093_HB1017sam001

 










                                     LRB093 05546 DRH 16682 a

 1                    AMENDMENT TO HOUSE BILL 1017

 2        AMENDMENT NO.     .  Amend House Bill 1017  by  replacing
 3    everything after the enacting clause with the following:

 4        "Section  5.  The  Trusts  and Trustees Act is amended by
 5    adding Section 15.2 as follows:

 6        (760 ILCS 5/15.2 new)
 7        Sec. 15.2.  Trusts for domestic or pet animals.
 8        (a)  A trust for the  care  of  one  or  more  designated
 9    domestic  or  pet animals is valid. The trust terminates when
10    no living  animal  is  covered  by  the  trust.  A  governing
11    instrument shall be liberally construed to bring the transfer
12    within this Section, to presume against a merely precatory or
13    honorary  nature  of  its  disposition,  and to carry out the
14    general intent  of  the  transferor.  Extrinsic  evidence  is
15    admissible in determining the transferor's intent.
16        (b)  A  trust  for  the  care  of  one or more designated
17    domestic  or  pet  animals  is  subject  to   the   following
18    provisions:
19             (1)  Except  as  expressly provided otherwise in the
20        instrument  creating  the  trust,  no  portion   of   the
21        principal  or income of the trust may be converted to the
22        use of the trustee or to a use other than for the trust's
 
                            -2-      LRB093 05546 DRH 16682 a
 1        purposes or for the benefit of a covered animal.
 2             (2)  Upon termination, the  trustee  shall  transfer
 3        the unexpended trust property in the following order:
 4                  (A)  as directed in the trust instrument;
 5                  (B)  if there is no such direction in the trust
 6             instrument  and  if  the  trust  was  created  in  a
 7             non-residuary  clause in the transferor's will, then
 8             under the residuary clause in the transferor's will;
 9             or
10                  (C)  if no taker is produced by the application
11             of subparagraph (A) or (B), then to the transferor's
12             heirs, determined according to Section  2-1  of  the
13             Probate Act of 1975.
14             (3)  The intended use of the principal or income may
15        be  enforced by an individual designated for that purpose
16        in the trust instrument or, if  none,  by  an  individual
17        appointed  by  a  court having jurisdiction of the matter
18        and parties, upon petition to it by an individual.
19             (4)  Except as ordered by the court or  required  by
20        the  trust  instrument,  no filing, report, registration,
21        periodic  accounting,  separate  maintenance  of   funds,
22        appointment,   or  fee  is  required  by  reason  of  the
23        existence of the fiduciary relationship of the trustee.
24             (5)  The court may reduce the amount of the property
25        transferred   if   it   determines   that   the    amount
26        substantially   exceeds   the  amount  required  for  the
27        intended use. The amount of the reduction, if any, passes
28        as unexpended trust property under paragraph (2).
29             (6)  If a trustee is not designated or no designated
30        trustee is willing and able to  serve,  the  court  shall
31        name  a  trustee. The court may order the transfer of the
32        property to another trustee if the transfer is  necessary
33        to  ensure that the intended use is carried out, and if a
34        successor  trustee  is  not  designated  in   the   trust
 
                            -3-      LRB093 05546 DRH 16682 a
 1        instrument  or  if no designated successor trustee agrees
 2        to serve and is able to serve. The court  may  also  make
 3        other orders and determinations as are advisable to carry
 4        out  the intent of the transferor and the purpose of this
 5        Section.
 6             (7)  The trust is exempt from the operation  of  the
 7        common law rule against perpetuities.".