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| Public Act 095-0829 |
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AN ACT concerning civil law.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Uniform Disposition of Unclaimed Property | ||||
Act is amended by changing Section 17 as follows:
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(765 ILCS 1025/17) (from Ch. 141, par. 117)
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Sec. 17. (a) All abandoned
property, other than money and | ||||
that property
exempted by paragraphs (1), (2), (3), and (4), | ||||
and (5) of this subsection,
delivered to the
State Treasurer | ||||
under this Act shall be sold within a reasonable time to the
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highest bidder at public sale in whatever city in the State | ||||
affords in his or
her judgment the most favorable market for | ||||
the property involved. The State
Treasurer may decline the | ||||
highest bid and reoffer the property for sale if he
or she | ||||
considers the price bid insufficient.
The State Treasurer may | ||||
group items for auction as "box lots" if the value
of the | ||||
individual items makes it impracticable to sell the items
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individually.
He or she need not offer any
property for sale, | ||||
and may destroy or otherwise dispose of the property, if, in
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his or her opinion, the probable cost of sale exceeds the value | ||||
of the
property. Securities or commodities received by the | ||||
Office of the State
Treasurer may be sold by the State | ||||
Treasurer through a broker or sales agent
suitable for the sale | ||||
of the type of securities or commodities being sold.
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(1) Property which the State Treasurer determines may | ||
have historical
value may be, at his or her discretion, | ||
loaned to a recognized exhibitor in the
United States where | ||
it will be kept until such time as the State Treasurer
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orders it to be returned to his or her possession.
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(2) Property returned to the State Treasurer shall be | ||
released to the
rightful owner or otherwise disposed of in | ||
accordance with this Act. The State
Treasurer shall keep | ||
identifying records of the property so loaned, the name of
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rightful owner and the owner's last known address, if | ||
available.
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(3) The Treasurer, in cooperation with the Department | ||
of State Police,
shall
develop a procedure to determine | ||
whether a firearm delivered
to the Treasurer under this Act | ||
has been stolen or used in the commission of a
crime.
The | ||
Department of State Police shall determine
the appropriate | ||
disposition of a firearm that has been stolen or used in | ||
the
commission of a crime. The Treasurer shall attempt to | ||
return a firearm
that has not been stolen or used in the | ||
commission of a crime to the rightful
owner,
provided that | ||
the owner may lawfully possess the firearm as determined by | ||
the
Department of State Police.
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If the Treasurer is unable to return a firearm to its | ||
owner, the
Treasurer
shall transfer custody of the firearm | ||
to the Department of State
Police. Legal title to a firearm | ||
transferred to the Department of State Police
under this | ||
paragraph (3) is vested in the Department of
State Police | ||
by operation of law:
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(A) if the Treasurer cannot locate the owner of the | ||
firearm;
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(B) if the owner of the firearm may not lawfully | ||
possess the firearm;
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(C) if the owner does not respond to notice | ||
published under Section 12
of
this Act; or
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(D) if the owner responds to notice published under | ||
Section 12 and
states
that
he or she no longer claims | ||
an interest in the
firearm.
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With respect to a firearm whose title is transferred to | ||
the Department of
State
Police under this paragraph (3), | ||
that Department
may:
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(i) retain the firearm for use by the crime | ||
laboratory system, for
training
purposes, or for any | ||
other application as deemed
appropriate by the | ||
Department;
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(ii) transfer the firearm to the Illinois State | ||
Museum if the firearm
has
historical
value; or
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(iii) destroy the firearm if it is not retained | ||
pursuant to
subparagraph
(i)
or transferred
pursuant | ||
to subparagraph (ii).
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(4) If human remains are delivered to the Treasurer | ||
under this Act, the Treasurer shall deliver those human | ||
remains to the coroner of the county in which the human | ||
remains were abandoned for disposition under Section | ||
3-3034 of the Counties Code. The only human remains that | ||
may be delivered to the Treasurer under this Act and that | ||
the Treasurer may receive are those that are reported and | ||
delivered as contents of a safe deposit box.
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(5) If medals awarded to U.S. military personnel are | ||
delivered to the Treasurer under this Act, the Treasurer | ||
shall not offer those medals for sale or at public auction. | ||
The only medals that may be delivered to the Treasurer | ||
under this Act and that the Treasurer may receive are those | ||
that are reported and delivered as contents of a safe | ||
deposit box. Medals shall only be returned to the owner of | ||
the safe deposit box containing the medals or the heirs of | ||
that owner. This paragraph (5) may be referred to as | ||
Operation Search and Restore. | ||
(b) Any sale held under this Section, except a sale of | ||
securities or
commodities, shall be preceded by a single | ||
publication of notice thereof, at
least 3 weeks in advance of | ||
sale in an English language newspaper of general
circulation in | ||
the county where the property is to be sold.
When property | ||
fails to sell and is offered again at a subsequent sale, no
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additional notice is required for the subsequent sale.
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(c) The purchaser at any sale conducted by the State | ||
Treasurer pursuant to
this Act shall receive title to the | ||
property purchased, free from all claims of
the owner or prior | ||
holder thereof and of all persons claiming through or under
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them. The State Treasurer shall execute all documents necessary | ||
to complete the
transfer of title.
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(d) The Office of the State Treasurer is not liable for any | ||
reduction in the
value of property caused by changing market | ||
conditions.
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(Source: P.A. 94-422, eff. 8-2-05.)
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Section 99. Effective date. This Act takes effect upon | ||
becoming law.
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