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Unclaimed Property ADVISORY: Illinois General Assembly Stealthily Enacts Version of Revised Uniform Unclaimed Property Act

July 14, 2017 By Michael Giovannini

Illinois passed its first budget in two years – and snuck in (a modified version of) the 2016 Revised Uniform Unclaimed Property Act. Our Unclaimed Property Team unearths the Act’s numerous provisions, many of them unfavorable for holders. Eliminating the B2B exemption Other variations from the uniform Act and current Illinois law Potential legal hurdles Read the advisory here. [...]Read more

Filed Under: Unclaimed Property Advisory Tagged With: b2b, business-to-business exemption, contractual anti-limitation provision, Escheat, Gift cards, Governor Bruce Rauner, HB 2603, Illinois General Assembly, merchandise credit, Revised Uniform Unclaimed Property Act, RUUPA, SB 9, statutes of limitation, stroed value cards, tax-deferred retirement accounts and securities, tax-deffered, Uniform Unclaimed Property Act

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