Sec. 15-404

765 ILCS 1026/15-404 — under Revised Uniform Unclaimed Property Act.

765 ILCS 1026/15-404

(765 ILCS 1026/15-404)

Sec. 15-404. Retention of records by holder. A holder required to file a report under Section 15-401 shall retain records for 10 years after the later of the date the report was filed or the last date a timely report was due to be filed, unless a shorter period is provided by rule of the administrator. The holder may satisfy the requirement to retain records under this Section through an agent. The records must contain: (1) the information required to be included in the report; (2) the date, place, and nature of the circumstances that gave rise to the property right; (3) the amount or value of the property; (4) the last address of the apparent owner, if known to the holder; (5) sufficient records of items which were not reported as unclaimed, to allow examination to determine whether the holder has complied with the Act; and (6) if the holder sells, issues, or provides to others for sale or issue in this State traveler's checks, money orders, or similar instruments, other than third-party bank checks, on which the holder is directly liable, a record of the instruments while they remain outstanding indicating the state and date of issue. (Source: P.A. 100-22, eff. 1-1-18.)