Illinois General Assembly - Illinois Compiled Statutes

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765 ILCS 1026/15-806

(765 ILCS 1026/15-806)
Sec. 15-806. Escheat of certain abandoned State agency moneys.

Property presumed abandoned where the administrator reasonably believes the owner is a State agency as defined in the Illinois State Auditing Act, shall escheat to the State and shall be deposited into the General Revenue Fund if all of the following apply:

(1) the administrator has provided written notice to

the State agency pursuant to subsection (c) of Section 15-504 at least 3 times in at least 3 different calendar years;

(2) it has been more than 3 years since the

administrator first provided written notice to the State agency pursuant to subsection (c) of Section 15-504; and

(3) the State agency has not initiated a claim or

otherwise expressed an indication of interest in the property.

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