SB2783 EngrossedLRB099 16222 AXK 40551 b


  
1    AN ACT concerning civil law.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  
 
 
4    Section 5. The Uniform Disposition of Unclaimed Property 
5Act is amended  by changing Sections 8 and 8.1 as follows:
 



6    (765 ILCS 1025/8)  (from Ch. 141, par. 108)



7    Sec. 8. 
All funds and intangible personal property held for 
8the owner by
any court, public authority, or public officer of 
9this
State, or a political subdivision thereof, that has 
10remained unclaimed by
the owner for more than 5 7 years is 
11presumed abandoned.
This Section does not apply to deposits 
12made to municipalities as a
condition for the issuance of a 
13building permit.

14(Source: P.A. 90-167, eff. 7-23-97.)

 



15    (765 ILCS 1025/8.1)  (from Ch. 141, par. 108.1)



16    Sec. 8.1. Property held by governments. 

17    (a) All tangible personal property or intangible personal 
18property and all
debts owed or entrusted funds or other 
19property held by any federal, state or
local government or 
20governmental subdivision, agency, entity, officer or
appointee 
21thereof, shall be presumed abandoned if the property has 
22remained
unclaimed for 5 7 years.

 
 
SB2783 Engrossed- 2 -LRB099 16222 AXK 40551 b

1    (b) This Section applies to all abandoned property held by 
2any federal,
state or local government or governmental 
3subdivision, agency, entity, officer
or appointee thereof, on 
4the effective date of this amendatory Act of 1991 or
at any 
5time thereafter, regardless of when the property became or 
6becomes
presumptively abandoned.

7(Source: P.A. 90-167, eff. 7-23-97; 91-357, eff. 7-29-99.)