Illinois General Assembly - Bill Status for HB5053
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 Bill Status of HB5053  102nd General Assembly


Short Description:  UNIFORM PRUDENT MGMT INST FUND

House Sponsors
Rep. James D. Brosnahan

Last Action
DateChamber Action
  1/13/2009HouseSession Sine Die

Statutes Amended In Order of Appearance
New Act
760 ILCS 50/Act rep.
805 ILCS 110/41from Ch. 32, par. 170
805 ILCS 110/43from Ch. 32, par. 172
805 ILCS 110/46efrom Ch. 32, par. 180
805 ILCS 110/46ffrom Ch. 32, par. 181
805 ILCS 110/46gfrom Ch. 32, par. 182
805 ILCS 110/46jfrom Ch. 32, par. 185


Synopsis As Introduced
Creates the Uniform Prudent Management of Institutional Funds Act, proposed by the National Conference of Commissioners on Uniform State Laws. Provides for: standards of conduct in managing and investing an institutional fund held by a charitable institution for charitable purposes; appropriations by an institution for expenditure or accumulation of endowment funds; the delegation of management and investment functions; the release or modification of restrictions on the management, investment, or purpose of an institutional fund; compliance; application; construction; and other matters. Repeals the Uniform Management of Institutional Funds Act. Amends the Religious Corporation Act by making conforming changes.

Actions 
DateChamber Action
  2/13/2008HouseFiled with the Clerk by Rep. James D. Brosnahan
  2/13/2008HouseFirst Reading
  2/13/2008HouseReferred to Rules Committee
  1/13/2009HouseSession Sine Die

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