Illinois General Assembly - Illinois Compiled Statutes

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205 ILCS 620/4A-1

(205 ILCS 620/4A-1)

Sec. 4A-1.

Corporate fiduciaries establishing offices in other states.

(a) A corporate fiduciary may act as a fiduciary or otherwise engage in
fiduciary activities in this or any other state or foreign country, subject
to complying with applicable laws of that state or foreign country, at an
office established and maintained pursuant to this Act, at a branch, or at
any location other than an office or branch.  A corporate fiduciary seeking
to establish or acquire a branch in another state or foreign country must
comply with the notice provisions in Section 1-7 of this Act.

(b) A corporate fiduciary may also conduct any activities at any office
outside Illinois that are permissible for a trust institution chartered by
the state where the office is located, except to the extent those
activities
are expressly prohibited by the laws of Illinois or by any regulation or order
of the Commissioner.  However, the Commissioner may waive any such
prohibition if he determines, by order or regulation, that the involvement
of out-of-state offices of state corporate fiduciaries in particular activities
would not threaten the safety or soundness of those state corporate
fiduciaries.

(Source: P.A. 92-483, eff. 8-23-01.)