(Text of Section before amendment by P.A. 104-116)

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. (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. (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. (3) the State agency has not initiated a claim or otherwise expressed an indication of interest in the property.

(Source: P.A. 103-148, eff. 6-30-23.)