Effective January 1, 2006, an account is not considered to be "presumed to be abandoned" for purposes of escheating to the state if the owner of the account has:
"Engaged in the following activity regarding other funds or loan accounts with the banking organization:
(1) Increased or decreased the amount of the funds, or deposit, or presented an appropriate record for the crediting of interest or dividends; or
(2) Corresponded in writing with the financial organization concerning the funds or deposit;
(3) Otherwise indicated an interest in the funds or deposit as evidenced by a memorandum on file with the financial organization; or
(i) undertook one or more the above actions described in subsection (a) of this Section regarding any account that appears on a consolidated statement with the inactive account;
(ii) increased or decreased the amount of funds in any other account the owner has with the banking organization; or
(iii) engaged in any other relationship with the banking organization, including payment of any amounts due on a loan.
The foregoing apply so long as the mailing address for the owner in the banking organization's books and records is the same for both the inactive account and for the active account."
765 ILCS 1025/2(a).
Bruce Jay Baker, Executive Vice President & General Counsel, Illinois Bankers Association
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