Section 760.100  Claims

a)         Filing of Claims.

1)         Claims shall be prepared and filed only on forms provided by the State Treasurer, which shall provide, upon request, the following:

A)        Owner Claim Form;

B)        Owner, Indemnification Form;

C)        Holder Claim Form;

D)        Corporate Claim Form;

E)         Heir/Other Claim Form; or

F)         Small Estate Affidavit.

2)         The claimant shall assert on the appropriate form that he or she is the true owner of the unclaimed property and agrees to indemnify and hold harmless the Treasurer, its officers and employees, and the State of Illinois in the event of a successful claim to such property by another claimant.

3)         If the subject property is valued at more than $500.00 but less than $5,000.00, the signature(s) of the claimant(s) shall be notarized by a notary public or be guaranteed by an officer of a bank or financial institution with which the claimant(s) currently does business.

4)         If the subject property is valued at $5,000.00 or more, the signature(s) of the claimant(s) shall be guaranteed by an officer of a bank or other financial institution with which the claimant(s) currently does business.

5)         If the claimant(s) is the owner and the value of the property does not exceed $500.00, a fully completed owner claim form and owner indemnification form, submitted to the Treasurer, will be accepted as "proof of claim", unless the Treasurer has facts within its knowledge which would rebut the claim.

6)         If the subject property is a two-party check the claimant must, in addition to submitting a fully completed claim form:

A)        submit the original check or

B)        submit verification in the form of an affidavit from the issuing agent of the check that the claimant(s) is the true owner of the check and the issuing agent would pay the value of the check to the claimant(s) if the issuing agent had not remitted the funds to the Director or

C)        post a surety bond, issued by an insurance company with an A+ or A rating by A.M. Best and Company, in the amount of the check.

b)         Assignment of Interest.

            The Treasurer shall consider the claim of a designee or attorney-in-fact of any claimant provided that:

1)         a properly executed and notarized release of interest or power of attorney is submitted with the claim form; and

2)         the person filing the claim has submitted an affidavit stating that the claimant is the true owner of the property; and

3)         claim proceeds shall only be delivered to the rightful owner; and

4)         compensation shall not exceed 10% of the claim amount collected; except as provided by Section 20(c) of the Act.

(Source:  Amended at 17 Ill. Reg. 123, effective December 21, 1992)