Illinois 93rd Regular Session Status: In Committee

SB 1096 — DISPOSITON OF PROP-NON PROFIT

Last action — Session Sine Die

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 93rd Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Amends the Uniform Disposition of Unclaimed Property Act. Provides that unclaimed property payable or distributable in the course of a demutualization of an insurance company is presumed abandoned 5 years after the earlier of the date of last contact with the policyholder or the date the property became payable or distributable. Provides for an exemption from the Act for gift certificates and gift cards that contain an expiration date or expiration period issued by a nonprofit organization as defined under Section 501(c)(3) of the Internal Revenue Code. Provides that a holder or any party with information about the owner is prohibited from charging a fee or service charge to an owner in order to prevent abandonment from being presumed. Effective immediately.

Bill Text

Action History

  1. Session Sine Die

  2. Rule 3-9(a) / Re-referred to Rules

  3. Assigned to Executive

  4. Referred to Rules

  5. First Reading

  6. Filed with Secretary by Sen. Dave Sullivan

Sponsors

  • Dave Sullivan · Cosponsor

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on

Sponsors (0)

None.

Co-sponsors (1)

  • Dave Sullivan

Not signed on (182)

182 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

finance health-insurance
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Frequently asked questions

What does SB 1096 do?
Amends the Uniform Disposition of Unclaimed Property Act. Provides that unclaimed property payable or distributable in the course of a demutualization of an insurance company is presumed abandoned 5 years after the earlier of the date of last contact with the policyholder or the date the property became payable or distributable. Provides for an exemption from the Act for gift certificates and gift cards that contain an expiration date or expiration period issued by a nonprofit organization as defined under Section 501(c)(3) of the Internal Revenue Code. Provides that a holder or any party with information about the owner is prohibited from charging a fee or service charge to an owner in order to prevent abandonment from being presumed. Effective immediately.
Who sponsors SB 1096?
SB 1096 is sponsored by Dave Sullivan.
What is the current status of SB 1096?
This bill died with 93rd Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 1096?
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Last checked for changes 3 months ago · updated continuously

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