Escheat of certain abandoned State agency moneys

765 ILCS 1026/15-806, under Administration of Property.

765 ILCS 1026/15-806

(765 ILCS 1026/15-806)     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.)