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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 |
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Amends the Trusts and Trustees Act. Makes a technical change in a Section
concerning definitions.
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| | A BILL FOR |
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| | HB0707 | | LRB101 03730 LNS 48738 b |
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| 1 | | AN ACT concerning civil law.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Trusts and Trustees Act is amended by |
| 5 | | changing Section 2 as follows:
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| 6 | | (760 ILCS 5/2) (from Ch. 17, par. 1652)
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| 7 | | Sec. 2. Definitions. As used in this Act:
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| 8 | | (1) "Trust" means a trust created by will, deed, agreement, |
| 9 | | declaration
or other written instrument;
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| 10 | | (2) "Trustee" means the
the trustee or any successor or |
| 11 | | added trustee of the
trust, whether appointed by or pursuant to |
| 12 | | the instrument creating the
trust, by order of court or |
| 13 | | otherwise, and includes an individual and a
corporation |
| 14 | | qualified to administer trusts in this State under "An Act to
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| 15 | | provide for and regulate the administration of trusts by trust |
| 16 | | companies",
approved June 15, 1887, as amended, or under "An |
| 17 | | Act authorizing foreign
corporations, including banks, and |
| 18 | | national banking associations domiciled
in other states, to act |
| 19 | | in a fiduciary capacity in this State upon certain
conditions |
| 20 | | herein set forth", approved July 13, 1953, as amended. |
| 21 | | (Source: P.A. 78-625.)
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