Ill. Admin. Code tit. 74 § 760.710

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

Section 760.710 - Purpose

a) The goal of an unclaimed property examination shall be to determine whether a person is in compliance with the Act. Unclaimed property is reported to the State of Illinois pursuant to the Act and the federal common law as established by the U.S. Supreme Court (Texas v. New Jersey, 379 U.S. 674 (1965); Pennsylvania v. New York, 407 U.S. 206 (1972); and Delaware v. New York, 507 U.S. 490 (1993)).

b) The administrator's goal in every examination is to be predictable, fair and consistent while determining the historical compliance of the person being examined, and to encourage and facilitate that person's ongoing and future compliance with the Act.

Ill. Admin. Code tit. 74, § 760.710

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