Sen. John J. Cullerton
Filed: 2/28/2007
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1 | AMENDMENT TO SENATE BILL 486
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2 | AMENDMENT NO. ______. Amend Senate Bill 486 by replacing | ||||||
3 | everything after the enacting clause with the following:
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4 | "Section 5. The Code of Civil Procedure is amended by | ||||||
5 | adding Section 2-807 as follows: | ||||||
6 | (735 ILCS 5/2-807 new) | ||||||
7 | Sec. 2-807. Residual funds in a common fund created in a | ||||||
8 | class action. | ||||||
9 | (a) Definitions. As used in this Section: | ||||||
10 | "Eligible organization" means a not-for-profit | ||||||
11 | organization that: | ||||||
12 | (i) has been in existence for no less than 3 years; | ||||||
13 | (ii) has been tax exempt for no less than 3 years from
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14 | the payment of federal taxes under Section 501(c)(3) of the | ||||||
15 | Internal
Revenue Code; | ||||||
16 | (iii) is in compliance with registration and filing |
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1 | requirements
applicable pursuant to the Charitable Trust | ||||||
2 | Act and the Solicitation for
Charity Act; and | ||||||
3 | (iv) has a principal purpose of promoting or providing | ||||||
4 | services
that would be eligible for funding under the | ||||||
5 | Illinois Equal Justice Act. | ||||||
6 | "Residual funds" means all unclaimed funds, including | ||||||
7 | uncashed checks or other unclaimed payments, that remain in a | ||||||
8 | common fund created in a class action after court-approved | ||||||
9 | payments are made for the following: | ||||||
10 | (i) class member claims; | ||||||
11 | (ii) attorney's fees and costs; and | ||||||
12 | (iii) any reversions to a defendant agreed upon by the | ||||||
13 | parties. | ||||||
14 | (b) Settlement. An order approving a proposed settlement of | ||||||
15 | a class action that results in the creation of a common fund | ||||||
16 | for the benefit of the class shall, consistent with the other | ||||||
17 | Sections of this Part, establish a process for the | ||||||
18 | administration of the settlement and shall provide for the | ||||||
19 | distribution of any residual funds to one or more eligible | ||||||
20 | organizations, except that up to 50% of the residual funds may | ||||||
21 | be distributed to one or more other nonprofit charitable | ||||||
22 | organizations or other organizations that serve the public good | ||||||
23 | if the court finds there is good cause to approve such a | ||||||
24 | distribution as part of a settlement. | ||||||
25 | (c) Judgment. A judgment in favor of the plaintiff in a | ||||||
26 | class action that results in the creation of a common fund for |
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1 | the benefit of the class shall provide for the distribution of | ||||||
2 | any residual funds to one or more eligible organizations. | ||||||
3 | (d) State and its political subdivisions. This Section does | ||||||
4 | not apply to any class action lawsuit against the State of | ||||||
5 | Illinois or any of its political subdivisions. | ||||||
6 | (e) Application. This Section applies to all actions | ||||||
7 | commenced on or after the effective date of this amendatory Act | ||||||
8 | of the 95th General Assembly and to all actions pending on the | ||||||
9 | effective date of this amendatory Act of the 95th General | ||||||
10 | Assembly.
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11 | Section 99. Effective date. This Act takes effect July 1, | ||||||
12 | 2008.".
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