HB 583 Illinois House · 94th Regular Session

UNCLAIMED PROP-ABANDONED ACCT

Summary
Amends the Uniform Disposition of Unclaimed Property Act. Excepts from the presumption of abandonment by a financial organization a demand, savings, or matured deposit or a fund paid toward the purchase of withdrawable shares or other interest in a financial organization where the owner has, within 5 years, engaged in the following activity regarding other funds or loan accounts with the banking organization: (i) undertook one or more the of the described actions regarding any account that appears on a consolidated statement with the inactive account; (ii) increased or decreased the amount of funds in any other account the owner has with the banking organization; or (iii) engaged in any other relationship with the banking organization, including payment of any amounts due on a loan. Provides that the exception applies only so long as the mailing address for the owner in the banking organization's books and records is the same for both the inactive account and for the active account.
Bill status signed all 5 stages cleared
Introduction
Feb 2005
Committee Review
Apr 2005
House Passage
May 2005
Senate Passage
May 2005
Signed into Law
Jul 2005
Introduced Feb 23, 2005 Signed Jul 19, 2005
Floor votes · Senate May 11, 2005 · House Feb 17, 2005

How they voted

48–0
Passed
Total votes 48
May 11, 2005
D Democratic26
26 Yea
100% Yea
R Republican22
22 Yea
100% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
31
Key actions
7
Committee
6
Amendments
2
Jul 19, 2005
Signed into law
Governor Approved
lower
May 11, 2005
Lower · Passed
Passed Both Houses
lower
May 11, 2005
Senate · Passed
Senate Vote: pass (48-0)
senate
Apr 21, 2005
Upper · Passed
Do Pass Financial Institutions; 006-000-000
upper
Apr 13, 2005
Committee
Assigned to Financial Institutions
upper
Mar 8, 2005
Committee
Referred to Rules
upper
Feb 23, 2005
Introduced
Arrive in Senate
upper
Feb 17, 2005
House · Passed
House Vote: pass (103-0-3)
house
Feb 9, 2005
Lower · Passed
Do Pass as Amended / Short Debate State Government Administration Committee; 008-000-001
lower
Feb 9, 2005
Lower · Passed
House Committee Amendment No. 1 Adopted in State Government Administration Committee; by Voice Vote
lower
Feb 9, 2005
Introduced
House Committee Amendment No. 1 Filed with Clerk by State Government Administration Committee
lower
Feb 2, 2005
Committee
Assigned to State Government Administration Committee
lower
Jan 27, 2005
Committee
Referred to Rules Committee
lower
0 primary · 1 co-sponsor

Sponsors

No sponsor information available.