Ill. Admin. Code tit. 74 § 760.240

Current through Register Vol. 48, No. 50, December 13, 2024

Section 760.240 - Payroll Cards

a) Amounts held on payroll cards are presumed abandoned one year after the amount becomes payable under Section 15-201(13) of the Act.

b) Because payroll cards are not stored value cards, this one year period of abandonment applies to payroll cards instead of the 5-year period of abandonment for stored value cards under Section 15-206 of the Act.

Ill. Admin. Code tit. 74, § 760.240

Adopted at 43 Ill. Reg. 4253, effective 3/25/2019.