reglab/housing_qa huggingface dataset:
765 ILCS 1026/15-604
2021 Illinois Compiled Statutes|Chapter 765 - PROPERTY|765 ILCS 1026/ - Revised Uniform Unclaimed Property Act.|Title 15 - Revised Uniform Unclaimed Property Act

Sec. 15-604. Effect of payment or delivery of property to administrator.(a) On payment or delivery of property to the administrator under this Act, the administrator as agent for the State assumes custody and responsibility for safekeeping the property.  A holder that pays or delivers property to the administrator in good faith and substantially complies with Sections 15-501 and 15-502 is relieved of all liability which thereafter may arise or be made in respect to the property to the extent of the value of the property so paid or delivered.(b) If legal proceedings are instituted by any other state or states in any state or federal court with respect to unclaimed funds or abandoned property previously paid or delivered to the administrator, the holder shall give written notification to the administrator and the Attorney General of this State of such proceedings within 10 days after service of process, or in the alternative at least 10 days before the return date or date on which an answer or similar pleading is due (or any extension thereof secured by the holder). The Attorney General may take such action as he or she deems necessary or expedient to protect the interests of this State. The Attorney General by written notice prior to the return date or date on which an answer or similar pleading is due (or any extension thereof secured by the holder), but in any event in reasonably sufficient time for the holder to comply with the directions received, shall either direct the holder actively to defend in such proceedings or that no defense need be entered in such proceedings. If a direction is received from the Attorney General that the holder need not make a defense, such shall not preclude the holder from entering a defense in its own name if it should so choose. However, any defense made by the holder on its own initiative shall not entitle the holder to reimbursement for legal fees, costs and other expenses as is hereinafter provided in respect to defenses made pursuant to the directions of the Attorney General. If, after the holder has actively defended in such proceedings pursuant to a direction of the Attorney General, or has been notified in writing by the Attorney General that no defense need be made with respect to such funds, a judgment is entered against the holder for any amount paid to the administrator under this Act, the administrator shall, upon being furnished with proof of payment in satisfaction of such judgment, reimburse the holder the amount so paid. The administrator shall also reimburse the holder for any legal fees, costs and other directly related expenses incurred in legal proceedings undertaken pursuant to the direction of the Attorney General.  (Source: P.A. 100-22, eff. 1-1-18.)
765 ILCS 1026/15-606
2021 Illinois Compiled Statutes|Chapter 765 - PROPERTY|765 ILCS 1026/ - Revised Uniform Unclaimed Property Act.|Title 15 - Revised Uniform Unclaimed Property Act

Sec. 15-606. Property removed from safe-deposit box.  Property removed from a safe-deposit box and delivered under this Act to the administrator under this Act is subject to the holder's right to reimbursement for the cost of opening the box and a lien or contract providing reimbursement to the holder for unpaid rent charges for the box.  Upon application by the holder, and after there are sufficient cash funds available either from the contents of the box or the sale of the property, the administrator shall reimburse the holder from the proceeds.  The administrator shall promulgate administrative rules concerning the reimbursement process under this Section.  (Source: P.A. 100-22, eff. 1-1-18; 100-566, eff. 1-1-18.)
765 ILCS 1026/15-607
2021 Illinois Compiled Statutes|Chapter 765 - PROPERTY|765 ILCS 1026/ - Revised Uniform Unclaimed Property Act.|Title 15 - Revised Uniform Unclaimed Property Act

Sec. 15-607. Crediting income or gain to owner's account.(a) If property other than money is delivered to the administrator, the owner is entitled to receive from the administrator income or gain realized or accrued on the property before the property is sold.(b) Before August 22, 2017, interest on money is not payable to an owner for periods where the property is in the possession of the administrator.(c) Beginning on August 22, 2017, the administrator shall pay interest to the owner of property in the form of money at the greater of: (i) the percentage increase, if any, in the Consumer Price Index for All Urban Consumers for all items published by the United States Department of Labor (CPI-U); or (ii) the actual rate of return the State Treasurer earned on the Unclaimed Property Trust Fund. Interest begins to accrue when property in the form of money is delivered to the administrator or when the administrator converts property to money pursuant to Article 7 and ends on the earlier of the expiration of 10 years after the property begins to accrue interest or the date on which payment is made to the owner. The administrator may establish by administrative rule more detailed methodologies for calculating the amount of interest to be paid to an owner under this Section.(d) When paying interest to an owner pursuant to subsection (c), the administrator shall charge a one-time administrative fee of $5, deductible only from interest. (Source: P.A. 102-288, eff. 8-6-21.)
765 ILCS 1026/15-608
2021 Illinois Compiled Statutes|Chapter 765 - PROPERTY|765 ILCS 1026/ - Revised Uniform Unclaimed Property Act.|Title 15 - Revised Uniform Unclaimed Property Act

Sec. 15-608. Administrator's options as to custody.(a) The administrator may decline to take custody of property reported under Section 15-401 if the administrator determines that:(1) the property has a value less than the estimated     expenses of notice and sale of the property; or(2) taking custody of the property would be unlawful.(b) A holder may pay or deliver property to the administrator before the property is presumed abandoned under this Act if the holder:(1) provides the apparent owner of the property any     notice required by Section 15-501 and provides the administrator evidence of the holder's compliance with this paragraph;(2) includes with the payment or delivery a report     regarding the property conforming to Section 15-402; and(3) first obtains the administrator's consent in a     record to accept payment or delivery.(c) A holder's request for the administrator's consent under subsection (b)(3) must be in a record.  If the administrator fails to respond to the request not later than 30 days after receipt of the request, the administrator is deemed to consent to the payment or delivery of the property and the payment or delivery is considered to have been made in good faith.(d) On payment or delivery of property under subsection (b), the property is presumed abandoned.  (Source: P.A. 100-22, eff. 1-1-18.)
765 ILCS 1026/15-609
2021 Illinois Compiled Statutes|Chapter 765 - PROPERTY|765 ILCS 1026/ - Revised Uniform Unclaimed Property Act.|Title 15 - Revised Uniform Unclaimed Property Act

Sec. 15-609. Disposition of property having no substantial value; immunity from liability.(a) If the administrator takes custody of property delivered under this Act and later determines that the property has no substantial commercial value or that the cost of disposing of the property will exceed the value of the property, the administrator may return the property to the holder or destroy or otherwise dispose of the property.(b) An action or proceeding may not be commenced against the State, an agency of the State, the administrator, another officer, employee, or agent of the State, or a holder for or because of an act of the administrator under this Section, except for intentional misconduct or malfeasance.  (Source: P.A. 100-22, eff. 1-1-18.)
765 ILCS 1026/15-610
2021 Illinois Compiled Statutes|Chapter 765 - PROPERTY|765 ILCS 1026/ - Revised Uniform Unclaimed Property Act.|Title 15 - Revised Uniform Unclaimed Property Act

Sec. 15-610. Periods of limitation and repose.(a) Expiration, before, on, or after the effective date of this Act, of a period of limitation on an owner's right to receive or recover property, whether specified by contract, statute, or court order, does not prevent the property from being presumed abandoned or affect the duty of a holder under this Act to file a report or pay or deliver property to the administrator.(b) An action or proceeding may not be maintained by the administrator to enforce this Act in regard to the reporting, delivery, or payment of property more than 10 years after the holder specifically identified the property in a report filed with the administrator or gave express notice to the administrator of a dispute regarding the property.  In the absence of such a report or other express notice, the period of limitation is tolled.  The period of limitation is also tolled by the filing of a report that is fraudulent.  (Source: P.A. 100-22, eff. 1-1-18.)
765 ILCS 1026/Art. 7 heading
2021 Illinois Compiled Statutes|Chapter 765 - PROPERTY|765 ILCS 1026/ - Revised Uniform Unclaimed Property Act.|Title 15 - Revised Uniform Unclaimed Property Act

   ARTICLE 7.  SALE OF PROPERTY BY ADMINISTRATOR  (Source: P.A. 100-22, eff. 1-1-18.)
765 ILCS 1026/15-701
2021 Illinois Compiled Statutes|Chapter 765 - PROPERTY|765 ILCS 1026/ - Revised Uniform Unclaimed Property Act.|Title 15 - Revised Uniform Unclaimed Property Act

Sec. 15-701. Public sale of property.(a) Subject to Section 15-702, not earlier than 3 years after receipt of property presumed abandoned, the administrator may sell the property.(b) Before selling property under subsection (a), the administrator shall give notice to the public of:(1) the date of the sale; and(2) a reasonable description of the property.(c) A sale under subsection (a) must be to the highest bidder:(1) at public sale at a location in this State which     the administrator determines to be the most favorable market for the property;(2) on the Internet; or(3) on another forum the administrator determines is     likely to yield the highest net proceeds of sale.(d) The administrator may decline the highest bid at a sale under this Section and reoffer the property for sale if the administrator determines the highest bid is insufficient.(e) If a sale held under this Section is to be conducted other than on the Internet, the administrator must cause to be published at least one notice of the sale, at least 2 weeks but not more than 5 weeks before the sale, in a newspaper of general circulation in the county in which the property is to be sold. For purposes of this subsection, the reasonable description of property to be sold required by subsection (b) above may be satisfied by posting such information on the administrator's website so long as the newspaper notice includes the website address where such information is posted.(f) Property eligible for sale will not be sold when a claim has been filed with the administrator by an apparent owner, heir, or agent. However, upon approval of a claim, the owner, heir or, agent may request the administrator to dispose of the property by sale and remit the net proceeds to the owner, heir, or agent.  Upon disapproval of the claim, the administrator may dispose of the property by sale.  (Source: P.A. 100-22, eff. 1-1-18.)
765 ILCS 1026/15-702
2021 Illinois Compiled Statutes|Chapter 765 - PROPERTY|765 ILCS 1026/ - Revised Uniform Unclaimed Property Act.|Title 15 - Revised Uniform Unclaimed Property Act

Sec. 15-702. Disposal of securities.(a) The administrator may not sell or otherwise liquidate a security until 3 years after the administrator receives the security and gives the apparent owner notice under Section 15-503 that the administrator holds the security unless the administrator determines it would be in the best interests of the owner for the sale to occur prior to the expiration of the 3-year period after the administrator receives the security and gives the apparent owner notice under Section 15-503. The administrator shall by administrative rule provide examples of situations where it would be in the best interests of the owner for the sale to occur prior to the expiration of the 3-year period.(b) The administrator may not sell a security listed on an established stock exchange for less than the price prevailing on the exchange at the time of sale. The administrator may sell a security not listed on an established exchange by any commercially reasonable method.  (Source: P.A. 100-22, eff. 1-1-18.)
765 ILCS 1026/15-703
2021 Illinois Compiled Statutes|Chapter 765 - PROPERTY|765 ILCS 1026/ - Revised Uniform Unclaimed Property Act.|Title 15 - Revised Uniform Unclaimed Property Act

Sec. 15-703. Recovery of securities or value by owner.(a) If the administrator sells a security before the expiration of 3 years after delivery of the security to the administrator, an apparent owner that files a valid claim under this Act of ownership of the security before the 3-year period expires is entitled, at the option of the owner, to receive:(1) replacement of the security;(2) the market value of the security at the time the     claim is filed, plus dividends, interest, and other increments on the security up to the time the claim is paid; or(3) the net proceeds of the sale of the security,     plus dividends, interest, and other increments on the security up to the time the security was sold.(b) Replacement of the security or calculation of market value under subsection (a) must take into account a stock split, reverse stock split, stock dividend, or similar corporate action.(c) A person that makes a valid claim under this Act of ownership of a security after expiration of 3 years after delivery of the security to the administrator is entitled to receive:(1) the security the holder delivered to the     administrator, if it is in the custody of the administrator, plus dividends, interest, and other increments on the security up to the time the administrator delivers the security to the person; or(2) the net proceeds of the sale of the security,     plus dividends, interest, and other increments on the security up to the time the security was sold.(d) Securities eligible for sale will not be sold when a claim has been filed with the administrator by an apparent owner, heir, or agent. However, upon approval of a claim, the owner, heir or, agent may request the administrator to dispose of the securities by sale and remit the net proceeds to the owner, heir, or agent. Upon disapproval of the claim, the administrator may dispose of the securities by sale.  (Source: P.A. 100-22, eff. 1-1-18.)
765 ILCS 1026/15-704
2021 Illinois Compiled Statutes|Chapter 765 - PROPERTY|765 ILCS 1026/ - Revised Uniform Unclaimed Property Act.|Title 15 - Revised Uniform Unclaimed Property Act

Sec. 15-704. Purchaser owns property after sale.   A purchaser of property at a sale conducted by the administrator under this Act takes the property free of all claims of the owner, a previous holder, or a person claiming through the owner or holder. The administrator shall execute documents necessary to complete the transfer of ownership to the purchaser.  (Source: P.A. 100-22, eff. 1-1-18.)
765 ILCS 1026/Art. 8 heading
2021 Illinois Compiled Statutes|Chapter 765 - PROPERTY|765 ILCS 1026/ - Revised Uniform Unclaimed Property Act.|Title 15 - Revised Uniform Unclaimed Property Act

   ARTICLE 8.  ADMINISTRATION OF PROPERTY  (Source: P.A. 100-22, eff. 1-1-18.)
765 ILCS 1026/15-801
2021 Illinois Compiled Statutes|Chapter 765 - PROPERTY|765 ILCS 1026/ - Revised Uniform Unclaimed Property Act.|Title 15 - Revised Uniform Unclaimed Property Act

Sec. 15-801. Deposit of funds by administrator.(a) Except as otherwise provided in this Section, the administrator shall deposit in the Unclaimed Property Trust Fund all funds received under this Act, including proceeds from the sale of property under Article 7.  The administrator may deposit any amount in the Unclaimed Property Trust Fund into the State Pensions Fund during the fiscal year at his or her discretion; however, he or she shall, on April 15 and October 15 of each year, deposit any amount in the Unclaimed Property Trust Fund exceeding $2,500,000 into the State Pensions Fund. If on either April 15 or October 15, the administrator determines that a balance of $2,500,000 is insufficient for the prompt payment of unclaimed property claims authorized under this Act, the administrator may retain more than $2,500,000 in the Unclaimed Property Trust Fund in order to ensure the prompt payment of claims. Beginning in State fiscal year 2023, all amounts that are deposited into the State Pensions Fund from the Unclaimed Property Trust Fund shall be apportioned to the designated retirement systems as provided in subsection (c-6) of Section 8.12 of the State Finance Act to reduce their actuarial reserve deficiencies.(b) The administrator shall make prompt payment of claims he or she duly allows as provided for in this Act from the Unclaimed Property Trust Fund. This shall constitute an irrevocable and continuing appropriation of all amounts in the Unclaimed Property Trust Fund necessary to make prompt payment of claims duly allowed by the administrator pursuant to this Act.  (Source: P.A. 101-10, eff. 6-5-19; 101-636, eff. 6-10-20; 102-16, eff. 6-17-21.)
765 ILCS 1026/15-802
2021 Illinois Compiled Statutes|Chapter 765 - PROPERTY|765 ILCS 1026/ - Revised Uniform Unclaimed Property Act.|Title 15 - Revised Uniform Unclaimed Property Act

Sec. 15-802. Administrator to retain records of property. The administrator shall:(1) record and retain the name and last-known address     of each person shown on a report filed under Section 15-401 to be the apparent owner of property delivered to the administrator;(2) record and retain the name and last-known address     of each insured or annuitant and beneficiary shown on the report;(3) for each policy of insurance or annuity contract     listed in the report of an insurance company, record and retain the policy or account number, the name of the company, and the amount due or paid shown on the report;(4) for each apparent owner listed in the report,     record and retain the name of the holder that filed the report and the amount due or paid; and(5) maintain records sufficient to indicate the     filing of reports required under Section 15-401 and the payment or delivery of property to the administrator under Section 15-603.Records created or maintained pursuant to this Section are subject to the requirements of the Illinois State Records Act.  (Source: P.A. 100-22, eff. 1-1-18.)
765 ILCS 1026/15-803
2021 Illinois Compiled Statutes|Chapter 765 - PROPERTY|765 ILCS 1026/ - Revised Uniform Unclaimed Property Act.|Title 15 - Revised Uniform Unclaimed Property Act

Sec. 15-803. Expenses and service charges of administrator.   Before making a deposit of funds received under this Act to the Unclaimed Property Trust Fund, the administrator may deduct expenses incurred in examining records of or collecting property from a putative holder or holder as provided in the State Officers and Employees Money Disposition Act.  (Source: P.A. 100-22, eff. 1-1-18.)
765 ILCS 1026/15-804
2021 Illinois Compiled Statutes|Chapter 765 - PROPERTY|765 ILCS 1026/ - Revised Uniform Unclaimed Property Act.|Title 15 - Revised Uniform Unclaimed Property Act

Sec. 15-804. Administrator holds property as custodian for owner.   Upon the payment or delivery of abandoned property to the administrator, the State shall assume custody and shall be responsible for the safekeeping thereof.  (Source: P.A. 100-22, eff. 1-1-18.)
765 ILCS 1026/Art. 9 heading
2021 Illinois Compiled Statutes|Chapter 765 - PROPERTY|765 ILCS 1026/ - Revised Uniform Unclaimed Property Act.|Title 15 - Revised Uniform Unclaimed Property Act

   ARTICLE 9.  CLAIM TO RECOVER PROPERTY FROM ADMINISTRATOR  (Source: P.A. 100-22, eff. 1-1-18.)
765 ILCS 1026/15-901
2021 Illinois Compiled Statutes|Chapter 765 - PROPERTY|765 ILCS 1026/ - Revised Uniform Unclaimed Property Act.|Title 15 - Revised Uniform Unclaimed Property Act

Sec. 15-901. Claim of another state to recover property.(a) If the administrator knows that property held by the administrator under this Act is subject to a superior claim of another state, the administrator shall:(1) report and pay or deliver the property to the     other state; or(2) return the property to the holder so that the     holder may pay or deliver the property to the other state.(b) The administrator is not required to enter into an agreement to transfer property to the other state under subsection (a).  (Source: P.A. 100-22, eff. 1-1-18.)
765 ILCS 1026/15-902
2021 Illinois Compiled Statutes|Chapter 765 - PROPERTY|765 ILCS 1026/ - Revised Uniform Unclaimed Property Act.|Title 15 - Revised Uniform Unclaimed Property Act

Sec. 15-902. Property subject to recovery by another state.(a) Property held under this Act by the administrator is subject to the right of another state to take custody of the property if:(1) the property was paid or delivered to the     administrator because the records of the holder did not reflect a last-known address in the other state of the apparent owner and:(A) the other state establishes that the         last-known address of the apparent owner or other person entitled to the property was in the other state; or(B) under the law of the other state, the         property has become subject to a claim by the other state of abandonment;(2) the records of the holder did not accurately     identify the owner of the property, the last-known address of the owner was in another state, and, under the law of the other state, the property has become subject to a claim by the other state of abandonment;(3) the property was subject to the custody of the     administrator of this State under Section 15-305 and, under the law of the state of domicile of the holder, the property has become subject to a claim by the state of domicile of the holder of abandonment; or(4) the property:(A) is a sum payable on a traveler's check, money         order, or similar instrument that was purchased in the other state and delivered to the administrator under Section 15-306; and(B) under the law of the other state, has become         subject to a claim by the other state of abandonment.(b) A claim by another state to recover property under this Section must be presented in a form prescribed by the administrator, unless the administrator waives presentation of the form.(c) The administrator shall decide a claim under this Section not later than 90 days after it is presented. If the administrator determines that the other state is entitled under subsection (a) to custody of the property, the administrator shall allow the claim and pay or deliver the property to the other state.(d) The administrator may require another state, before recovering property under this Section, to agree to indemnify this State and its agents, officers and employees against any liability on a claim to the property.  (Source: P.A. 100-22, eff. 1-1-18.)
765 ILCS 1026/15-903
2021 Illinois Compiled Statutes|Chapter 765 - PROPERTY|765 ILCS 1026/ - Revised Uniform Unclaimed Property Act.|Title 15 - Revised Uniform Unclaimed Property Act

Sec. 15-903. Claim for property by person claiming to be owner.(a) A person claiming to be the owner of property held under this Act by the administrator or to the proceeds from the sale thereof may file a claim for the property on a form prescribed by the administrator.  The claimant must verify the claim as to its completeness and accuracy.(b) The administrator may waive the requirement in subsection (a) and may pay or deliver property directly to a person if:(1) the person receiving the property or payment is     shown to be the apparent owner included on a report filed under Section 15-401;(2) the administrator reasonably believes the person     is entitled to receive the property or payment; and(3) the property has a value of less than $500.(c) The administrator may change the maximum value in subsection (b) by administrative rule.  (Source: P.A. 100-22, eff. 1-1-18.)