99TH GENERAL ASSEMBLY State of Illinois 2015 and 2016 HB1243

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.

LRB099 05092 HEP 25121 b

A BILL FOR

HB1243

LRB099 05092 HEP 25121 b

1 AN ACT concerning civil law.

2 Be it enacted by the People of the State of Illinois,

3 represented in the General Assembly:

4 Section 5. The Trusts and Trustees Act is amended by

5 changing 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,

9 declaration or other written instrument;

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

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.)