770 ILCS 90/ Sale of Unclaimed Property Act.
(770 ILCS 90/0.01) (from Ch. 141, par. 0.01) Sec. 0.01. Short title. This Act may be cited as the Sale of Unclaimed Property Act. (Source: P.A. 86‑1324.) |
(770 ILCS 90/1) (from Ch. 141, par. 1) Sec. 1. Except as provided in the Uniform Commercial Code in sections 7‑209, 7‑210, 7‑307 and 7‑308 regarding the lien and foreclosure provisions for warehousemen and carriers and except as provided in the Self‑Service Storage Facility Act, enacted by the Eighty‑Third General Assembly, whenever any trunk, carpet‑bag, valise, bundle, package, or article of property, transported, or coming into the possession of any railroad or express company, or any other common carrier, or innkeeper or warehouseman, or private warehouse‑keeper, in the course of its or his business as common carrier, innkeeper, warehouseman or private warehouse‑keeper remains unclaimed and the legal charges thereon unpaid during the space of 6 months after its arrival at the point to which it shall have been directed, and the owner or person to whom the same is consigned cannot be found upon diligent inquiry, or, being found and notified of the arrival of such article, refuses or neglects to receive the same and pay the legal charges thereon for the space of 3 months, it shall be lawful for such common carrier, innkeeper, warehouseman or private warehouse‑keeper to sell such article at public auction, after giving the owner or consignee 15 days' notice of the time and place of sale, through the post office, and by advertising in a newspaper published in the county where such sale is made, and out of the proceeds of such sale to pay all legal charges on such articles, and the overplus, if any, shall be paid to the owner or the consignee upon demand. (Source: P.A. 83‑800.) |
(770 ILCS 90/2) (from Ch. 141, par. 2) Sec. 2. Perishable property which has been transported to destination, and the owner, or consignee, notified of its arrival, or being notified, refuses or neglects to receive the same and pay the legal charges thereon, or if upon diligent inquiry the consignee cannot be found, such carrier may, in the exercise of a reasonable discretion, sell the same at public or private sale without advertising, and the proceeds, after deducting the freight and charges and expenses of sale, shall be paid to the owner or consignee upon demand. (Source: R.S. 1874, p. 1086.) |
(770 ILCS 90/3) (from Ch. 141, par. 3) Sec. 3. All persons other than common carriers having a lien on personal property, by virtue of the Innkeepers Lien Act or for more than $2,000 by virtue of the Labor and Storage Lien Act may enforce the lien by a sale of the property, on giving to the owner thereof, if he and his residence be known to the person having such lien, 30 days' notice by certified mail, in writing of the time and place of such sale, and if the owner or his place of residence be unknown to the person having such lien, then upon his filing his affidavit to that effect with the clerk of the circuit court in the county where such property is situated; notice of the sale may be given by publishing the same once in each week for 3 successive weeks in some newspaper of general circulation published in the county, and out of the proceeds of the sale all costs and charges for advertising and making the same, and the amount of the lien shall be paid, and the surplus, if any, shall be paid to the owner of the property or, if not claimed by said owner, such surplus, if any, shall be disposed under the Uniform Disposition of Unclaimed Property Act. All sales pursuant to this Section must be public and conducted in a commercially reasonable manner so as to maximize the net proceeds of the sale. Conformity to the requirements of this Act shall be a perpetual bar to any action against such lienor by any person for the recovery of such chattels or the value thereof or any damages growing out of the failure of such person to receive such chattels. (Source: P.A. 87‑206.) |