(805 ILCS 5/12.70) (from Ch. 32, par. 12.70)
Sec. 12.70. Deposit of amount due certain shareholders. Upon the distribution of the assets of a corporation among its
shareholders, the distributive portion to which a shareholder would be
entitled who is unknown or cannot be found, or who is under disability and
there is no person legally competent to receive such distributive portion,
shall be presumed abandoned and reported and delivered to the State
Treasurer and become subject to the provision of the Revised Uniform
Unclaimed Property Act. In the event such distribution is
made other than in cash, such distributive portion of the assets shall be
reduced to cash before being so reported and delivered.
(Source: P.A. 100-22, eff. 1-1-18.)
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