Bill Text: IL HB0707 | 2019-2020 | 101st General Assembly | Introduced

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Bill Title: Amends the Trusts and Trustees Act. Makes a technical change in a Section concerning definitions.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2019-04-12 - Rule 19(a) / Re-referred to Rules Committee [HB0707 Detail]

Download: Illinois-2019-HB0707-Introduced.html

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101ST GENERAL ASSEMBLY State of Illinois 2019 and 2020 HB0707 Introduced , by Rep. Michael J. Madigan SYNOPSIS AS INTRODUCED:
760 ILCS 5/2 from Ch. 17, par. 1652
Amends the Trusts and Trustees Act. Makes a technical change in a Section concerning definitions.
LRB101 03730 LNS 48738 b
A BILL FOR
HB0707 LRB101 03730 LNS 48738 b
AN ACT concerning civil law.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Trusts and Trustees Act is amended by
changing Section 2 as follows:
(760 ILCS 5/2) (from Ch. 17, par. 1652)
Sec. 2. Definitions. As used in this Act:
(1) "Trust" means a trust created by will, deed, agreement,
declaration or other written instrument;
(2) "Trustee" means the the trustee or any successor or
added trustee of the trust, whether appointed by or pursuant to
the instrument creating the trust, by order of court or
otherwise, and includes an individual and a corporation
qualified to administer trusts in this State under "An Act to
provide for and regulate the administration of trusts by trust
companies", approved June 15, 1887, as amended, or under "An
Act authorizing foreign corporations, including banks, and
national banking associations domiciled in other states, to act
in a fiduciary capacity in this State upon certain conditions
herein set forth", approved July 13, 1953, as amended.
(Source: P.A. 78-625.)