Illinois Compiled Statutes 765 ILCS 1026/15-304 – Holder domiciled in this State
Current as of: 2024 | Check for updates
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(a) Except as in subsection (b) or Section 15-302 or 15-303, the administrator may take custody of property presumed abandoned, whether located in this State, another state, or a foreign country, if the holder is domiciled in this State or is this State or a governmental subdivision, agency, or instrumentality of this State, and
(1) another state or foreign country is not entitled
(1) another state or foreign country is not entitled
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to the property because there is no last-known address of the apparent owner or other person entitled to the property in the records of the holder; or
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(2) the state or foreign country of the last-known
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address of the apparent owner or other person entitled to the property does not provide for custodial taking of the property.
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(b) Property is not subject to custody of the administrator under subsection (a) if the property is specifically exempt from custodial taking under the law of this State or the state or foreign country of the last-known address of the apparent owner.
(c) If a holder’s state of domicile has changed since the time property was presumed abandoned, the holder’s state of domicile under this Section is deemed to be the state where the holder was domiciled at the time the property was presumed abandoned.
Terms Used In Illinois Compiled Statutes 765 ILCS 1026/15-304
- 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
(c) If a holder’s state of domicile has changed since the time property was presumed abandoned, the holder’s state of domicile under this Section is deemed to be the state where the holder was domiciled at the time the property was presumed abandoned.