SB1039 95TH GENERAL ASSEMBLY

LRB095 05932 AJO 26024 b

95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB1039

Introduced 2/8/2007, by Sen. John J. Cullerton - Emil Jones, Jr.

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.

A BILL FOR

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.)