Full Text of HB4422 97th General Assembly
HB4422 97TH GENERAL ASSEMBLY |
| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012 HB4422 Introduced 1/30/2012, by Rep. Michael J. Madigan SYNOPSIS AS INTRODUCED: | | 770 ILCS 90/1 | from Ch. 141, par. 1 |
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Amends the Sale of Unclaimed Property Act. Makes a technical change in
a Section concerning the sale of certain unclaimed property.
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| | A BILL FOR |
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| | | HB4422 | | LRB097 15414 AJO 60514 b |
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| 1 | | AN ACT concerning civil law.
| 2 | | Be it enacted by the People of the State of Illinois, | 3 | | represented in the General Assembly:
| 4 | | Section 5. The Sale of Unclaimed Property Act is amended by | 5 | | changing Section 1 as follows:
| 6 | | (770 ILCS 90/1) (from Ch. 141, par. 1)
| 7 | | Sec. 1.
Except as provided in the
the Uniform Commercial | 8 | | Code in sections 7-209,
7-210, 7-307 and 7-308 regarding the | 9 | | lien and foreclosure
provisions for warehousemen and carriers | 10 | | and except as provided in the
Self-Service Storage Facility | 11 | | Act, enacted by the Eighty-Third General Assembly,
whenever any | 12 | | trunk, carpet-bag,
valise, bundle, package, or article of | 13 | | property, transported, or coming
into the possession of any | 14 | | railroad or express company, or any other common
carrier, or | 15 | | innkeeper or warehouseman, or private warehouse-keeper, in the
| 16 | | course of its or his business as common carrier, innkeeper, | 17 | | warehouseman or
private warehouse-keeper remains unclaimed and | 18 | | the legal charges thereon
unpaid during the space of 6 months | 19 | | after its arrival at the point to which
it shall have been | 20 | | directed, and the owner or person to whom the same is
consigned | 21 | | cannot be found upon diligent inquiry, or, being found and
| 22 | | notified of the arrival of such article, refuses or neglects to | 23 | | receive the
same and pay the legal charges thereon for the |
| | | HB4422 | - 2 - | LRB097 15414 AJO 60514 b |
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| 1 | | space of 3 months, it shall
be lawful for such common carrier, | 2 | | innkeeper, warehouseman or private
warehouse-keeper to sell | 3 | | such article at public auction, after giving the
owner or | 4 | | consignee 15 days' notice of the time and place of sale, | 5 | | through
the post office, and by advertising in a newspaper | 6 | | published in the county
where such sale is made, and out of the | 7 | | proceeds of such sale to pay all
legal charges on such | 8 | | articles, and the overplus, if any, shall be paid to
the owner | 9 | | or the consignee upon demand. | 10 | | (Source: P.A. 83-800.)
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