Transfer of property

755 ILCS 32/25, under Charitable Organization Beneficiary Act.

755 ILCS 32/25

(755 ILCS 32/25)     (This Section may contain text from a Public Act with a delayed effective date)

    Sec. 25. Transfer of property. If the requirements of this Act are satisfied by a charitable organization, and there are no conflicting claims to the same shares or portion of a property, the holder of the property must do either or both of the following within 60 business days:         (1) pay, deliver, or transfer the property to or for     the benefit of the charitable organization if the affidavit has requested the transfer, payment, or delivery of the property to the charitable organization, complying with the charitable organization's preference as to whether the property is paid, delivered, or transferred, to the extent that complying with such preference is reasonably practicable for the holder; or         (2) deliver the information requested in the     affidavit to the charitable organization. (Source: P.A. 104-481, eff. 1-1-27.)