IL SB2748

Creates the Charitable Organization Beneficiary Act requiring holders of nonprobate property (such as insurance policies, retirement accounts, and payable-on-death accounts) to notify 501(c)(3) charitable organizations within 30 business days when they are named beneficiaries and the property owner has died.

Establishes a formal affidavit process for charitable organizations to claim property or request information, requiring documentation including IRS determination letter, Certificate of Good Standing, proof of death, and Form W-9.

Prohibits property holders from requiring charitable organizations to open accounts, submit claims simultaneously with co-beneficiaries, or provide personal information about employees or board members (such as Social Security numbers, home addresses, or financial data).

Provides liability protection for property holders who act in good faith reliance on affidavit information, with a 30-day maximum verification period.

Allows charitable organizations to sue property holders who fail to comply within 30 days, with potential remedies including property recovery, damages, court costs, penalties of $500-$10,000, and reasonable attorney's fees.