(765 ILCS 1055/1) (from Ch. 140, par. 201) Sec. 1. This Act shall be known and may be cited as the "Plastics Dies and Molds Ownership Transfer Act." (Source: P.A. 82-206.)

(765 ILCS 1055/2) (from Ch. 140, par. 202) Sec. 2. As used in this Act, (a) "Customer" means any individual or entity who causes or caused a molder to fabricate, cast, or otherwise make a die, mold, or form to be used for the manufacture of plastic products. (b) "Molder" means any individual or entity, including, but not limited to, a tool or die maker, who fabricates, casts, or otherwise makes a die, mold, or form to be used for the manufacture of plastic products. (Source: P.A. 82-206.)

(765 ILCS 1055/3) (from Ch. 140, par. 203) Sec. 3. In the absence of any agreement to the contrary, the customer shall have all rights and title to any die, mold, or form in the possession of the molder. (Source: P.A. 82-206.)

(765 ILCS 1055/4) (from Ch. 140, par. 204) Sec. 4. If a customer does not claim possession from a molder of a die, mold, or form within three years following the last prior use thereof, all rights and title to any die, mold, or form may be transferred by operation of law to the molder for the purpose of destroying such die, mold, or form, consistent with this Section. (Source: P.A. 82-206.)

(765 ILCS 1055/5) (from Ch. 140, par. 205) Sec. 5. If a molder chooses to have all rights and title to any die, mold, or form transferred to the molder by operation of law, the molder shall send written notice by registered mail to the last known address of the chief executive officer of the customer indicating that the molder intends to terminate the customer's rights and title by having all rights and title transferred to the molder by operation of law pursuant to this Section. (Source: P.A. 82-206.)

(765 ILCS 1055/6) (from Ch. 140, par. 206) Sec. 6. If a customer does not claim possession of the particular die, mold, or form within 120 days following the date the notice was sent, or does not make other contractual arrangements with the molder for storage thereof, all rights and title of the customer shall transfer by operation of law to the molder. Thereafter, the molder must destroy the particular mold, die, or form as the molder's own property without any risk of liability to the customer, except that this Section shall not be construed in any manner to affect any right of the customer, under federal patent or copyright law or any state or federal law pertaining to unfair competition. (Source: P.A. 82-206.)

(765 ILCS 1055/7) (from Ch. 140, par. 207) Sec. 7. The three-year waiting period set forth in Section 4 shall apply retroactively in the case of dies, molds, and forms in the possession of a molder upon the effective date of this Act. (Source: P.A. 82-206.)