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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB1039
Introduced 2/8/2007, by Sen. John J. Cullerton - Emil Jones, Jr. SYNOPSIS AS INTRODUCED:
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760 ILCS 5/2 |
from Ch. 17, par. 1652 |
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Amends the Trusts and Trustees Act. Makes a technical change in a Section
concerning definitions.
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A BILL FOR
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SB1039 |
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LRB095 05932 AJO 26024 b |
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| AN ACT concerning civil law.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Trusts and Trustees Act is amended by |
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| changing Section 2 as follows:
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| (760 ILCS 5/2) (from Ch. 17, par. 1652)
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| Sec. 2. Definitions. As used in this Act:
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| (1) "Trust" means a trust created by will, deed, agreement, |
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| declaration
or other written instrument;
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| (2) "Trustee" means the
the trustee or any successor or |
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| added trustee of the
trust, whether appointed by or pursuant to |
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| the instrument creating the
trust, by order of court or |
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| otherwise, and includes an individual and a
corporation |
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| qualified to administer trusts in this State under "An Act to
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| provide for and regulate the administration of trusts by trust |
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| companies",
approved June 15, 1887, as amended, or under "An |
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| Act authorizing foreign
corporations, including banks, and |
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| national banking associations domiciled
in other states, to act |
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| in a fiduciary capacity in this State upon certain
conditions |
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| herein set forth", approved July 13, 1953, as amended. |
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| (Source: P.A. 78-625.)
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