IL SB3515

Excludes funds held in trust under the Illinois Pre-Need Cemetery Sales Act from the definition of "property" under the Revised Uniform Unclaimed Property Act.

Establishes that trust funds for undelivered cemetery merchandise and unprovided services are presumptively abandoned 3 years after either the beneficiary's death (with no interest indicated) or after the trustee notifies the seller that the purchaser's contact information is invalid (with no interest indicated for 3 years).

Requires sellers to notify trustees within 30 days when trust funds become presumptively abandoned.

Mandates trustees remit presumptively abandoned funds to the Comptroller semi-annually (within 30 days after June 30 and December 31) for deposit into the Cemetery Consumer Protection Fund.

Adds notification requirements for trustees to inform sellers when contact information is invalid or the purchaser is deceased.