Bill Status of HB 5373   95th General Assembly

Short Description:  UNCLAIMED PROP-CONSUMER FRAUD

House Sponsors
Rep. John A. Fritchey-Harry Osterman-Karen May, Elizabeth Hernandez, Charles E. Jefferson and Monique D. Davis

Last Action  View All Actions

DateChamber Action
  1/13/2009HouseSession Sine Die

Statutes Amended In Order of Appearance
765 ILCS 1025/20from Ch. 141, par. 120
815 ILCS 505/2BBB new

Synopsis As Introduced
Amends the Uniform Disposition of Unclaimed Property Act. Provides that a person or company offering to identify, discover, or collect presumptively abandoned property or property that may become presumptively abandoned on behalf of the putative owner in exchange for a contingent fee must provide the owner with a written disclosure that includes, at a minimum, the identity of the holder of the property, the date the property became or will become reportable, and a statement indicating that the Office of the State Treasurer does not charge fees for the recovery of any property transferred to its custody under the Act. Provides that a person or company may not charge a contingent fee greater than 10% for the recovery of property that is not yet reportable property under the Act. Amends the Consumer Fraud and Deceptive Practices Act. Provides that a person offering to identify, discover, or collect property, held or likely to be reported to any public agency, on behalf of the putative owner in exchange for a contingent fee must provide the owner with a written disclosure that includes, at a minimum, the identity of the holder of the property, the date the property came into the possession of the public agency or will become reportable to the agency, and a statement indicating the public agency does not charge fees for the recovery of any property transferred to its custody under the Uniform Disposition of Unclaimed Property Act. Provides that a person who violates this provision commits an unlawful practice. Effective immediately.

Actions 
DateChamber Action
  2/14/2008HouseFiled with the Clerk by Rep. Harry Osterman
  2/14/2008HouseAdded Chief Co-Sponsor Rep. John A. Fritchey
  2/14/2008HouseAdded Chief Co-Sponsor Rep. Karen May
  2/14/2008HouseFirst Reading
  2/14/2008HouseReferred to Rules Committee
  2/26/2008HouseAssigned to Judiciary I - Civil Law Committee
  3/5/2008HouseDo Pass / Short Debate Judiciary I - Civil Law Committee; 014-000-000
  3/5/2008HousePlaced on Calendar 2nd Reading - Short Debate
  4/10/2008HouseHouse Amendment No. 1 Filed with Clerk by Rep. Harry Osterman
  4/10/2008HouseHouse Amendment No. 1 Referred to Rules Committee
  4/15/2008HouseHouse Amendment No. 2 Filed with Clerk by Rep. Harry Osterman
  4/15/2008HouseHouse Amendment No. 2 Referred to Rules Committee
  4/16/2008HouseAdded Co-Sponsor Rep. Elizabeth Hernandez
  4/18/2008HouseFinal Action Deadline Extended-9(b) May 9, 2008
  5/7/2008HouseHouse Amendment No. 3 Filed with Clerk by Rep. Harry Osterman
  5/7/2008HouseHouse Amendment No. 3 Referred to Rules Committee
  5/7/2008HouseHouse Amendment No. 4 Filed with Clerk by Rep. Harry Osterman
  5/7/2008HouseHouse Amendment No. 4 Referred to Rules Committee
  5/8/2008HouseSecond Reading - Short Debate
  5/8/2008HouseHeld on Calendar Order of Second Reading - Short Debate
  5/8/2008HouseAdded Co-Sponsor Rep. Charles E. Jefferson
  5/8/2008HouseAdded Co-Sponsor Rep. Monique D. Davis
  5/9/2008HouseFinal Action Deadline Extended-9(b) May 23, 2008
  5/16/2008HouseChief Sponsor Changed to Rep. John A. Fritchey
  5/16/2008HouseRemove Chief Co-Sponsor Rep. John A. Fritchey
  5/16/2008HouseAdded Chief Co-Sponsor Rep. Harry Osterman
  5/23/2008HouseFinal Action Deadline Extended-9(b) May 31, 2008
  5/31/2008HouseRule 19(a) / Re-referred to Rules Committee
  1/13/2009HouseSession Sine Die

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