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

 

HB0707LRB101 03730 LNS 48738 b

1    AN ACT concerning civil law.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Trusts and Trustees Act is amended by
5changing Section 2 as follows:
 
6    (760 ILCS 5/2)  (from Ch. 17, par. 1652)
7    Sec. 2. Definitions. As used in this Act:
8    (1) "Trust" means a trust created by will, deed, agreement,
9declaration or other written instrument;
10    (2) "Trustee" means the the trustee or any successor or
11added trustee of the trust, whether appointed by or pursuant to
12the instrument creating the trust, by order of court or
13otherwise, and includes an individual and a corporation
14qualified to administer trusts in this State under "An Act to
15provide for and regulate the administration of trusts by trust
16companies", approved June 15, 1887, as amended, or under "An
17Act authorizing foreign corporations, including banks, and
18national banking associations domiciled in other states, to act
19in a fiduciary capacity in this State upon certain conditions
20herein set forth", approved July 13, 1953, as amended.
21(Source: P.A. 78-625.)