Illinois Compiled Statutes 765 ILCS 1053 Dies and Molds Ownership Transfer Act of 1997. Section 20

    (765 ILCS 1053/20)

    Sec. 20. Period for vesting rights in die, mold, form, jig, tooling, or pattern. If a customer does not take possession of the particular die, mold, form, jig, tooling, or pattern within 90 days following the date the notice was sent, or does not respond to the notice in writing, by registered mail, return receipt requested, reasserting the customer's rights, title, and interest to the die, mold, form, jig, tooling, or pattern, all rights, title, and interest of the customer to the die, mold, form, jig, tooling, or pattern shall transfer by operation of this Act to the fabricator for the purpose of destruction and the fabricator is thereafter entitled to destroy the die, mold, form, jig, tooling, or pattern.

(Source: P.A. 90-371, eff. 8-14-97.)

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Last modified: February 18, 2015