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Current as of January 01, 2025 | Updated by Findlaw Staff
§ 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.
Cite this article: FindLaw.com - Illinois Statutes Chapter 765. Property § 1026/15-806. Escheat of certain abandoned State agency moneys - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-765-property/il-st-sect-765-1026-15-806/
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