HB2461eng 101ST GENERAL ASSEMBLY

HB2461 Engrossed LRB101 08974 LNS 54067 b

AN ACT concerning civil law.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Revised Uniform Unclaimed Property Act is amended by changing Section 15-904 as follows:

(765 ILCS 1026/15-904)

Sec. 15-904. When administrator must honor claim for property.

(a) The administrator shall pay or deliver property to a claimant under subsection (a) of Section 15-903 if the administrator receives evidence sufficient to establish to the satisfaction of the administrator that the claimant is the owner of the property.

(b) A claim will be considered complete when a claimant has provided all the information and documentation requested by the administrator as necessary to establish legal ownership and such information or documentation is entered into the administrator's unclaimed property system. Unless extended for reasonable cause, not later than 90 days after a claim is complete the administrator shall allow or deny the claim and give the claimant notice in a record of the decision. If a claimant fails to provide all the information and documentation requested by the administrator as necessary to establish legal ownership of the property and the claim is inactive for at least 90 days, then the administrator may close the claim without issuing a final decision. However, if the claimant makes a request in writing for a final decision prior to the administrator's closing of the claim, the administrator shall issue a final decision.

(b-5) An heir or agent who files an unclaimed property claim in which the decedent's property does not exceed $100 may submit an affidavit attesting to the heir's or agent's capacity to claim in lieu of submitting a certified copy to verify a claim. The affidavit shall be accompanied by a copy of other documentary proof that the administrator requests. The administrator may change the maximum value in this subsection by administrative rule.

(c) If the claim is denied or there is insufficient evidence to allow the claim under subsection (b):

(1) the administrator shall inform the claimant of the reason for the denial and may specify what additional evidence, if any, is required for the claim to be allowed;

(2) the claimant may file an amended claim with the administrator or commence an action under Section 15-906; and

(3) the administrator shall consider an amended claim filed under paragraph (2) as an initial claim.

(Source: P.A. 100-22, eff. 1-1-18.)

Section 99. Effective date. This Act takes effect upon becoming law.