Illinois § 124B-505
Full text of Illinois Illinois Compiled Statutes § 124B-505, with citation guidance and answers to common questions.
§ 124B-505.
Sec. 124B-505. Distribution of property and sale proceeds. (a) All moneys and the sale proceeds of all other property forfeited and seized under this Part 500 shall be distributed as follows: (1) One-half shall be divided equally between all State agencies and units of local government whose officers or employees conducted the investigation that resulted in the forfeiture. (2) One-half shall be deposited into the Violent Crime Victims Assistance Fund. (b) Before any distribution under subsection (a), the Attorney General or State's Attorney shall retain from the forfeited moneys or sale proceeds, or both, sufficient moneys to cover expenses related to the administration and sale of the forfeited property. (Source: P.A. 96-712, eff. 1-1-10.)
Frequently Asked Questions About Illinois § 124B-505
What does Illinois Compiled Statutes § 124B-505 cover?
Section 124B-505 is part of the Illinois Compiled Statutes, the codified statutory law of Illinois. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Illinois § 124B-505?
A common citation format is "Illinois Compiled Statutes § 124B-505" (Illinois). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Illinois law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Illinois official source linked on this page or consult a licensed Illinois attorney.
How does Illinois § 124B-505 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Illinois can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Illinois.