Bill Status of SB 1992   103rd General Assembly


Short Description:  BANKING&PROBATE-FINANCE/NOTICE

Senate Sponsors
Sen. Meg Loughran Cappel

Last Action  View All Actions

DateChamber Action
  3/10/2023SenateRule 3-9(a) / Re-referred to Assignments

Statutes Amended In Order of Appearance
205 ILCS 5/48.1from Ch. 17, par. 360
205 ILCS 205/4013from Ch. 17, par. 7304-13
205 ILCS 305/10from Ch. 17, par. 4411
205 ILCS 625/4from Ch. 17, par. 2134
205 ILCS 705/10
755 ILCS 5/6-15from Ch. 110 1/2, par. 6-15

Synopsis As Introduced
Amends the Illinois Banking Act. In provisions concerning customer financial records and confidentiality, provides that the language does not prohibit the furnishing of financial information to the executor, executrix, administrator, or other lawful representative of the estate of a customer. Amends the Savings Bank Act. Provides that the provisions do not prohibit the furnishing of financial information to the executor, executrix, administrator, or other lawful representative of the estate of a customer. Amends the Illinois Credit Union Act. Provides that the provisions do not prohibit the furnishing of financial information to the executor, executrix, administrator, or other lawful representative of the estate of a member. Amends the Illinois Trust and Payable on Death Accounts Act. Provides that any holder of an account may elect a per stirpes distribution option to the descendants of a natural person beneficiary if the beneficiary predeceases the last surviving holder of the account. Makes other changes. Amends the Financial Institutions Electronic Documents and Digital Signature Act. In provisions concerning electronic notices, provides that consent to electronic transactions given by the customer pursuant to the federal Electronic Signatures in Global and National Commerce Act shall satisfy applicable consent requirements. Amends the Probate Act of 1975. Provides that any person doing business or performing transactions on behalf of or at the direction of an executor or administrator with a will annexed shall be entitled to the presumption that the executor or administrator with the will annexed is lawfully authorized to conduct the business or perform the transaction without such person investigating the source of the authority and without verifying that the actions of the executor or administrator with the will annexed comply with a will or any order of the probate court, unless such person has actual knowledge to the contrary.

Actions 
DateChamber Action
  2/9/2023SenateFiled with Secretary by Sen. Meg Loughran Cappel
  2/9/2023SenateFirst Reading
  2/9/2023SenateReferred to Assignments
  2/21/2023SenateAssigned to Financial Institutions
  3/8/2023SenateTo Financial Institutions Subcommitee on Special Issues
  3/10/2023SenateRule 3-9(a) / Re-referred to Assignments

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