(805 ILCS 105/112.70) (from Ch. 32, par. 112.70)
Sec. 112.70. Deposit of amount due. Upon the
distribution of the assets of a corporation, the
distributive portion to which a person 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 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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