Rep. Emily McAsey
Filed: 3/22/2013
 
 


 




09800HB0199ham002LRB098 00014 HEP 43765 a



1
AMENDMENT TO HOUSE BILL 199




2 AMENDMENT NO. ______. Amend House Bill 199 on page 21, by 
3replacing line 6 with the following:
4"with subsection (b) 5.3(b) of the total return trust 
5provisions of"; and

6on page 21, by replacing lines 18 through 21 with the 
7following:
8 "(c) Representation of charity. If a trust provides a 
9beneficial interest or expectancy"; and


10on page 22, by replacing lines 4 through 7 with the following:
11"accordance with subsection (b) 5.3(b) of the total return 
12trust provisions of Section 5.3 of this Act. A charity that is 
13specifically named as beneficiary of a trust or that otherwise 
14has an express beneficial interest in a trust may act for 
15itself. This subsection (c) shall be construed as being 
16declarative of existing law and not as a new enactment. 
 
 
09800HB0199ham002- 2 -LRB098 00014 HEP 43765 a


1Notwithstanding any other provision,"; and

2on page 22, line 14, after "trust.", by inserting the 
3following:
4"This subsection (c) shall be construed as being declarative of 
5existing law and not as a new enactment."; and

6on page 25, immediately below line 17, by inserting the 
7following:
8  "(4.5) If a charitable interest or a specifically named 
9 charity is a current beneficiary, is a presumptive 
10 remainder beneficiary, or has any vested interest in a 
11 trust, the parties to any proposed nonjudicial settlement 
12 agreement affecting the trust shall deliver to the Attorney 
13 General's Charitable Trust Bureau written notice of the 
14 proposed agreement at least 60 days prior to its effective 
15 date. The Bureau need take no action, but if it objects in 
16 a writing delivered to one or more of the parties prior to 
17 the proposed effective date, the agreement shall not take 
18 effect unless the parties obtain court approval.".