Fabio
105 lines
7.0 KiB
Markdown
105 lines
7.0 KiB
Markdown
---
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type: "Bill"
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title: "UNCLAIMED PROP-DEMUTUALIZATION"
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description: "Amends the Uniform Disposition of Unclaimed Property Act. Provides that funds and stock distributable in the course of a demutualization, rehabilitation, or related reorganization of an insurance company shall be deemed abandoned in the listed time frames. Provides that funds and stock deemed abandoned in the course of a demutualization, rehabilitation, or related reorganization of an insurance company shall be held in the Demutualization Trust Fund. Provides that the State Treasurer shall set a date that the required report and remittance of the funds and stock deemed abandoned in the course of a demutualization, rehabilitation, or related reorganization of an insurance company shall be filed. Provides that the names of owners that are identified and contacted directly by the State Treasurer do not have to be published as required under the notice requirements. Amends the State Finance Act. Creates the Demutualization Trust Fund. Exempts the Demutualization Trust Fund from transfers to the General Revenue Fund. Effective immediately."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "94th"
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identifier: "HB 1391"
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citation: "Illinois HB 1391 (94th)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: []
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version_count: 3
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action_count: 43
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vote_count: 4
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first_action: "2005-02-09"
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last_action: "2005-11-09"
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source: "openstates"
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source_identifier: "ocd-bill/b4d6bf30-97eb-41b5-82ff-37394aa93b5f"
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source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=1391&GAID=8&DocTypeID=HB&LegId=16168&SessionID=50&GA=94"
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source_hash: "7718bf14de16e895a2ef8e3aad028d21e74ee0d83211204f7d6fb63785193eeb"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-il"]
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---
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# Illinois HB 1391 (94th) — UNCLAIMED PROP-DEMUTUALIZATION
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Amends the Uniform Disposition of Unclaimed Property Act. Provides that funds and stock distributable in the course of a demutualization, rehabilitation, or related reorganization of an insurance company shall be deemed abandoned in the listed time frames. Provides that funds and stock deemed abandoned in the course of a demutualization, rehabilitation, or related reorganization of an insurance company shall be held in the Demutualization Trust Fund. Provides that the State Treasurer shall set a date that the required report and remittance of the funds and stock deemed abandoned in the course of a demutualization, rehabilitation, or related reorganization of an insurance company shall be filed. Provides that the names of owners that are identified and contacted directly by the State Treasurer do not have to be published as required under the notice requirements. Amends the State Finance Act. Creates the Demutualization Trust Fund. Exempts the Demutualization Trust Fund from transfers to the General Revenue Fund. Effective immediately.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09400HB1391&GA=94&SessionId=50&DocTypeId=HB&LegID=16168&DocNum=1391&GAID=8&Session=&print=true)
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2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09400HB1391eng&GA=94&SessionId=50&DocTypeId=HB&LegID=16168&DocNum=1391&GAID=8&Session=&print=true)
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3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09400HB1391enr&GA=94&SessionId=50&DocTypeId=HB&LegID=16168&DocNum=1391&GAID=8&Session=&print=true)
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## Votes
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- Motion — **115–1** (fail) · lower
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- Third Reading — **113–0** (pass) · lower
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- Third Reading — **56–0** (pass) · upper
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- Motion — **58–0** (pass) · upper
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## Sponsors
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- Daniel J. Burke — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2005-02-09** Filed with the Clerk by Rep. Daniel J. Burke `filing`
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- **2005-02-09** Chief Co-Sponsor Rep. Angelo Saviano
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- **2005-02-09** First Reading `reading-1`
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- **2005-02-09** Referred to Rules Committee `referral-committee`
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- **2005-02-10** Added Chief Co-Sponsor Rep. William B. Black
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- **2005-02-16** Assigned to Executive Committee `referral-committee`
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- **2005-03-01** Motion to Suspend Rule 25 - Prevailed by Voice Vote
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- **2005-03-02** Do Pass / Short Debate Executive Committee; 013-000-000 `committee-passage`
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- **2005-03-03** Placed on Calendar 2nd Reading - Short Debate
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- **2005-03-09** House Floor Amendment No. 1 Filed with Clerk by Rep. Daniel J. Burke `amendment-introduction`
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- **2005-03-09** House Floor Amendment No. 1 Referred to Rules Committee `referral-committee`
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- **2005-03-15** House Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 005-000-000 `committee-passage-favorable`
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- **2005-04-05** Second Reading - Short Debate `reading-2`
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- **2005-04-05** House Floor Amendment No. 1 Adopted by Voice Vote `amendment-passage`
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- **2005-04-05** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2005-04-06** Third Reading - Short Debate - Passed 113-000-000 `reading-3, passage`
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- **2005-04-07** Arrive in Senate `introduction`
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- **2005-04-07** Placed on Calendar Order of First Reading April 8, 2005 `reading-1`
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- **2005-04-07** Chief Senate Sponsor Sen. Terry Link
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- **2005-04-11** First Reading `reading-1`
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- **2005-04-11** Referred to Rules `referral-committee`
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- **2005-04-13** Assigned to Financial Institutions `referral-committee`
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- **2005-04-14** Added as Alternate Chief Co-Sponsor Sen. Dan Rutherford
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- **2005-04-21** Postponed - Financial Institutions
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- **2005-05-05** Do Pass Financial Institutions; 008-000-000 `committee-passage`
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- **2005-05-05** Placed on Calendar Order of 2nd Reading May 10, 2005
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- **2005-05-11** Second Reading `reading-2`
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- **2005-05-11** Placed on Calendar Order of 3rd Reading May 12, 2005
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- **2005-05-12** Third Reading - Passed; 056-000-000 `reading-3, passage`
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- **2005-05-12** Passed Both Houses
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- **2005-06-10** Sent to the Governor `executive-receipt`
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- **2005-08-09** Governor Amendatory Veto `executive-veto`
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- **2005-08-10** Placed on Calendar Amendatory Veto October 25, 2005
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- **2005-10-26** Motion Filed Override Amendatory Veto Rep. Daniel J. Burke
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- **2005-10-27** 3/5 Vote Required
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- **2005-10-27** Override Amendatory Veto - House Passed 115-001-000
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- **2005-11-02** Placed on Calendar Amendatory Veto November 3, 2005
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- **2005-11-02** Motion Filed Override Amendatory Veto Sen. Terry Link
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- **2005-11-02** 3/5 Vote Required
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- **2005-11-02** Override Amendatory Veto - Senate Passed 058-000-000
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- **2005-11-02** Amendatory Veto Overridden Both Houses
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- **2005-11-09** Effective Date November 2, 2005
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- **2005-11-09** Public Act . . . . . . . . . 94-0686 `became-law`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/b4d6bf30-97eb-41b5-82ff-37394aa93b5f`. Confidence: reported (aggregated from official Illinois legislature records).
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