Illinois § 15-806
Full text of Illinois Illinois Compiled Statutes § 15-806, with citation guidance and answers to common questions.
§ 15-806.
Escheat of certain abandoned State agency moneys. 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) 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) 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) 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.) (Text of Section after amendment by P.A. 104-116) Sec. 15-806. Escheat of certain abandoned State agency moneys. 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) the administrator has provided written notice to the State agency and the Governor's Office of Management and Budget pursuant to subsection (c) of Section 15-504; (2) it has been more than 1 year since the administrator first provided written notice to the State agency pursuant to subsection (c) of Section 15-504; (3) the State agency has not initiated a claim or otherwise expressed an indication of interest in the property; and (4) the administrator provides written notice of the escheat to the Director of the Governor's Office of Management and Budget. (Source: P.A. 103-148, eff. 6-30-23; 104-116, eff. 1-1-26.)
Frequently Asked Questions About Illinois § 15-806
What does Illinois Compiled Statutes § 15-806 cover?
Section 15-806 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 § 15-806?
A common citation format is "Illinois Compiled Statutes § 15-806" (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 § 15-806 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.