Illinois General Assembly - Bill Status for SB3421
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 Bill Status of SB3421  103rd General Assembly


Short Description:  POWER OF ATTY HONORING FORMS

Senate Sponsors
Sen. Ann Gillespie

House Sponsors
(Rep. )

Last Action
DateChamber Action
  4/9/2024HouseArrived in House

Statutes Amended In Order of Appearance
755 ILCS 45/2-8from Ch. 110 1/2, par. 802-8


Synopsis As Introduced
Amends the Illinois Power of Attorney Act. Makes it unlawful for a third party to unreasonably refuse to honor a statutory short form power of attorney properly executed in accordance with the laws in effect at the time of its execution. Provides that it is unreasonable for a third party to refuse to honor a statutory short form power of attorney properly executed in accordance with the laws in effect at the time of its execution, if the only reason for the refusal is any of the following: (1) the power of attorney is not on a form the third party receiving such power prescribes regardless of any form the terms of any account agreement between the account holder and third party requires; (2) there has been a lapse of time since the execution of the power of attorney; (3) on the face of the statutory short form power of attorney, there is a lapse of time between the date of acknowledgment of the signature of the principal and the date of the acceptance by the agent; (4) the document provided does not bear an original signature, original witness, or original notarization but is accompanied by an attorney-certified copy; or (5) the document appoints an entity as the agent.

Senate Committee Amendment No. 2
Replaces everything after the enacting clause with the following. Amends the Illinois Power of Attorney Act. Provides that it is unreasonable for a third party to refuse to honor an Illinois statutory short form power of attorney properly executed in accordance with the laws in effect at the time of its execution, if the only reason for the refusal is any of the following: (1) the power of attorney is not on a form required by the terms of any account agreement between the account holder and third party; (2) there has been a lapse of time since the execution of the power of attorney; (3) on the face of the statutory short form power of attorney, there is a lapse of time between the date of acknowledgment of the signature of the principal and the date of the acceptance by the agent; (4) the document provided does not bear an original signature, original witness, or original notarization but is accompanied by a properly executed Agent's Certification and Acceptance of Authority, Successor Agent's Certification and Acceptance of Authority, or Co-Agent's Certification and Acceptance of Authority bearing the original signature of the named agent; or (5) the document appoints an entity as the agent. Nothing in this Section shall be interpreted as prohibiting or limiting a third party from requiring the named agent to furnish a properly executed Agent's Certification and Acceptance of Authority, Successor Agent's Certification and Acceptance of Authority, or Co-Agent's Certification and Acceptance of Authority. Provides multiple reasons for which it shall be deemed reasonable cause for a third party to refuse to honor a power of attorney for property.

Actions 
DateChamber Action
  2/8/2024SenateFiled with Secretary by Sen. Ann Gillespie
  2/8/2024SenateFirst Reading
  2/8/2024SenateReferred to Assignments
  2/20/2024SenateAssigned to Judiciary
  2/28/2024SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Ann Gillespie
  2/28/2024SenateSenate Committee Amendment No. 1 Referred to Assignments
  3/1/2024SenateSenate Committee Amendment No. 2 Filed with Secretary by Sen. Ann Gillespie
  3/1/2024SenateSenate Committee Amendment No. 2 Referred to Assignments
  3/5/2024SenateSenate Committee Amendment No. 1 Pursuant to Senate Rule 3-8 (b-1) this amendment will stay in Assignments
  3/5/2024SenateSenate Committee Amendment No. 2 Assignments Refers to Judiciary
  3/5/2024SenateSenate Committee Amendment No. 2 Adopted
  3/6/2024SenateDo Pass as Amended Judiciary; 008-000-000
  3/6/2024SenatePlaced on Calendar Order of 2nd Reading March 7, 2024
  3/14/2024SenateSecond Reading
  3/14/2024SenatePlaced on Calendar Order of 3rd Reading March 20, 2024
  4/9/2024SenateSenate Committee Amendment No. 1 Tabled Pursuant to Rule 5-4 (a)
  4/9/2024SenateThird Reading - Passed; 055-000-000
  4/9/2024HouseArrived in House

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