Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process.
Recent laws may not yet be included in the ILCS database, but they are found on this site as
Public
Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the
Guide.
Because the statute database is maintained primarily for legislative drafting purposes,
statutory changes are sometimes included in the statute database before they take effect.
If the source note at the end of a Section of the statutes includes a Public Act that has
not yet taken effect, the version of the law that is currently in effect may have already
been removed from the database and you should refer to that Public Act to see the changes
made to the current law.
(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 funds are deposited into it;
|
|
(2) the most recent indication of interest in the
|
| card by the apparent owner; or
|
|
(3) a verification or review of the balance by or on
|
| behalf of the apparent owner.
|
|
(b) The amount presumed abandoned in a stored-value card is the net card value at the time it is presumed abandoned.
(c) However, if a holder has reported and remitted to the administrator the net card value on a stored-value card presumed abandoned under this Section and the stored-value card does not have an expiration date, then the holder must honor the card on presentation indefinitely and may then request reimbursement from the administrator under Section 605.
(Source: P.A. 100-22, eff. 1-1-18; 100-566, eff. 1-1-18.)
|