.

(Source: P.A. 100-22, eff. 1-1-18.)

(765 ILCS 1026/15-1202)

Sec. 15-1202. Interstate and international agreement; cooperation.

(a) Subject to subsection (b), the administrator may:

(1) exchange information with another state or foreign country relating to property presumed abandoned or relating to the possible existence of property presumed abandoned; and

(2) authorize in a record another state or foreign country or a person acting on behalf of the other state or country to examine its records of a putative holder as provided in Article 10.

(b) An exchange or examination under subsection (a) may be done only if the state or foreign country has confidentiality and security requirements substantially equivalent to those in Article 14 or agrees in a record to be bound by this State's confidentiality and security requirements.

(Source: P.A. 100-22, eff. 1-1-18.)

(765 ILCS 1026/15-1203)

Sec. 15-1203. Action involving another state or foreign country.

(a) The administrator may join another state or foreign country to examine and seek enforcement of this Act against a putative holder.

(b) On request of another state or foreign country, the Attorney General may commence an action on behalf of the other state or country to enforce, in this State, the law of the other state or country against a putative holder subject to a claim by the other state or country.

(c) The administrator may request the official authorized to enforce the unclaimed property law of another state or foreign country to commence an action to recover property in the other state or country on behalf of the administrator. This state may pay the costs, including reasonable attorney's fees and expenses, incurred by the other state or foreign country in an action under this subsection.

(d) The administrator may pursue an action on behalf of this State to recover property subject to this Act but delivered to the custody of another state if the administrator believes the property is subject to the custody of the administrator.

(e) At the request of the administrator, the Attorney General may commence an action to recover property on behalf of the administrator in this State, another state, or a foreign country. With the written consent of the Attorney General, the administrator may retain an attorney in this State, another state, or a foreign country to recover property on behalf of the administrator in this State, another state, or a foreign country and may agree to pay attorney's fees based in whole or in part on a fixed fee, hourly fee, or a percentage of the amounts or value of property recovered in the action.

(f) Expenses incurred by this State in an action under this Section may be paid from property received under this Act or the net proceeds of the property. Expenses paid to recover property may not be deducted from the amount that is subject to a claim under this Act by the owner.

(Source: P.A. 100-22, eff. 1-1-18.)

(765 ILCS 1026/15-1204)

Sec. 15-1204. Interest and penalty for failure to act in timely manner.

(a) A holder that fails to report, pay, or deliver property within the time prescribed by this Act shall pay to the administrator interest at a rate of 1% per month on the property or value of the property from the date the property should have been reported, paid, or delivered to the administrator until the date reported, paid, or delivered.

(b) Except as otherwise provided in Section 15-1 or 15-1206, the administrator may require a holder that fails to report, pay, or deliver property within the time prescribed by this Act to pay to the administrator, in addition to interest included under subsection (a), a civil penalty of $200 for each day the duty is not performed, up to a cumulative maximum amount of $5,000.

(c) A holder who fails to report, pay, or deliver property within the time prescribed by this Act shall not be required to pay interest under subsection (a) above or be subject to penalties under subsection (b) above if the failure to report, pay, or deliver the property was due to lack of knowledge of the death that established the period of abandonment under this Act.

(Source: P.A. 100-22, eff. 1-1-18.)

(765 ILCS 1026/15-1205)

Sec. 15-1205. Other civil penalties.

(a) If a holder enters into a contract or other arrangement for the purpose of evading an obligation under this Act or otherwise willfully fails to perform a duty imposed on the holder under this Act, the administrator may require the holder to pay the administrator, in addition to interest as provided in subsection (a) of Section 15-1204, a civil penalty of $1,000 for each day the obligation is evaded or the duty is not performed, up to a cumulative maximum amount of $25,000, plus 25% of the amount or value of property that should have been but was not reported, paid, or delivered as a result of the evasion or failure to perform.

(b) If a holder makes a fraudulent report under this Act, the administrator may require the holder to pay to the administrator, in addition to interest under subsection (a) of Section 15-1204, a civil penalty of $1,000 for each day from the date the report was made until corrected, up to a cumulative maximum of $25,000, plus 25% of the amount or value of any property that should have been reported but was not included in the report or was underreported.

(Source: P.A. 100-22, eff. 1-1-18.)

(765 ILCS 1026/15-1206)

Sec. 15-1206. Waiver of interest and penalty. The administrator:

(1) may waive, in whole or in part, interest under subsection (a) of Section 15-1204 and penalties under subsection (b) of Section 15-1204 or Section 15-1; and

(2) shall waive a penalty under subsection (b) of Section 15-1204 if the administrator determines that the holder acted in good faith and without negligence.

(Source: P.A. 100-22, eff. 1-1-18.)