Full Text of SB2015 97th General Assembly
SB2015ham001 97TH GENERAL ASSEMBLY | Rep. Angelo Saviano Filed: 5/19/2011
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| 1 | | AMENDMENT TO SENATE BILL 2015
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 2015 on page 1, | 3 | | immediately below line 3, by inserting the following:
| 4 | | "Section 3. The Illinois Power of Attorney Act is amended | 5 | | by changing Sections 2-3, 2-4, 2-5, and 3-3 as follows:
| 6 | | (755 ILCS 45/2-3) (from Ch. 110 1/2, par. 802-3)
| 7 | | (Text of Section before amendment by P.A. 96-1195 )
| 8 | | Sec. 2-3. Definitions. As used in this Act:
| 9 | | (a) "Agency" means the written power of attorney or other | 10 | | instrument of
agency governing the relationship between the | 11 | | principal and agent or the
relationship, itself, as appropriate | 12 | | to the context, and includes agencies
dealing with personal or | 13 | | health care as well as property. An agency is
subject to this | 14 | | Act to the extent it may be controlled by the principal,
| 15 | | excluding agencies and powers for the benefit of the agent.
| 16 | | (b) "Agent" means the attorney-in-fact or other person |
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| 1 | | designated to act
for the principal in the agency.
| 2 | | (c) "Disabled person" has the same meaning as in the | 3 | | "Probate Act of
1975", as now or hereafter amended. To be under | 4 | | a "disability" or
"disabled" means to be a disabled person.
| 5 | | (d) "Person" means an individual, corporation, trust, | 6 | | partnership or
other entity, as appropriate to the agency.
| 7 | | (e) "Principal" means an individual (including, without | 8 | | limitation, an
individual acting as trustee, representative or | 9 | | other fiduciary) who signs
a power of attorney or other | 10 | | instrument of agency granting powers to an agent.
| 11 | | (Source: P.A. 85-701.)
| 12 | | (Text of Section after amendment by P.A. 96-1195 )
| 13 | | Sec. 2-3. Definitions. As used in this Act:
| 14 | | (a) "Agency" means the written power of attorney or other | 15 | | instrument of
agency governing the relationship between the | 16 | | principal and agent or the
relationship, itself, as appropriate | 17 | | to the context, and includes agencies
dealing with personal or | 18 | | health care as well as property. An agency is
subject to this | 19 | | Act to the extent it may be controlled by the principal,
| 20 | | excluding agencies and powers for the benefit of the agent.
| 21 | | (b) "Agent" means the attorney-in-fact or other person | 22 | | designated to act
for the principal in the agency.
| 23 | | (b-5) "Banking organization" has the meaning ascribed to it | 24 | | in the Uniform Disposition of Unclaimed Property Act. | 25 | | (c) "Disabled person" has the same meaning as in the |
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| 1 | | "Probate Act of
1975", as now or hereafter amended. To be under | 2 | | a "disability" or
"disabled" means to be a disabled person.
| 3 | | (c-2) "Excluded Power of Attorney" means any one of the | 4 | | following agency designations: | 5 | | (1) A power of attorney given to a banking organization | 6 | | or a financial organization primarily for a business or | 7 | | commercial purpose. | 8 | | (2) A power of attorney given to a banking organization | 9 | | or a financial organization to the extent it is coupled | 10 | | with an interest in the subject of the power. | 11 | | (3) A power of attorney given to or for the benefit of | 12 | | a creditor in connection with a loan or other credit | 13 | | transaction or a secured party in connection with a secured | 14 | | transaction. | 15 | | (4) A proxy or other delegation to exercise voting | 16 | | rights or management rights with respect to a corporation, | 17 | | partnership (general or limited), limited liability | 18 | | company, condominium, commercial entity, or association. | 19 | | (5) A power of attorney created on a form prescribed by | 20 | | a government or governmental subdivision, agency, or | 21 | | instrumentality for a governmental purpose. | 22 | | (6) A power of attorney given to a banking organization | 23 | | or a financial organization to facilitate a specific | 24 | | transfer or disposition of one or more identified stocks, | 25 | | bonds, or other assets, whether real or personal, tangible | 26 | | or intangible. |
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| 1 | | (7) A power of attorney authorizing a third party to | 2 | | prepare, execute, deliver, submit or file a document or | 3 | | instrument with a government or governmental subdivision, | 4 | | agency, or instrumentality, or other third party. | 5 | | (8) A power of attorney authorizing a banking | 6 | | organization or a financial organization or an employee of | 7 | | a banking organization or a financial organization to take | 8 | | action in relation to an account in which the financial | 9 | | institution (i) holds cash, securities, commodities, or | 10 | | other financial assets on behalf of the principal, or (ii) | 11 | | acts as an investment manager with a third-party serving as | 12 | | the custodian of such cash, securities, commodities, or | 13 | | other financial assets on behalf of the principal. | 14 | | (9) A power of attorney given by an individual who is, | 15 | | or is seeking to become, a director, officer, stockholder, | 16 | | employee, partner (general or limited), member, unit | 17 | | owner, equity owner, trustee, manager, or agent of a | 18 | | corporation, a partnership (general or limited), a limited | 19 | | liability company, a condominium, a legal or commercial | 20 | | entity, or an association, in that individual's capacity as | 21 | | such, including a power of attorney contained in a | 22 | | subscription agreement. | 23 | | (10) A power of attorney contained in a certificate of | 24 | | incorporation, bylaws, general or limited partnership | 25 | | agreement, limited liability company agreement, | 26 | | declaration of trust, declaration of condominium, |
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| 1 | | condominium offering plan, or other agreement or | 2 | | instrument governing the internal affairs of an entity or | 3 | | association, authorizing a director, officer, shareholder, | 4 | | employee, partner (general or limited), member, unit | 5 | | owner, equity owner, trustee, manager or other person to | 6 | | take lawful actions relating to such entity or association. | 7 | | (11) A power of attorney given to a licensed real | 8 | | estate broker to take action in connection with a listing | 9 | | of real property, mortgage loan, lease, or management | 10 | | agreement. | 11 | | (12) A power of attorney given to a condominium | 12 | | managing agent to take action in connection with the use, | 13 | | management, and operation of a condominium unit. | 14 | | (13) A power of attorney authorizing the acceptance of | 15 | | the service of process on behalf of the principal. | 16 | | (14) A power of attorney created pursuant to | 17 | | authorization provided by a federal or State statute, other | 18 | | than this Act, that specifically contemplates creation of | 19 | | the power. | 20 | | (c-3) "Financial organization" has the meaning ascribed to | 21 | | it in the Uniform Disposition of Unclaimed Property Act. | 22 | | (c-5) "Incapacitated", when used to describe a principal, | 23 | | means that the principal is under a legal disability as defined | 24 | | in Section 11a-2 of the Probate Act of 1975. A principal shall | 25 | | also be considered incapacitated if: (i) a physician licensed | 26 | | to practice medicine in all of its branches has examined the |
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| 1 | | principal and has determined that the principal lacks decision | 2 | | making capacity; (ii) that physician has made a written record | 3 | | of this determination and has signed the written record within | 4 | | 90 days after the examination; and (iii) the written record has | 5 | | been delivered to the agent. The agent may rely conclusively on | 6 | | the written record. | 7 | | (d) "Person" means an individual, corporation, trust, | 8 | | partnership or
other entity, as appropriate to the agency.
| 9 | | (e) "Principal" means an individual (including, without | 10 | | limitation, an
individual acting as trustee, representative or | 11 | | other fiduciary) who signs
a power of attorney or other | 12 | | instrument of agency granting powers to an agent.
| 13 | | (Source: P.A. 96-1195, eff. 7-1-11.)
| 14 | | (755 ILCS 45/2-4) (from Ch. 110 1/2, par. 802-4)
| 15 | | Sec. 2-4. Applicability. (a) The principal may specify in | 16 | | the agency
the event or time when the agency will begin and | 17 | | terminate, the mode of
revocation or amendment and the rights, | 18 | | powers, duties, limitations,
immunities and other terms | 19 | | applicable to the agent and to all persons
dealing with the | 20 | | agent, and the provisions of the agency will control
| 21 | | notwithstanding this Act, except that every health care agency | 22 | | must
comply with Section 4-5 of this Act.
| 23 | | (b) From and after the effective date of this Act: (1) this | 24 | | Act governs
every agency, whenever and wherever executed, and | 25 | | all acts of the agent to
the extent the provisions of this Act |
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| 1 | | are not inconsistent with the agency;
and (2) this Act applies | 2 | | to all agencies exercised in Illinois and to all
other agencies | 3 | | if the principal is a resident of Illinois at the time the
| 4 | | agency is signed or at the time of exercise or if the agency | 5 | | indicates that
Illinois law is to apply. Providing forms of | 6 | | statutory property and
health care powers in Articles III and | 7 | | IV does not limit the applicability
of this Act, it being | 8 | | intended that every agency, including, without
limitation, the | 9 | | statutory property and health care power agencies, shall
have | 10 | | the benefit of and be governed by Article II, by Sections 4-1 | 11 | | through
4-9 and Section 4-11 of Article IV, and by all other | 12 | | general provisions of
this Act, except to the extent the terms | 13 | | of the agency are inconsistent with this Act.
| 14 | | (c) The following portions of this Act shall not apply to | 15 | | an excluded power of attorney: Section 2-7(b), Section | 16 | | 2-7(c)(2), Section 2-7(c)(3), Section 2-7(c)(4), Section | 17 | | 2-7(d), Section 2-7(f), Section 2-8(b), Section 2-10(d), | 18 | | Section 2-10(e), Section 2-10(f), Section 2-10.3(b), Section | 19 | | 2-10.3(c), and Section 2-10.5. | 20 | | (Source: P.A. 86-736.)
| 21 | | (755 ILCS 45/2-5) (from Ch. 110 1/2, par. 802-5)
| 22 | | (Text of Section before amendment by P.A. 96-1195 )
| 23 | | Sec. 2-5. Duration of agency - amendment and revocation. | 24 | | Unless the
agency states an earlier termination date, the | 25 | | agency continues until the
death of the principal, |
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| 1 | | notwithstanding any lapse of time, the principal's
disability | 2 | | or incapacity or appointment of a guardian for the principal
| 3 | | after the agency is signed. Every agency may be amended or | 4 | | revoked by the
principal at any time and in any manner | 5 | | communicated to the agent or to any
other person related to the | 6 | | subject matter of the agency, except that
revocation and | 7 | | amendment of health care agencies are governed by Section 4-6
| 8 | | of this Act except to the extent the terms of the agencies are | 9 | | inconsistent
with that Section.
| 10 | | (Source: P.A. 86-736.)
| 11 | | (Text of Section after amendment by P.A. 96-1195 )
| 12 | | Sec. 2-5. Duration of agency - amendment and revocation. | 13 | | (a) Unless the
agency states an earlier termination date, | 14 | | the agency continues until the
death of the principal, | 15 | | notwithstanding any lapse of time, the principal's
disability | 16 | | or incapacity or appointment of a guardian for the principal
| 17 | | after the agency is signed. Every agency may be amended or | 18 | | revoked by the
principal, if the principal has the capacity to | 19 | | do so, at any time and in any manner communicated to the agent | 20 | | or to any
other person related to the subject matter of the | 21 | | agency, except that
revocation and amendment of health care | 22 | | agencies are governed by Section 4-6
of this Act except to the | 23 | | extent the terms of the agencies are inconsistent
with that | 24 | | Section. The execution of a power of attorney does not revoke a | 25 | | power of attorney previously executed by the principal unless |
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| 1 | | the subsequent power of attorney provides that the previous | 2 | | power of attorney is revoked or that all other powers of | 3 | | attorney are revoked.
| 4 | | (b) Notwithstanding the provisions of subsection (a), an | 5 | | excluded power of attorney may be revoked only by the mechanism | 6 | | provided in that power of attorney or, if none, by written | 7 | | instrument signed by the principal and the agent making | 8 | | specific reference to the excluded power of attorney in | 9 | | question. An excluded power of attorney is not revoked by a | 10 | | subsequent power of attorney, including but not limited to a | 11 | | subsequent power of attorney that states that all other powers | 12 | | of attorney are revoked. | 13 | | (Source: P.A. 96-1195, eff. 7-1-11.)
| 14 | | (755 ILCS 45/3-3) (from Ch. 110 1/2, par. 803-3)
| 15 | | (Text of Section before amendment by P.A. 96-1195 )
| 16 | | Sec. 3-3. Statutory short form power of attorney for | 17 | | property. The
following form may be known as "statutory | 18 | | property power" and may be used
to grant an agent powers with | 19 | | respect to property and financial matters.
When a power of | 20 | | attorney in substantially the following form is used,
including | 21 | | the "notice" paragraph at the beginning in capital letters and
| 22 | | the notarized form of acknowledgment at the end, it shall have | 23 | | the meaning
and effect prescribed in this Act. The validity of | 24 | | a power of attorney as
meeting the requirements of a statutory | 25 | | property power shall not be
affected by the fact that one or |
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| 1 | | more of the categories of optional powers
listed in the form | 2 | | are struck out or the form includes specific
limitations on or | 3 | | additions to the agent's powers, as permitted by the
form. | 4 | | Nothing in this Article shall invalidate or bar use by the
| 5 | | principal of any other or different form of power of attorney | 6 | | for property.
Nonstatutory property powers must be executed by | 7 | | the principal and
designate the agent and the agent's powers, | 8 | | but they need not be acknowledged
or
conform in any other | 9 | | respect to the statutory property power.
| 10 | | "ILLINOIS STATUTORY SHORT FORM POWER OF ATTORNEY FOR PROPERTY
| 11 | | (NOTICE: THE PURPOSE OF THIS POWER OF ATTORNEY IS TO GIVE | 12 | | THE PERSON YOU
DESIGNATE (YOUR "AGENT") BROAD POWERS TO HANDLE | 13 | | YOUR PROPERTY, WHICH MAY
INCLUDE POWERS TO PLEDGE, SELL OR | 14 | | OTHERWISE DISPOSE OF ANY REAL OR PERSONAL
PROPERTY WITHOUT | 15 | | ADVANCE NOTICE TO YOU OR APPROVAL BY YOU. THIS FORM DOES
NOT | 16 | | IMPOSE A DUTY ON YOUR AGENT TO EXERCISE GRANTED POWERS; BUT | 17 | | WHEN POWERS
ARE EXERCISED, YOUR AGENT WILL HAVE TO USE DUE CARE | 18 | | TO ACT FOR YOUR
BENEFIT AND IN ACCORDANCE WITH THIS FORM AND | 19 | | KEEP A RECORD OF RECEIPTS,
DISBURSEMENTS AND SIGNIFICANT | 20 | | ACTIONS TAKEN AS AGENT. A COURT CAN TAKE AWAY THE POWERS
OF | 21 | | YOUR AGENT IF IT FINDS THE AGENT IS NOT ACTING PROPERLY. YOU | 22 | | MAY NAME
SUCCESSOR AGENTS UNDER THIS FORM BUT NOT CO-AGENTS. | 23 | | UNLESS YOU EXPRESSLY
LIMIT THE DURATION OF THIS POWER IN THE | 24 | | MANNER PROVIDED BELOW, UNTIL YOU
REVOKE THIS POWER OR A COURT | 25 | | ACTING ON YOUR BEHALF TERMINATES IT, YOUR
AGENT MAY EXERCISE | 26 | | THE POWERS GIVEN HERE THROUGHOUT YOUR LIFETIME, EVEN
AFTER YOU |
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| 1 | | BECOME DISABLED. THE POWERS YOU GIVE YOUR AGENT ARE EXPLAINED
| 2 | | MORE FULLY IN SECTION 3-4 OF THE ILLINOIS "STATUTORY SHORT FORM | 3 | | POWER OF
ATTORNEY FOR PROPERTY LAW" OF WHICH THIS FORM IS A | 4 | | PART
(SEE THE BACK OF THIS FORM). THAT LAW EXPRESSLY PERMITS | 5 | | THE USE OF ANY
DIFFERENT FORM OF POWER OF ATTORNEY YOU MAY | 6 | | DESIRE. IF THERE IS ANYTHING
ABOUT THIS FORM THAT YOU DO NOT | 7 | | UNDERSTAND, YOU SHOULD ASK A LAWYER TO EXPLAIN
IT TO YOU.)
| 8 | | POWER OF ATTORNEY made this .... day of ....... (month) | 9 | | ...... (year)
| 10 | | 1. I, ..............., (insert name and address of | 11 | | principal)
hereby appoint:
| 12 | | .............................................................
| 13 | | (insert name and address of agent)
| 14 | | as my attorney-in-fact (my "agent") to act for me and in my | 15 | | name (in any
way I could act in person) with respect to the | 16 | | following powers, as defined
in Section 3-4 of the "Statutory | 17 | | Short Form Power of Attorney for Property Law"
(including all | 18 | | amendments), but subject to any limitations on or additions
to | 19 | | the specified powers inserted in paragraph 2 or 3 below:
| 20 | | (YOU MUST STRIKE OUT ANY ONE OR MORE OF THE FOLLOWING | 21 | | CATEGORIES OF
POWERS YOU DO NOT WANT YOUR AGENT TO HAVE. | 22 | | FAILURE TO STRIKE THE TITLE
OF ANY CATEGORY WILL CAUSE THE | 23 | | POWERS DESCRIBED IN THAT CATEGORY TO BE
GRANTED TO THE AGENT. | 24 | | TO STRIKE OUT A CATEGORY YOU MUST DRAW A LINE
THROUGH THE TITLE | 25 | | OF THAT CATEGORY.)
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| 1 | | (a) Real estate transactions.
| 2 | | (b) Financial institution transactions.
| 3 | | (c) Stock and bond transactions.
| 4 | | (d) Tangible personal property transactions.
| 5 | | (e) Safe deposit box transactions.
| 6 | | (f) Insurance and annuity transactions.
| 7 | | (g) Retirement plan transactions.
| 8 | | (h) Social Security, employment and military service | 9 | | benefits.
| 10 | | (i) Tax matters.
| 11 | | (j) Claims and litigation.
| 12 | | (k) Commodity and option transactions.
| 13 | | (l) Business operations.
| 14 | | (m) Borrowing transactions.
| 15 | | (n) Estate transactions.
| 16 | | (o) All other property powers and transactions.
| 17 | | (LIMITATIONS ON AND ADDITIONS TO THE AGENT'S POWERS MAY BE | 18 | | INCLUDED IN THIS
POWER OF ATTORNEY IF THEY ARE SPECIFICALLY | 19 | | DESCRIBED BELOW.)
| 20 | | 2. The powers granted above shall not include the following | 21 | | powers or
shall be modified or limited in the following | 22 | | particulars (here you may
include any specific limitations you | 23 | | deem appropriate, such as a
prohibition or conditions on the | 24 | | sale of particular stock or real estate or
special rules on | 25 | | borrowing by the agent):
| 26 | | .............................................................
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| 1 | | .............................................................
| 2 | | .............................................................
| 3 | | .............................................................
| 4 | | .............................................................
| 5 | | 3. In addition to the powers granted above, I grant my | 6 | | agent the
following powers (here you may add any other | 7 | | delegable powers including,
without limitation, power to make | 8 | | gifts, exercise powers of appointment,
name or change | 9 | | beneficiaries or joint tenants or revoke or amend any trust
| 10 | | specifically referred to below):
| 11 | | .............................................................
| 12 | | .............................................................
| 13 | | .............................................................
| 14 | | .............................................................
| 15 | | .............................................................
| 16 | | (YOUR AGENT WILL HAVE AUTHORITY TO EMPLOY OTHER PERSONS AS | 17 | | NECESSARY TO
ENABLE THE AGENT TO PROPERLY EXERCISE THE POWERS | 18 | | GRANTED IN THIS FORM, BUT
YOUR AGENT WILL HAVE TO MAKE ALL | 19 | | DISCRETIONARY DECISIONS. IF YOU WANT TO
GIVE YOUR AGENT THE | 20 | | RIGHT TO DELEGATE DISCRETIONARY DECISION-MAKING POWERS
TO | 21 | | OTHERS, YOU SHOULD KEEP THE NEXT SENTENCE, OTHERWISE IT SHOULD | 22 | | BE STRUCK OUT.)
| 23 | | 4. My agent shall have the right by written instrument to | 24 | | delegate any
or all of the foregoing powers involving | 25 | | discretionary decision-making to
any person or persons whom my | 26 | | agent may select, but such delegation may be
amended or revoked |
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| 1 | | by any agent (including any successor) named by me who
is | 2 | | acting under this power of attorney at the time of reference.
| 3 | | (YOUR AGENT WILL BE ENTITLED TO REIMBURSEMENT FOR ALL | 4 | | REASONABLE EXPENSES
INCURRED IN ACTING UNDER THIS POWER OF | 5 | | ATTORNEY. STRIKE OUT THE NEXT
SENTENCE IF YOU DO NOT WANT YOUR | 6 | | AGENT TO ALSO BE ENTITLED TO REASONABLE
COMPENSATION FOR | 7 | | SERVICES AS AGENT.)
| 8 | | 5. My agent shall be entitled to reasonable compensation | 9 | | for services
rendered as agent under this power of attorney.
| 10 | | (THIS POWER OF ATTORNEY MAY BE AMENDED OR REVOKED BY YOU AT ANY | 11 | | TIME AND IN
ANY MANNER. ABSENT AMENDMENT OR REVOCATION, THE | 12 | | AUTHORITY GRANTED IN THIS
POWER OF ATTORNEY WILL BECOME | 13 | | EFFECTIVE AT THE TIME THIS POWER IS SIGNED
AND WILL CONTINUE | 14 | | UNTIL YOUR DEATH UNLESS A LIMITATION ON THE BEGINNING
DATE OR | 15 | | DURATION IS MADE BY INITIALING AND COMPLETING EITHER (OR BOTH) | 16 | | OF
THE FOLLOWING:)
| 17 | | 6. ( ) This power of attorney shall become effective on
| 18 | | .............................................................
| 19 | | (insert a future date or event during your lifetime, such as | 20 | | court
determination of your disability, when you want this | 21 | | power to first take effect)
| 22 | | 7. ( ) This power of attorney shall terminate on
| 23 | | .............................................................
| 24 | | (insert a future date or event, such as court determination of | 25 | | your
disability, when you want this power to terminate prior to | 26 | | your death)
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| 1 | | (IF YOU WISH TO NAME SUCCESSOR AGENTS, INSERT THE NAME(S) AND | 2 | | ADDRESS(ES)
OF SUCH SUCCESSOR(S) IN THE FOLLOWING PARAGRAPH.)
| 3 | | 8. If any agent named by me shall die, become incompetent, | 4 | | resign
or refuse to accept the office of agent, I name the | 5 | | following
(each to act alone and successively,
in the order | 6 | | named) as successor(s) to such agent:
| 7 | | .............................................................
| 8 | | .............................................................
| 9 | | For purposes of this paragraph 8, a person shall be considered | 10 | | to be
incompetent if and while the person is a minor or an | 11 | | adjudicated
incompetent or disabled person or the person is | 12 | | unable to give prompt and
intelligent consideration to business | 13 | | matters, as certified by a licensed physician.
(IF YOU WISH TO | 14 | | NAME YOUR AGENT AS
GUARDIAN OF YOUR ESTATE, IN THE EVENT A | 15 | | COURT DECIDES THAT ONE
SHOULD BE APPOINTED, YOU
MAY, BUT ARE | 16 | | NOT REQUIRED TO, DO SO BY RETAINING THE FOLLOWING PARAGRAPH.
| 17 | | THE COURT
WILL APPOINT YOUR AGENT IF THE COURT FINDS THAT SUCH | 18 | | APPOINTMENT WILL SERVE YOUR
BEST INTERESTS AND WELFARE. STRIKE | 19 | | OUT PARAGRAPH 9 IF YOU DO NOT WANT
YOUR AGENT TO ACT AS | 20 | | GUARDIAN.)
| 21 | | 9. If a guardian of my estate (my property) is to be | 22 | | appointed, I
nominate the agent acting under this power of | 23 | | attorney as such guardian,
to serve without bond or security.
| 24 | | 10. I am fully informed as to all the contents of this form | 25 | | and
understand the full import of this grant of powers to my | 26 | | agent.
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| 1 | | Signed ..................................................
| 2 | | (principal)
| 3 | | (YOU MAY, BUT ARE NOT REQUIRED TO, REQUEST YOUR AGENT AND | 4 | | SUCCESSOR
AGENTS TO PROVIDE SPECIMEN SIGNATURES BELOW. IF YOU | 5 | | INCLUDE SPECIMEN
SIGNATURES IN THIS POWER OF ATTORNEY, YOU MUST | 6 | | COMPLETE THE CERTIFICATION
OPPOSITE THE SIGNATURES OF THE | 7 | | AGENTS.)
| 8 | | Specimen signatures of I certify that the signatures
| 9 | | agent (and successors) of my agent (and successors)
| 10 | | are correct.
| 11 | | .......................... .............................
| 12 | | (agent) (principal)
| 13 | | .......................... .............................
| 14 | | (successor agent) (principal)
| 15 | | .......................... .............................
| 16 | | (successor agent) (principal)
| 17 | | (THIS POWER OF ATTORNEY WILL NOT BE EFFECTIVE UNLESS IT IS | 18 | | NOTARIZED AND
SIGNED BY AT LEAST ONE ADDITIONAL WITNESS,
USING | 19 | | THE FORM BELOW.)
| 20 | | State of ............)
| 21 | | ) SS.
| 22 | | County of ...........)
| 23 | | The undersigned, a notary public in and for the above | 24 | | county and state,
certifies that ......................., | 25 | | known to me to be the same person
whose name is subscribed as | 26 | | principal to the foregoing power of attorney,
appeared before |
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| 1 | | me and the additional witness in person and acknowledged
| 2 | | signing and delivering the
instrument as the free and voluntary | 3 | | act of the principal, for the uses and
purposes therein set | 4 | | forth (, and certified to the correctness of the
signature(s) | 5 | | of the agent(s)).
| 6 | | Dated: ................ (SEAL)
| 7 | | ..............................
| 8 | | Notary Public
| 9 | | My commission expires .................
| 10 | | The undersigned witness certifies that ................, known | 11 | | to me to be
the same person whose name is subscribed as | 12 | | principal to the foregoing power of
attorney, appeared before | 13 | | me and the notary public and acknowledged signing and
| 14 | | delivering the instrument as the free and voluntary act of the | 15 | | principal, for
the
uses and purposes therein set forth. I | 16 | | believe him or her to be of sound mind
and memory.
| 17 | | Dated: ................ (SEAL)
| 18 | | ..............................
| 19 | | Witness
| 20 | | (THE NAME AND ADDRESS OF THE PERSON PREPARING THIS FORM SHOULD | 21 | | BE
INSERTED
IF THE AGENT WILL HAVE POWER TO CONVEY ANY INTEREST | 22 | | IN REAL ESTATE.)
| 23 | | This document was prepared by:
| 24 | | .............................................................
| 25 | | ............................................................."
| 26 | | The requirement of the signature of an additional
witness |
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| 1 | | imposed by this amendatory Act of the 91st General
Assembly | 2 | | applies only to instruments executed on or after
the effective | 3 | | date of this amendatory Act of the 91st
General Assembly.
| 4 | | (Source: P.A. 91-790, eff. 6-9-00 .)
| 5 | | (Text of Section after amendment by P.A. 96-1195 )
| 6 | | Sec. 3-3. Statutory short form power of attorney for | 7 | | property. | 8 | | (a) The
form prescribed in this Section may be known as | 9 | | "statutory property power" and may be used
to grant an agent | 10 | | powers with respect to property and financial matters.
The | 11 | | "statutory property power" consists of the following: (1) | 12 | | Notice to the Individual Signing the Illinois Statutory Short | 13 | | Form Power of Attorney for Property; (2) Illinois Statutory | 14 | | Short Form Power of Attorney for Property; and (3) Notice to | 15 | | Agent. When a power of attorney in substantially the form | 16 | | prescribed in this Section is used,
including all 3 items | 17 | | above, with item (1), the Notice to Individual Signing the | 18 | | Illinois Statutory Short Form Power of Attorney for Property, | 19 | | on a separate sheet (coversheet) in 14-point type and
the | 20 | | notarized form of acknowledgment at the end, it shall have the | 21 | | meaning
and effect prescribed in this Act. | 22 | | (b) A power of attorney shall also be deemed to be in | 23 | | substantially the same format as the statutory form if the | 24 | | explanatory language throughout the form (the language | 25 | | following the designation "NOTE:") is distinguished in some way |
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| 1 | | from the legal paragraphs in the form, such as the use of | 2 | | boldface or other difference in typeface and font or point | 3 | | size, even if the "Notice" paragraphs at the beginning are not | 4 | | on a separate sheet of paper or are not in 14-point type, or if | 5 | | the principal's initials do not appear in the acknowledgement | 6 | | at the end of the "Notice" paragraphs. | 7 | | The validity of a power of attorney as
meeting the | 8 | | requirements of a statutory property power shall not be
| 9 | | affected by the fact that one or more of the categories of | 10 | | optional powers
listed in the form are struck out or the form | 11 | | includes specific
limitations on or additions to the agent's | 12 | | powers, as permitted by the
form. Nothing in this Article shall | 13 | | invalidate or bar use by the
principal of any other or | 14 | | different form of power of attorney for property.
Nonstatutory | 15 | | property powers (i) must be executed by the principal, (ii) | 16 | | must
designate the agent and the agent's powers, (iii) must be | 17 | | signed by at least one witness to the principal's signature, | 18 | | and (iv) must indicate that the principal has acknowledged his | 19 | | or her signature before a notary public. However, nonstatutory | 20 | | property powers need not
conform in any other respect to the | 21 | | statutory property power.
| 22 | | (c) The Notice to the Individual Signing the Illinois | 23 | | Statutory Short Form Power of Attorney for Property shall be | 24 | | substantially as follows: | 25 | | "NOTICE TO THE INDIVIDUAL SIGNING THE ILLINOIS |
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| 1 | | STATUTORY SHORT FORM POWER OF ATTORNEY FOR PROPERTY. | 2 | | PLEASE READ THIS NOTICE CAREFULLY. The form that you will | 3 | | be signing is a legal document. It is governed by the Illinois | 4 | | Power of Attorney Act. If there is anything about this form | 5 | | that you do not understand, you should ask a lawyer to explain | 6 | | it to you. | 7 | | The purpose of this Power of Attorney is to give your | 8 | | designated "agent" broad powers to handle your financial | 9 | | affairs, which may include the power to pledge, sell, or | 10 | | dispose of any of your real or personal property, even without | 11 | | your consent or any advance notice to you. When using the | 12 | | Statutory Short Form, you may name successor agents, but you | 13 | | may not name co-agents. | 14 | | This form does not impose a duty upon your agent to handle | 15 | | your financial affairs, so it is important that you select an | 16 | | agent who will agree to do this for you. It is also important | 17 | | to select an agent whom you trust, since you are giving that | 18 | | agent control over your financial assets and property. Any | 19 | | agent who does act for you has a duty to act in good faith for | 20 | | your benefit and to use due care, competence, and diligence. He | 21 | | or she must also act in accordance with the law and with the | 22 | | directions in this form. Your agent must keep a record of all | 23 | | receipts, disbursements, and significant actions taken as your | 24 | | agent. | 25 | | Unless you specifically limit the period of time that this |
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| 1 | | Power of Attorney will be in effect, your agent may exercise | 2 | | the powers given to him or her throughout your lifetime, both | 3 | | before and after you become incapacitated. A court, however, | 4 | | can take away the powers of your agent if it finds that the | 5 | | agent is not acting properly. You may also revoke this Power of | 6 | | Attorney if you wish. | 7 | | This Power
of Attorney does not authorize your agent to | 8 | | appear in court for you as an attorney-at-law or otherwise to | 9 | | engage in the practice of law unless he or she is a licensed | 10 | | attorney who is authorized to practice law in Illinois. | 11 | | The powers you give your agent are explained more fully in | 12 | | Section 3-4 of the Illinois Power of Attorney Act. This form is | 13 | | a part of that law. The "NOTE" paragraphs throughout this form | 14 | | are instructions. | 15 | | You are not required to sign this Power of Attorney, but it | 16 | | will not take effect without your signature. You should not | 17 | | sign this Power of Attorney if you do not understand everything | 18 | | in it, and what your agent will be able to do if you do sign it. | 19 | | Please place your initials on the following line indicating | 20 | | that you have read this Notice: | 21 | | .....................
| 22 | | Principal's initials"
| 23 | | (d) The Illinois Statutory Short Form Power of Attorney for | 24 | | Property shall be substantially as follows: |
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| 1 | | "ILLINOIS STATUTORY SHORT FORM | 2 | | POWER OF ATTORNEY FOR PROPERTY
| 3 | | 1. I, ..............., (insert name and address of | 4 | | principal)
hereby revoke all prior powers of attorney for | 5 | | property executed by me , other than excluded powers of attorney | 6 | | as defined in the Illinois Power of Attorney Act, and appoint:
| 7 | | .............................................................
| 8 | | (insert name and address of agent)
| 9 | | (NOTE: You may not name co-agents using this form.) | 10 | | as my attorney-in-fact (my "agent") to act for me and in my | 11 | | name (in any
way I could act in person) with respect to the | 12 | | following powers, as defined
in Section 3-4 of the "Statutory | 13 | | Short Form Power of Attorney for Property Law"
(including all | 14 | | amendments), but subject to any limitations on or additions
to | 15 | | the specified powers inserted in paragraph 2 or 3 below:
| 16 | | (NOTE: You must strike out any one or more of the following | 17 | | categories of
powers you do not want your agent to have. | 18 | | Failure to strike the title
of any category will cause the | 19 | | powers described in that category to be
granted to the agent. | 20 | | To strike out a category you must draw a line
through the title | 21 | | of that category.)
| 22 | | (a) Real estate transactions.
| 23 | | (b) Financial institution transactions.
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| 1 | | (c) Stock and bond transactions.
| 2 | | (d) Tangible personal property transactions.
| 3 | | (e) Safe deposit box transactions.
| 4 | | (f) Insurance and annuity transactions.
| 5 | | (g) Retirement plan transactions.
| 6 | | (h) Social Security, employment and military service | 7 | | benefits.
| 8 | | (i) Tax matters.
| 9 | | (j) Claims and litigation.
| 10 | | (k) Commodity and option transactions.
| 11 | | (l) Business operations.
| 12 | | (m) Borrowing transactions.
| 13 | | (n) Estate transactions.
| 14 | | (o) All other property transactions.
| 15 | | (NOTE: Limitations on and additions to the agent's powers may | 16 | | be included in this power of attorney if they are specifically | 17 | | described below.)
| 18 | | 2. The powers granted above shall not include the following | 19 | | powers or
shall be modified or limited in the following | 20 | | particulars: | 21 | | (NOTE: Here you may
include any specific limitations you deem | 22 | | appropriate, such as a
prohibition or conditions on the sale of | 23 | | particular stock or real estate or
special rules on borrowing | 24 | | by the agent.)
| 25 | | .............................................................
| 26 | | .............................................................
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| 1 | | .............................................................
| 2 | | .............................................................
| 3 | | .............................................................
| 4 | | 3. In addition to the powers granted above, I grant my | 5 | | agent the
following powers: | 6 | | (NOTE: Here you may add any other delegable powers including,
| 7 | | without limitation, power to make gifts, exercise powers of | 8 | | appointment,
name or change beneficiaries or joint tenants or | 9 | | revoke or amend any trust
specifically referred to below.)
| 10 | | .............................................................
| 11 | | .............................................................
| 12 | | .............................................................
| 13 | | .............................................................
| 14 | | .............................................................
| 15 | | (NOTE: Your agent will have authority to employ other persons | 16 | | as necessary to enable the agent to properly exercise the | 17 | | powers granted in this form, but your agent will have to make | 18 | | all discretionary decisions. If you want to give your agent the | 19 | | right to delegate discretionary decision-making powers to | 20 | | others, you should keep paragraph 4, otherwise it should be | 21 | | struck out.)
| 22 | | 4. My agent shall have the right by written instrument to | 23 | | delegate any
or all of the foregoing powers involving | 24 | | discretionary decision-making to
any person or persons whom my | 25 | | agent may select, but such delegation may be
amended or revoked | 26 | | by any agent (including any successor) named by me who
is |
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| 1 | | acting under this power of attorney at the time of reference.
| 2 | | (NOTE: Your agent will be entitled to reimbursement for all | 3 | | reasonable expenses incurred in acting under this power of | 4 | | attorney. Strike out paragraph 5 if you do not want your agent | 5 | | to also be entitled to reasonable compensation for services as | 6 | | agent.)
| 7 | | 5. My agent shall be entitled to reasonable compensation | 8 | | for services
rendered as agent under this power of attorney.
| 9 | | (NOTE: This power of attorney may be amended or revoked by you | 10 | | at any time and in any manner. Absent amendment or revocation, | 11 | | the authority granted in this power of attorney will become | 12 | | effective at the time this power is signed and will continue | 13 | | until your death, unless a limitation on the beginning date or | 14 | | duration is made by initialing and completing one or both of | 15 | | paragraphs 6 and 7:)
| 16 | | 6. ( ) This power of attorney shall become effective on
| 17 | | .............................................................
| 18 | | (NOTE: Insert a future date or event during your lifetime, such | 19 | | as a court
determination of your disability or a written | 20 | | determination by your physician that you are incapacitated, | 21 | | when you want this power to first take effect.)
| 22 | | 7. ( ) This power of attorney shall terminate on
| 23 | | .............................................................
| 24 | | (NOTE: Insert a future date or event, such as a court | 25 | | determination that you are not under a legal disability or a | 26 | | written determination by your physician that you are not |
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| 1 | | incapacitated, if you want this power to terminate prior to | 2 | | your death.)
| 3 | | (NOTE: If you wish to name one or more successor agents, insert | 4 | | the name and address of each successor agent in paragraph 8.)
| 5 | | 8. If any agent named by me shall die, become incompetent, | 6 | | resign
or refuse to accept the office of agent, I name the | 7 | | following
(each to act alone and successively,
in the order | 8 | | named) as successor(s) to such agent:
| 9 | | .............................................................
| 10 | | .............................................................
| 11 | | For purposes of this paragraph 8, a person shall be considered | 12 | | to be
incompetent if and while the person is a minor or an | 13 | | adjudicated
incompetent or disabled person or the person is | 14 | | unable to give prompt and
intelligent consideration to business | 15 | | matters, as certified by a licensed physician.
| 16 | | (NOTE: If you wish to, you may name your agent as guardian of | 17 | | your estate if a court decides that one should be appointed. To | 18 | | do this, retain paragraph 9, and the court will appoint your | 19 | | agent if the court finds that this appointment will serve your | 20 | | best interests and welfare. Strike out paragraph 9 if you do | 21 | | not want your agent to act as guardian.)
| 22 | | 9. If a guardian of my estate (my property) is to be | 23 | | appointed, I
nominate the agent acting under this power of | 24 | | attorney as such guardian,
to serve without bond or security.
| 25 | | 10. I am fully informed as to all the contents of this form | 26 | | and
understand the full import of this grant of powers to my |
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| 1 | | agent.
| 2 | | (NOTE: This form does not authorize your agent to appear in | 3 | | court for you as an attorney-at-law or otherwise to engage in | 4 | | the practice of law unless he or she is a licensed attorney who | 5 | | is authorized to practice law in Illinois.) | 6 | | 11. The Notice to Agent is incorporated by reference and | 7 | | included as part of this form. | 8 | | Dated: ................ | 9 | | Signed ..........................................
| 10 | | (principal)
| 11 | | (NOTE: This power of attorney will not be effective unless it | 12 | | is signed by at least one witness and your signature is | 13 | | notarized, using the form below. The notary may not also sign | 14 | | as a witness.)
| 15 | | The undersigned witness certifies that ..............., known | 16 | | to me to be
the same person whose name is subscribed as | 17 | | principal to the foregoing power of
attorney, appeared before | 18 | | me and the notary public and acknowledged signing and
| 19 | | delivering the instrument as the free and voluntary act of the | 20 | | principal, for
the
uses and purposes therein set forth. I | 21 | | believe him or her to be of sound mind
and memory. The | 22 | | undersigned witness also certifies that the witness is not: (a) | 23 | | the attending physician or mental health service provider or a | 24 | | relative of the physician or provider; (b) an owner, operator, |
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| 1 | | or relative of an owner or operator of a health care facility | 2 | | in which the principal is a patient or resident; (c) a parent, | 3 | | sibling, descendant, or any spouse of such parent, sibling, or | 4 | | descendant of either the principal or any agent or successor | 5 | | agent under the foregoing power of attorney, whether such | 6 | | relationship is by blood, marriage, or adoption; or (d) an | 7 | | agent or successor agent under the foregoing power of attorney.
| 8 | | Dated: ................
| 9 | | ..............................
| 10 | | Witness
| 11 | | (NOTE: Illinois requires only one witness, but other | 12 | | jurisdictions may require more than one witness. If you wish to | 13 | | have a second witness, have him or her certify and sign here:) | 14 | | (Second witness) The undersigned witness certifies that | 15 | | ................, known to me to be the same person whose name | 16 | | is subscribed as principal to the foregoing power of attorney, | 17 | | appeared before me and the notary public and acknowledged | 18 | | signing and delivering the instrument as the free and voluntary | 19 | | act of the principal, for the uses and purposes therein set | 20 | | forth. I believe him or her to be of sound mind and memory. The | 21 | | undersigned witness also certifies that the witness is not: (a) | 22 | | the attending physician or mental health service provider or a | 23 | | relative of the physician or provider; (b) an owner, operator, | 24 | | or relative of an owner or operator of a health care facility |
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| 1 | | in which the principal is a patient or resident; (c) a parent, | 2 | | sibling, descendant, or any spouse of such parent, sibling, or | 3 | | descendant of either the principal or any agent or successor | 4 | | agent under the foregoing power of attorney, whether such | 5 | | relationship is by blood, marriage, or adoption; or (d) an | 6 | | agent or successor agent under the foregoing power of attorney. | 7 | | Dated: ....................... | 8 | | ..............................
| 9 | | Witness
| 10 | | State of ............)
| 11 | | ) SS.
| 12 | | County of ...........)
| 13 | | The undersigned, a notary public in and for the above | 14 | | county and state,
certifies that ......................., | 15 | | known to me to be the same person
whose name is subscribed as | 16 | | principal to the foregoing power of attorney,
appeared before | 17 | | me and the witness(es) ............. (and ..............) in | 18 | | person and acknowledged
signing and delivering the
instrument | 19 | | as the free and voluntary act of the principal, for the uses | 20 | | and
purposes therein set forth (, and certified to the | 21 | | correctness of the
signature(s) of the agent(s)).
| 22 | | Dated: ................
| 23 | | ..............................
| 24 | | Notary Public
| 25 | | My commission expires .................
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| 1 | | (NOTE: You may, but are not required to, request your agent and | 2 | | successor agents to provide specimen signatures below. If you | 3 | | include specimen signatures in this power of attorney, you must | 4 | | complete the certification opposite the signatures of the | 5 | | agents.)
| 6 | | Specimen signatures of I certify that the signatures
| 7 | | agent (and successors) of my agent (and successors)
| 8 | | are genuine.
| 9 | | .......................... .............................
| 10 | | (agent) (principal)
| 11 | | .......................... .............................
| 12 | | (successor agent) (principal)
| 13 | | .......................... .............................
| 14 | | (successor agent) (principal)
| 15 | | (NOTE: The name, address, and phone number of the person | 16 | | preparing this form or who assisted the principal in completing | 17 | | this form should be inserted below.)
| 18 | | Name: ....................... | 19 | | Address: .................... | 20 | | .............................. | 21 | | .............................. | 22 | | Phone: .................... "
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| 1 | | (e) Notice to Agent. The following form may be known as | 2 | | "Notice to Agent" and shall be supplied to an agent appointed | 3 | | under a power of attorney for property. | 4 | | "NOTICE TO AGENT | 5 | | When you accept the authority granted under this power of | 6 | | attorney a special legal relationship, known as agency, is | 7 | | created between you and the principal. Agency imposes upon you | 8 | | duties that continue until you resign or the power of attorney | 9 | | is terminated or revoked. | 10 | | As agent you must: | 11 | | (1) do what you know the principal reasonably expects | 12 | | you to do with the principal's property; | 13 | | (2) act in good faith for the best interest of the | 14 | | principal, using due care, competence, and diligence; | 15 | | (3) keep a complete and detailed record of all | 16 | | receipts, disbursements, and significant actions conducted | 17 | | for the principal; | 18 | | (4) attempt to preserve the principal's estate plan, to | 19 | | the extent actually known by the agent, if preserving the | 20 | | plan is consistent with the principal's best interest; and | 21 | | (5) cooperate with a person who has authority to make | 22 | | health care decisions for the principal to carry out the | 23 | | principal's reasonable expectations to the extent actually | 24 | | in the principal's best interest. | 25 | | As agent you must not do any of the following: |
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| 1 | | (1) act so as to create a conflict of interest that is | 2 | | inconsistent with the other principles in this Notice to | 3 | | Agent; | 4 | | (2) do any act beyond the authority granted in this | 5 | | power of attorney; | 6 | | (3) commingle the principal's funds with your funds; | 7 | | (4) borrow funds or other property from the principal, | 8 | | unless otherwise authorized; | 9 | | (5) continue acting on behalf of the principal if you | 10 | | learn of any event that terminates this power of attorney | 11 | | or your authority under this power of attorney, such as the | 12 | | death of the principal, your legal separation from the | 13 | | principal, or the dissolution of your marriage to the | 14 | | principal. | 15 | | If you have special skills or expertise, you must use those | 16 | | special skills and expertise when acting for the principal. You | 17 | | must disclose your identity as an agent whenever you act for | 18 | | the principal by writing or printing the name of the principal | 19 | | and signing your own name "as Agent" in the following manner: | 20 | | "(Principal's Name) by (Your Name) as Agent" | 21 | | The meaning of the powers granted to you is contained in | 22 | | Section 3-4 of the Illinois Power of Attorney Act, which is | 23 | | incorporated by reference into the body of the power of | 24 | | attorney for property document. | 25 | | If you violate your duties as agent or act outside the | 26 | | authority granted to you, you may be liable for any damages, |
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| 1 | | including attorney's fees and costs, caused by your violation. | 2 | | If there is anything about this document or your duties | 3 | | that you do not understand, you should seek legal advice from | 4 | | an attorney." | 5 | | (f) The requirement of the signature of a witness in | 6 | | addition to the principal and the notary, imposed by Public Act | 7 | | 91-790, applies only to instruments executed on or after June | 8 | | 9, 2000 (the effective date of that Public Act). | 9 | | (NOTE: This amendatory Act of the 96th General Assembly deletes | 10 | | provisions that referred to the one required witness as an | 11 | | "additional witness", and it also provides for the signature of | 12 | | an optional "second witness".)
| 13 | | (Source: P.A. 96-1195, eff. 7-1-11.)"; and
| 14 | | on page 3, immediately below line 7, by adding the following: | 15 | | "Section 95. No acceleration or delay. Where this Act makes | 16 | | changes in a statute that is represented in this Act by text | 17 | | that is not yet or no longer in effect (for example, a Section | 18 | | represented by multiple versions), the use of that text does | 19 | | not accelerate or delay the taking effect of (i) the changes | 20 | | made by this Act or (ii) provisions derived from any other | 21 | | Public Act.
| 22 | | Section 99. Effective date. This Act takes effect July 1, |
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| 1 | | 2011.".
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