Illinois General Assembly - Illinois Compiled Statutes

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755 ILCS 5/24-20

(755 ILCS 5/24-20) (from Ch. 110 1/2, par. 24-20)

Sec. 24-20. Deposit of unclaimed money.

Before July 1, 2024, when the receipt of a
ward, a distributee of an estate, or a claimant
cannot be obtained for money or any other asset of the estate, the
representative by leave of court may sell the asset and deposit the net
proceeds together with any other money of the estate belonging to the ward,
distributee,  or claimant with the county treasurer of the county in which the
estate is being administered.  The representative shall notify the county
treasurer in writing of the identity of the persons entitled
thereto and, if known, their last known post office address.  The
county treasurer shall give the representative a receipt
therefor which shall be filed in the court.  The person entitled to the
money so deposited may obtain it, plus interest at a rate equal to
the average interest rate on 3 month United States Treasury Bills issued during
the time the money was on deposit, upon application to the court and
satisfactory proof of his right thereto.

On or after July 1, 2024, when the receipt of a ward, a distributee of an estate, or a claimant cannot be found, the representative shall report and remit the share of the missing person to the State Treasurer for disposition under the Revised Uniform Unclaimed Property Act.

(Source: P.A. 103-148, eff. 6-30-23.)