Ill. Admin. Code tit. 74 § 760.660

Current through Register Vol. 48, No. 45, November 8, 2024

Section 760.660 - Property Subject to Recovery by Another State

a) If the administrator is aware that property held under the Act is subject to a superior claim of another state, the administrator shall either report and deliver the property to the other state or return the property to the holder for delivery to the other state.

b) A claim by another state to recover property under this Section must be presented in a form prescribed by the administrator, unless the administrator waives presentation of the form.

c) The administrator shall decide a claim under this Section not later than 90 days after it is presented.

d) To the extent permitted under the law of the other state, the administrator may require another state to agree to indemnify the administrator and the State of Illinois and its agents, officers and employees against any liability on a claim to the property.

Ill. Admin. Code tit. 74, § 760.660

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