Illinois General Assembly - Bill Status for HB0583
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 Bill Status of HB0583  94th General Assembly


House Sponsors
Rep. Randall M. Hultgren - Sidney H. Mathias

Senate Sponsors
(Sen. Dan Rutherford and Pamela J. Althoff)

Last Action
DateChamber Action
  7/19/2005HousePublic Act . . . . . . . . . 94-0255

Statutes Amended In Order of Appearance
765 ILCS 1025/2from Ch. 141, par. 102

Synopsis As Introduced
Amends the Uniform Disposition of Unclaimed Property Act. Excepts from the presumption of abandonment by a financial organization a demand, savings, or matured deposit or a fund paid toward the purchase of withdrawable shares or other interest in a financial organization where the owner has, within 5 years, engaged in the following activity regarding other funds or loan accounts with the banking organization: (i) undertook one or more the of the described actions regarding any account that appears on a consolidated statement with the inactive account; (ii) increased or decreased the amount of funds in any other account the owner has with the banking organization; or (iii) engaged in any other relationship with the banking organization, including payment of any amounts due on a loan. Provides that the exception applies only so long as the mailing address for the owner in the banking organization's books and records is the same for both the inactive account and for the active account.

House Committee Amendment No. 1
Changes references from banking organizations to financial organizations.

DateChamber Action
  1/27/2005HouseFiled with the Clerk by Rep. Randall M. Hultgren
  1/27/2005HouseFirst Reading
  1/27/2005HouseReferred to Rules Committee
  2/2/2005HouseChief Co-Sponsor Rep. Sidney H. Mathias
  2/2/2005HouseAssigned to State Government Administration Committee
  2/9/2005HouseHouse Committee Amendment No. 1 Filed with Clerk by State Government Administration Committee
  2/9/2005HouseHouse Committee Amendment No. 1 Adopted in State Government Administration Committee; by Voice Vote
  2/9/2005HouseDo Pass as Amended / Short Debate State Government Administration Committee; 008-000-001
  2/10/2005HousePlaced on Calendar 2nd Reading - Short Debate
  2/10/2005HouseSecond Reading - Short Debate
  2/10/2005HousePlaced on Calendar Order of 3rd Reading - Short Debate
  2/17/2005HouseThird Reading - Short Debate - Passed 113-000-004
  2/23/2005SenateArrive in Senate
  2/23/2005SenatePlaced on Calendar Order of First Reading February 24, 2005
  3/4/2005SenateChief Senate Sponsor Sen. Dan Rutherford
  3/8/2005SenateFirst Reading
  3/8/2005SenateReferred to Rules
  4/13/2005SenateAssigned to Financial Institutions
  4/20/2005SenateAdded as Alternate Co-Sponsor Sen. Pamela J. Althoff
  4/21/2005SenateDo Pass Financial Institutions; 006-000-000
  4/21/2005SenatePlaced on Calendar Order of 2nd Reading May 3, 2005
  5/5/2005SenateSecond Reading
  5/5/2005SenatePlaced on Calendar Order of 3rd Reading May 10, 2005
  5/11/2005SenateThird Reading - Passed; 059-000-000
  5/11/2005HousePassed Both Houses
  6/9/2005HouseSent to the Governor
  6/9/2005HouseSent to the Governor
  7/19/2005HouseGovernor Approved
  7/19/2005HouseEffective Date January 1, 2006
  7/19/2005HousePublic Act . . . . . . . . . 94-0255

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