Illinois Compiled Statutes 765 ILCS 1026/15-502 – Contents of notice by holder
Current as of: 2024 | Check for updates
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(a) Notice under Section 15-501 must contain a heading that reads substantially as follows: “Notice. The State of Illinois requires us to notify you that your property may be transferred to the custody of the State Treasurer if you do not contact us before (insert date that is 30 days after the date of this notice).”.
(b) The notice under Section 15-501 must:
(1) identify the nature and, except for property that
(b) The notice under Section 15-501 must:
Terms Used In Illinois Compiled Statutes 765 ILCS 1026/15-502
- Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
- United States: may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
(1) identify the nature and, except for property that
does not have a fixed value, the value of the property that is the subject of the notice;
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(2) state that the property will be turned over to
the State Treasurer;
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(3) state that after the property is turned over to
the State Treasurer an apparent owner that seeks return of the property may file a claim with the State Treasurer;
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(4) state that property that is not legal tender of
the United States may be sold by the State Treasurer;
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(5) provide instructions that the apparent owner must
follow to prevent the holder from reporting and paying or delivering the property to the State Treasurer; and
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(6) provide the name, address, and e-mail address or
telephone number to contact the holder.
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(c) The holder may supplement the required information by listing a website where apparent owners may obtain more information about how to prevent the holder from reporting and paying or delivering the property to the State Treasurer.