Sen. Kirk W. Dillard
Filed: 3/14/2011
 
 

 

 

 
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1
AMENDMENT TO SENATE BILL 1294 




2    AMENDMENT NO. ______. Amend Senate Bill 1294, on page 1, by 
3replacing line 5 with "Sections 16.3 and 16.7 as follows:" and

 
4by replacing page 10, lines 12 through 25, and pages 11 through 
540 with the following:
 
6    "(760 ILCS 5/16.7 new)
7    Sec. 16.7. Application. Section 16.3 applies to all trusts 
8in existence on the effective date of  this amendatory Act of 
9the 97th General Assembly or created  after that date. Section 
1016.3 shall be construed  as pertaining to the administration of 
11a trust and shall be  available to any trust that is 
12administered in Illinois under  Illinois law or that is governed 
13by Illinois law with respect  to the meaning and effect of its 
14terms, except to the extent  the governing instrument expressly 
15prohibits that Section by specific reference to that Section. A 
16provision in the governing instrument in the form:  "The 
 
 
09700SB1294sam002- 2 -LRB097 00144 AJO 52830 a

1provisions of Section 16.3 of the  Trusts and Trustees Act and 
2any corresponding provision of  future law may not be used in 
3the administration of this trust." or a similar provision 
4demonstrating that intent is sufficient to preclude the use of 
5Section 16.3.
 

6    Section 99. Effective date. This Act takes effect upon 
7becoming law.".