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 Bill Status of HB4702  100th General Assembly


Short Description:  UNIFORM POWERS OF APPOINTMENT

House Sponsors
Rep. Michael Halpin

Last Action
DateChamber Action
  2/21/2018HouseAssigned to Judiciary - Civil Committee

Statutes Amended In Order of Appearance
New Act
755 ILCS 5/2-7from Ch. 110 1/2, par. 2-7
755 ILCS 5/4-2 rep.
765 ILCS 320/Act rep.
765 ILCS 325/Act rep.


Synopsis As Introduced
Creates the Uniform Powers of Appointment Act. Defines terms. Adds provisions concerning: governing law, common law and principles of equity; creation of power of appointment; nontransferability; presumption of unlimited authority; rules of classification; power to revoke or amend; requisites for exercise of power of appointment; intent to exercise; donor-imposed formal requirements; permissible appointment; the selective allocation doctrine; the capture doctrine; disposition of unappointed property; appointment to taker in default; the powerholder's authority to revoke or amend exercise; disposition of trust property subject to power; disclaimer; release; power to contract; creditor claims; and other matters. Makes corresponding changes in the Probate Act of 1975. Repeals the Power of Appointment Exercise Act and the Termination of Powers Act.

Actions 
DateChamber Action
  2/8/2018HouseFiled with the Clerk by Rep. Michael Halpin
  2/13/2018HouseFirst Reading
  2/13/2018HouseReferred to Rules Committee
  2/21/2018HouseAssigned to Judiciary - Civil Committee

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