Illinois General Assembly - Bill Status for HB2403

Synopsis As Introduced
Amends the Principal and Income Act. Provides that if, in the judgment of the trustee, the charging of the required part of the compensation due to the trustee, attorney, investment counsel, custodian, or accountant is (i) impractical because of the lack of sufficient income cash or principal cash and readily marketable intangible property or (ii) inadvisable because of the nature of the asset, then the trustee may pay the compensation out of the principal or income as the trustee sees fit. Provides that the decision to pay compensation out of the income or principal is conclusive and neither the income nor the principal is entitled to reimbursement. Makes other changes. Effective immediately.

Actions

Date	Chamber	Action
2/16/2005	House	Filed with the Clerk by Rep. Mark H. Beaubien, Jr.
2/17/2005	House	First Reading
2/17/2005	House	Referred to Rules Committee
2/23/2005	House	Assigned to Executive Committee
3/10/2005	House	Rule 19(a) / Re-referred to Rules Committee
4/12/2005	House	Motion Filed Rep. Mark H. Beaubien, Jr.; Table House Bill 2403 Pursuant to Rule 60(b)
4/13/2005	House	Motion Prevailed
4/13/2005	House	Tabled By Sponsor Rep. Mark H. Beaubien, Jr.

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