Bill Status of HB 5469   96th General Assembly

Short Description:  PAY ON DEATH ACT-BENEFICIARY

House Sponsors
Rep. Keith Farnham

Senate Sponsors
(Sen. Terry Link-Michael Noland)


Last Action  View All Actions

DateChamber Action
  7/21/2010HousePublic Act . . . . . . . . . 96-1151

Statutes Amended In Order of Appearance
205 ILCS 625/2from Ch. 17, par. 2132

Synopsis As Introduced
Amends the Illinois Trust and Payable on Death Accounts Act. Provides that "beneficiary" includes, but is not limited to, a natural person, corporation, charitable organization, or any other organization.

House Committee Amendment No. 1
Adds reference to:
205 ILCS 625/3from Ch. 17, par. 2133
205 ILCS 625/4from Ch. 17, par. 2134
205 ILCS 625/10 new
205 ILCS 625/15 new

Replaces everything after the enacting clause. Amends the Illinois Trust and Payable on Death Accounts Act. Defines the term "beneficiary" and changes references in provisions concerning trust account incidents and payable on death account incidents from "person" to "beneficiary". Contains provisions concerning the distribution of proceeds by an institution. Provides that specified provisions apply to all accounts subject to the Act regardless of the date of execution of the agreement controlling the account. Effective immediately.

Actions 
DateChamber Action
  2/4/2010HouseFiled with the Clerk by Rep. Keith Farnham
  2/5/2010HouseFirst Reading
  2/5/2010HouseReferred to Rules Committee
  2/16/2010HouseAssigned to Judiciary I - Civil Law Committee
  2/24/2010HouseHouse Committee Amendment No. 1 Filed with Clerk by Judiciary I - Civil Law Committee
  2/24/2010HouseHouse Committee Amendment No. 1 Adopted in Judiciary I - Civil Law Committee; by Voice Vote
  2/24/2010HouseDo Pass as Amended / Short Debate Judiciary I - Civil Law Committee; 015-000-000
  2/24/2010HousePlaced on Calendar 2nd Reading - Short Debate
  3/2/2010HouseSecond Reading - Short Debate
  3/2/2010HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3/9/2010HouseRecalled to Second Reading - Short Debate
  3/9/2010HouseHeld on Calendar Order of Second Reading - Short Debate
  3/10/2010HouseSecond Reading - Short Debate
  3/10/2010HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3/12/2010HouseThird Reading - Short Debate - Passed 110-000-000
  3/12/2010SenateArrive in Senate
  3/12/2010SenatePlaced on Calendar Order of First Reading March 15, 2010
  3/12/2010SenateChief Senate Sponsor Sen. Michael Noland
  3/12/2010SenateAlternate Chief Sponsor Changed to Sen. Terry Link
  3/12/2010SenateAdded as Alternate Chief Co-Sponsor Sen. Michael Noland
  3/15/2010SenateFirst Reading
  3/15/2010SenateReferred to Assignments
  4/6/2010SenateAssigned to Judiciary
  4/14/2010SenateDo Pass Judiciary; 009-000-000
  4/14/2010SenatePlaced on Calendar Order of 2nd Reading April 15, 2010
  4/21/2010SenateSecond Reading
  4/21/2010SenatePlaced on Calendar Order of 3rd Reading April 22, 2010
  4/27/2010SenateThird Reading - Passed; 056-000-000
  4/27/2010HousePassed Both Houses
  5/26/2010HouseSent to the Governor
  7/21/2010HouseGovernor Approved
  7/21/2010HouseEffective Date July 21, 2010
  7/21/2010HousePublic Act . . . . . . . . . 96-1151

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