Chapter 765 — PROPERTY

(765 ILCS 1020/34) (from Ch. 50, par. 34) Sec. 34. If any person taking up any estray or other property, or finding any property, fails to comply with the provisions of this Act, such person shall, for every such offense, pay to the informer the sum of $10, with costs, recoverabl…

(765 ILCS 1020/35) (from Ch. 50, par. 35) Sec. 35. Except as otherwise provided in this Act, whoever sells, trades, destroys, or in any way disposes of any estray or other property taken up or any property found, or takes or sends the same out of this state, for any purpose whate…

(765 ILCS 1020/36) (from Ch. 50, par. 36) Sec. 36. Appeals may be taken as in other civil cases. (Source: P.A. 81-273.)

(765 ILCS 1020/4) (from Ch. 50, par. 4) Sec. 4. Where several estrays are taken up by the same person, they shall be included in the same notices and proceedings. (Source: R.S. 1874, p. 482.)

(765 ILCS 1026/15-1001) Sec. 15-1001. Verified report of property. If a person does not file a report required by Section 15-401 or the administrator believes that a person may have filed an inaccurate, incomplete, or false report, the administrator may require the person to file…

(765 ILCS 1026/15-1002) Sec. 15-1002. Examination of records to determine compliance. The administrator, at reasonable times and on reasonable notice, may: (1) examine the records of any person to determine whether the person has complied with this Act even if the person believes…

(765 ILCS 1026/15-1002.1) Sec. 15-1002.1. Examination of State-regulated financial organizations. (a) Notwithstanding Section 15-1002 of this Act, for any financial organization for which the Department of Financial and Professional Regulation is the primary prudential regulator,…

(765 ILCS 1026/15-1002.2) Sec. 15-1002.2. Additional authority for the Secretary of Financial and Professional Regulation. (a) Notwithstanding any law to the contrary, the Secretary of Financial and Professional Regulation may order any regulated person to immediately report and …

(765 ILCS 1026/15-1003) Sec. 15-1003. Rules for conducting examination. (a) The administrator shall adopt rules governing procedures and standards for an examination under Section 15-1002; the rules may reference any standards concerning unclaimed property examinations promulgate…

(765 ILCS 1026/15-1004) Sec. 15-1004. Records obtained in examination. Records obtained and records, including work papers, compiled by the administrator or administrator's agent in the course of conducting an examination under Section 15-1002 or Section 15-1002.1: (1) are subjec…

(765 ILCS 1026/15-1005) Sec. 15-1005. Evidence of unpaid debt or undischarged obligation. (a) A record of a putative holder showing an unpaid debt or undischarged obligation is prima facie evidence of the debt or obligation. (b) A putative holder may establish by a preponderance …

(765 ILCS 1026/15-1006) Sec. 15-1006. Failure of person examined to retain records. If a person subject to examination under Section 15-1002 does not retain the records required by Section 15-404, the administrator may determine the value of property due using a reasonable method…

(765 ILCS 1026/15-1007) Sec. 15-1007. Report to person whose records were examined. At the conclusion of an examination under Section 15-1002, unless waived in writing by the person being examined, the administrator shall provide to the person whose records were examined a report…

(765 ILCS 1026/15-1008) Sec. 15-1008. Informal conference during examination. (a) If a person subject to examination under Section 15-1002 believes the person conducting the examination has made an unreasonable or unauthorized request or is not proceeding expeditiously to complet…

(765 ILCS 1026/15-1009) Sec. 15-1009. Administrator's contract with another to conduct examination. (a) The administrator may contract with a person to conduct an examination under this Article. The contract shall be awarded pursuant to a request for proposals issued in complianc…

(765 ILCS 1026/15-101) Sec. 15-101. Short title. This Act may be cited as the Revised Uniform Unclaimed Property Act. References in this Title 15 (the Revised Uniform Unclaimed Property Act) to "this Act" mean this Title 15 (the Revised Uniform Unclaimed Property Act). (Source: P…

(765 ILCS 1026/15-1010) Sec. 15-1010. Report by administrator. As part of the report required by Section 15 of the State Treasurer Act, the administrator shall compile and include the following information about property presumed abandoned for the preceding fiscal year for the St…

(765 ILCS 1026/15-1011) Sec. 15-1011. Determination of liability for unreported reportable property. If the administrator determines from an examination conducted under Section 15-1002 that a putative holder failed or refused to pay or deliver to the administrator property which …

(765 ILCS 1026/15-102) Sec. 15-102. Definitions. In this Act: (1) "Administrator" means the State Treasurer. (2) "Administrator's agent" means a person with which the administrator contracts to conduct an examination under Article 10 on behalf of the administrator. The term inclu…

(765 ILCS 1026/15-103) Sec. 15-103. Inapplicability to foreign transaction. This Act does not apply to property held, due, and owing in a foreign country if the transaction out of which the property arose was a foreign transaction. (Source: P.A. 100-22, eff. 1-1-18.)

(765 ILCS 1026/15-104) Sec. 15-104. Rulemaking. The administrator may adopt rules to implement and administer this Act pursuant to the Illinois Administrative Procedure Act. (Source: P.A. 100-22, eff. 1-1-18.)

(765 ILCS 1026/15-1101) Sec. 15-1101. Informal conference. (a) Not later than 30 days after receipt of a notice under Section 15-1011, the putative holder may request an informal conference with the administrator to review the determination. Except as otherwise provided in this S…

(765 ILCS 1026/15-1102) Sec. 15-1102. Administrative review. (a) Not later than 90 days after receiving notice of the administrator's determination under Section 15-1011, or, if applicable and as provided in Section 15-1101(b)(4), after notice of a decision under 15-1101(b)(7) ha…

(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…

(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 exis…

(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 …

(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 …

(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 …

(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…

(765 ILCS 1026/15-1301) Sec. 15-1301. When agreement to locate property enforceable. (a) An agreement by an owner or an apparent owner and a finder, the primary purpose of which is to locate, recover, or assist in the location or recovery of property held by the administrator for…

(765 ILCS 1026/15-1302) Sec. 15-1302. When agreement to locate property void. (a) Time period. Subject to subsection (b), an agreement under Section 15-1301 is void if it is entered into during the period beginning on the date the property was presumed abandoned under this Act an…

(765 ILCS 1026/15-1303) Sec. 15-1303. License to act as finder. (a) License required. No person shall, without a valid license issued by the administrator, (i) represent or present to the public in any manner to be a finder in the State of Illinois or (ii) act as a finder. (b) Qu…

(765 ILCS 1026/15-1401) Sec. 15-1401. Confidential information. (a) Except as otherwise provided in this Section, information that is confidential under law of this State other than this Act, another state, or the United States, including "private information" as defined in the F…

(765 ILCS 1026/15-1402) Sec. 15-1402. Confidentiality agreement. A person to be examined under Section 15-1002 or Section 15-1002.1 may require, as a condition of disclosure of the records of the person to be examined, that the administrator or the administrator's agent execute a…

(765 ILCS 1026/15-1403) Sec. 15-1403. No confidential information in notice. Except as otherwise provided in Sections 15-501 and 15-502, a holder is not required under this Act to include confidential information in a notice the holder is required to provide to an apparent owner …

(765 ILCS 1026/15-1404) Sec. 15-1404. Security of information. (a) If a holder is required to include confidential information in a report to the administrator, the information must be provided by a secure means. (b) If confidential information in a record is provided to and main…

(765 ILCS 1026/15-1501) Sec. 15-1501. Uniformity of application and construction. In applying and construing this uniform Act consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. (Source: P.A. 100-…

(765 ILCS 1026/15-1502) Sec. 15-1502. Relation to Electronic Signatures in Global and National Commerce Act. This Act modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., but does not modify, limit, or supe…

(765 ILCS 1026/15-1503) Sec. 15-1503. Transitional provision. (a) An initial report filed under this Act for property that was not required to be reported before the effective date of this Act, but that is required to be reported under this Act, must include all items of property…

(765 ILCS 1026/15-1504) Sec. 15-1504. Severability. If any provision of this Act or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this Act which can be given effect without the invalid provision o…

(765 ILCS 1026/15-1505) Sec. 15-1505. Application. (a) Except as provided in this Section and Section 15-1506, this Act does not apply to any annuity, pension, or benefit fund held in a fiduciary capacity by or on behalf of a retirement system, pension fund, or investment board c…

(765 ILCS 1026/15-1506) Sec. 15-1506. Compliance provisions. (a) This Section applies only to a retirement system, pension fund, or investment board created pursuant to Article 3, 4, or 22 of the Illinois Pension Code. (b) Each retirement system, pension fund, or investment board…

(765 ILCS 1026/15-201) Sec. 15-201. When property presumed abandoned. Subject to Section 15-210, the following property is presumed abandoned if it is unclaimed by the apparent owner during the period specified below: (1) a traveler's check, 15 years after issuance; (2) a money o…

(765 ILCS 1026/15-202) Sec. 15-202. When tax-deferred and tax-exempt retirement accounts presumed abandoned. (a) Subject to Section 15-210, property held in a pension account or retirement account that qualifies for tax deferral or tax exemption under the income-tax laws of the U…

(765 ILCS 1026/15-203) Sec. 15-203. When other tax-deferred account presumed abandoned. (a) Subject to Section 15-210 and except for property described in Section 15-202, property held in an account or plan, including a health savings account, that qualifies for tax deferral unde…

(765 ILCS 1026/15-204) Sec. 15-204. When custodial account for minor presumed abandoned. (a) Subject to Section 15-210, property held in an account established under a state's Uniform Gifts to Minors Act or Uniform Transfers to Minors Act is presumed abandoned if it is unclaimed …

(765 ILCS 1026/15-205) Sec. 15-205. When contents of safe-deposit box presumed abandoned. Tangible property held in a safe-deposit box are presumed abandoned if the property remains unclaimed by the apparent owner 5 years after the expiration of the lease or rental period for the…

(765 ILCS 1026/15-206) Sec. 15-206. When stored-value card presumed abandoned. (a) Subject to Section 15-210, the net card value of a stored-value card is presumed abandoned on the latest of 5 years after: (1) December 31 of the year in which the card is issued or additional fund…

(765 ILCS 1026/15-208) Sec. 15-208. When security presumed abandoned. (a) Subject to Section 15-210, a security is presumed abandoned upon the earlier of the following: (1) 3 years after the date a communication sent by the holder by first-class United States mail to the apparent…

(765 ILCS 1026/15-209) Sec. 15-209. When related property presumed abandoned. At and after the time property is presumed abandoned under this Act, any other property right or interest accrued or accruing from the property and not previously presumed abandoned is also presumed aba…