December 11, 2017
The Illinois Revised Uniform Unclaimed Property Act (765 ILCS 1026; the “Act”) requires the remittance of presumptively abandoned securities to the Illinois State Treasurer’s Office (the “Treasurer”). In order to process and maintain accounts for this type of property, the Treasurer issues this Request for Proposal (the “RFP”) for a custodial and brokerage firm (the “Contractor”) to assist in this task. The responsibilities of the Contractor shall include, but are not limited to, safekeeping, receipt, research, delivery, liquidation, tracking all payments of income and corporate actions, and selling presumptively abandoned securities remitted to the Treasurer. Proceeds from securities liquidated by the Contractor will be held for the reported owner of the security by the Treasurer.
The Contractor shall enter into a contract with the Treasurer (the “Agreement”) for an initial term of four (4) years, with an estimated start date of no later than April 1, 2018. Upon expiration of this term, the Treasurer may elect to extend the Agreement for a period of time agreed upon by the parties, not to exceed a total of ten (10) years, including the initial four (4) years.
RESPONSES DUE 01/24/2018
STATE TREASURERS OUTLINE INFRASTRUCTURE PRINCIPLES IN RESPONSE TO PRESIDENT TRUMP’S $1.5T PROPOSAL https://t.co/0YaZMKUsrG