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Finders (Illinois Unclaimed Property)
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Illinois Unclaimed Property Finder Information
According to the Illinois Uniform Disposition of Unclaimed Property Act, a person or company attempting to collect a contingent fee for discovering abandoned property on behalf of an owner must be licensed as a private detective pursuant to the Private Detective, Private Alarm, Private Security, and Locksmith Act.
Under the Illinois Unclaimed Property Act, no person or company shall be entitled to a fee for discovering abandoned property until it has been in the custody of the state for at least 24 months. Fees for discovering property that has been in the state's custody more than 24 months shall be limited to not more than 10 percent of the value of the property.
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Added: Fri Jul 28 2006
Last Modified: Mon Jan 09 2012
