State of Illinois
Public Acts
92^nd General Assembly

Public Act 92-0487

SB76 Enrolled                                  LRB9201198WHcs

    AN ACT to amend  the  Uniform  Disposition  of  Unclaimed
Property Act by adding Section 10.6.

    Be  it  enacted  by  the People of the State of Illinois,
represented in the General Assembly:

    Section 5.  The Uniform Disposition of Unclaimed Property
Act is amended by adding Section 10.6 as follows:

    (765 ILCS 1025/10.6 new)
    Sec. 10.6.  Gift certificates and gift cards.
    (a)  This Act applies to a gift certificate or gift  card
only if:
         (i)  the  gift  certificate or gift card contains an
    expiration date or expiration period; and
         (ii)  none of the exceptions in this Section apply.
    (b)  This Act does not apply to  a  gift  certificate  or
gift  card  that  contains  an  expiration date or expiration
period if:
         (i)  the gift certificate or gift  card  was  issued
    before  the  effective date of this amendatory Act of the
    92nd General Assembly; and
         (ii)  it is the policy and practice of the issuer of
    the gift certificate or  gift  card  to  honor  the  gift
    certificate or gift card after its expiration date or the
    end of its expiration period and the issuer posts written
    notice  of  the policy and practice at locations at which
    the issuer sells gift certificates or  gift  cards.   The
    written notice shall be an original or a copy of a notice
    that  the  State  Treasurer  shall produce and provide to
    issuers free of charge.
    (c)  Nothing  in  this  Section   applies   to   a   gift
certificate or gift card if the value of the gift certificate
or  gift card was reported and remitted under this Act before
the effective date of this amendatory Act of the 92nd General
Assembly.

    Section 99.  This Act takes effect upon becoming law.
    Passed in the General Assembly May 31, 2001.
    Approved August 23, 2001.
    Effective August 23, 2001.