(765 ILCS 1026/Art. 3 heading)
ARTICLE 3. RULES FOR TAKING CUSTODY OF PROPERTY PRESUMED ABANDONED
(Source: P.A. 100-22, eff. 1-1-18.) |
(765 ILCS 1026/15-301)
Sec. 15-301. Address of apparent owner to establish priority. In this Article, the following rules apply: (1) The last-known address of an apparent owner is | ||
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(2) If the United States postal zip code associated | ||
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(3) If the address under paragraph (2) is in another | ||
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(4) The address of the apparent owner of a life or | ||
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(Source: P.A. 100-22, eff. 1-1-18 .) |
(765 ILCS 1026/15-302)
Sec. 15-302. Address of apparent owner in this State. The administrator may take custody of property that is presumed abandoned, whether located in this State, another state, or a foreign country if: (1) the last-known address of the apparent owner in | ||
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(2) the records of the holder do not reflect the | ||
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(Source: P.A. 100-22, eff. 1-1-18 .) |
(765 ILCS 1026/15-303)
Sec. 15-303. If records show multiple addresses of apparent owner. (a) Except as in subsection (b), if records of a holder reflect multiple addresses for an apparent owner and this State is the state of the most recently recorded address, this State may take custody of property presumed abandoned, whether located in this State or another state. (b) If it appears from records of the holder that the most recently recorded address of the apparent owner under subsection (a) is a temporary address and this State is the state of the next most recently recorded address that is not a temporary address, this State may take custody of the property presumed abandoned.
(Source: P.A. 100-22, eff. 1-1-18 .) |
(765 ILCS 1026/15-304)
Sec. 15-304. Holder domiciled in this State. (a) Except as in subsection (b) or Section 15-302 or 15-303, the administrator may take custody of property presumed abandoned, whether located in this State, another state, or a foreign country, if the holder is domiciled in this State or is this State or a governmental subdivision, agency, or instrumentality of this State, and (1) another state or foreign country is not entitled | ||
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(2) the state or foreign country of the last-known | ||
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(b) Property is not subject to custody of the administrator under subsection (a) if the property is specifically exempt from custodial taking under the law of this State or the state or foreign country of the last-known address of the apparent owner. (c) If a holder's state of domicile has changed since the time property was presumed abandoned, the holder's state of domicile under this Section is deemed to be the state where the holder was domiciled at the time the property was presumed abandoned.
(Source: P.A. 100-22, eff. 1-1-18 .) |
(765 ILCS 1026/15-305)
Sec. 15-305. Custody if transaction took place in this State. Except as in Section 15-302, 15-303, or 15-304, the administrator may take custody of property presumed abandoned whether located in this State or another state if: (1) the transaction out of which the property arose | ||
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(2) the holder is domiciled in a state that does not | ||
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(3) the last-known address of the apparent owner or | ||
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(Source: P.A. 100-22, eff. 1-1-18 .) |
(765 ILCS 1026/15-306)
Sec. 15-306. Traveler's check, money order, or similar instrument. The administrator may take custody of sums payable on a traveler's check, money order, or similar instrument presumed abandoned to the extent permissible under 12 U.S.C. Sections 2501 through 2503, as amended.
(Source: P.A. 100-22, eff. 1-1-18 .) |
(765 ILCS 1026/15-307)
Sec. 15-307. Burden of proof to establish administrator's right to custody. Subject to Article 4 and Section 15-1005, if the administrator asserts a right to custody of unclaimed property and there is a dispute concerning such property, the administrator has the initial burden to prove: (1) the amount of the property; (2) the property is presumed abandoned; and (3) the property is subject to the custody of the | ||
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(Source: P.A. 100-22, eff. 1-1-18 .) |