Ill. Admin. Code tit. 74 § 760.970

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

Section 760.970 - Action Involving Another State or Foreign Country

a)The administrator may join another state or foreign country to examine and seek enforcement of the Act against a putative holder. [ 765 ILCS 1026/15-1203(a) ]

b)On request of another state or foreign country, the Attorney General may commence an action on behalf of the other state or country to enforce, in Illinois, the law of the other state or country against a putative holder subject to a claim by the other state or country. [ 765 ILCS 1026/15-1203(b) ]

c)The administrator may request the official authorized to enforce the unclaimed property law of another state or foreign country to commence an action to recover property in the other state or country on behalf of the administrator. Illinois may pay the costs, including reasonable attorney's fees and expenses, incurred by the other state or foreign country in an action under this subsection. [ 765 ILCS 1026/15-1203(c) ]

d)The administrator may pursue an action on behalf of Illinois to recover property subject to the Act but delivered to the custody of another state if the administrator believes the property is subject to the custody of the administrator. [ 765 ILCS 1026/15-1203(d) ]

e)At the request of the administrator, the Attorney General may commence an action to recover property on behalf of the administrator in Illinois, another state, or a foreign country. With the written consent of the Attorney General, the administrator may retain an attorney in Illinois, another state, or a foreign country as a special assistant attorney general to recover property on behalf of the administrator in Illinois, another state, or a foreign country and may agree to pay attorney's fees based in whole or in part on a fixed fee, hourly fee, or percentage of the amounts or value of property recovered in the action. [ 765 ILCS 1026/15-1203(e) ]

f) In all actions commenced pursuant to Section 15-1203 of the Act, unless otherwise given permission in writing by the Attorney General, the administrator shall be represented by the Attorney General or a special assistant attorney general appointed by the Attorney General.

g)Expenses incurred by Illinois in an action under Section 15-1203 of the Act may be paid from property received under the Act or the net proceeds of the property. Expenses paid to recover property may not be deducted from the amount that is subject to a claim under the Act by the owner. [ 765 ILCS 1026/15-1203(f) ]

Ill. Admin. Code tit. 74, § 760.970

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