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 Bill Status of HB2603  100th General Assembly


Short Description:  UNIFORM UNCLAIMED PROPERTY ACT

House Sponsors
Rep. Michael J. Zalewski

Last Action
DateChamber Action
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
New Act
765 ILCS 1025/Act rep.
5 ILCS 100/1-5from Ch. 127, par. 1001-5
5 ILCS 140/7.5
15 ILCS 405/9from Ch. 15, par. 209
15 ILCS 505/0.02
15 ILCS 505/0.03
15 ILCS 505/0.04
15 ILCS 505/0.05
15 ILCS 505/0.06
20 ILCS 1205/7from Ch. 17, par. 108
20 ILCS 1205/18.1
30 ILCS 105/6b-1from Ch. 127, par. 142b1
30 ILCS 105/8.12from Ch. 127, par. 144.12
30 ILCS 230/2from Ch. 127, par. 171
55 ILCS 5/3-3034from Ch. 34, par. 3-3034
205 ILCS 5/48
205 ILCS 5/48.1from Ch. 17, par. 360
205 ILCS 5/48.3from Ch. 17, par. 360.2
205 ILCS 5/65from Ch. 17, par. 377
205 ILCS 205/4013from Ch. 17, par. 7304-13
205 ILCS 205/9012from Ch. 17, par. 7309-12
205 ILCS 205/10090
205 ILCS 305/10from Ch. 17, par. 4411
205 ILCS 305/62from Ch. 17, par. 4463
205 ILCS 405/15.1bfrom Ch. 17, par. 4827
205 ILCS 405/19.3from Ch. 17, par. 4838
205 ILCS 620/6-14from Ch. 17, par. 1556-14
205 ILCS 657/30
205 ILCS 700/10
215 ILCS 5/210from Ch. 73, par. 822
215 ILCS 185/5
215 ILCS 185/15
215 ILCS 185/20
225 ILCS 454/20-20
725 ILCS 5/110-17from Ch. 38, par. 110-17
755 ILCS 5/2-1from Ch. 110 1/2, par. 2-1
755 ILCS 5/2-2from Ch. 110 1/2, par. 2-2
770 ILCS 90/3from Ch. 141, par. 3
805 ILCS 5/12.70from Ch. 32, par. 12.70
805 ILCS 105/112.70from Ch. 32, par. 112.70


Synopsis As Introduced
Creates the Revised Uniform Unclaimed Property Act. Adds language concerning: definitions; applicability; rulemaking; presumptively abandoned property; taking custody of property that is presumed abandoned; reporting requirements; notice to property owner; taking custody of property by the State Treasurer; sale of property; administration of property; claims to recover; liability; remedies; enforcement; agreements to locate property; confidentiality; uniformity of application and construction; relation to federal laws; transitional provisions; and severability. Repeals the Uniform Disposition of Unclaimed Property Act and makes corresponding changes in the following Acts: the Illinois Administrative Procedure Act; the Freedom of Information Act; the State Comptroller Act; the State Treasurer Act; the Financial Institutions Code; the State Finance Act; the State Officers and Employees Money Disposition Act; the Counties Code; the Illinois Banking Act; the Savings Bank Act; the Illinois Credit Union Act; the Currency Exchange Act; the Corporate Fiduciary Act; the Transmitters of Money Act; the Adverse Claims to Deposit Accounts Act; the Illinois Insurance Code; the Unclaimed Life Insurance Benefits Act; the Real Estate License Act of 2000; the Code of Criminal Procedure of 1963; the Probate Act of 1975; the Sale of Unclaimed Property Act; the Business Corporation Act of 1983; and the General Not For Profit Corporation Act of 1986. Effective January 1, 2018.

Actions 
DateChamber Action
  2/8/2017HouseFiled with the Clerk by Rep. Michael J. Zalewski
  2/8/2017HouseFirst Reading
  2/8/2017HouseReferred to Rules Committee
  2/22/2017HouseAssigned to Executive Committee
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

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