Public Act 90-0298 of the 90th General Assembly
Public Act 90-0298
HB1036 Enrolled LRB9004002LDmb
AN ACT to amend the Corporate Fiduciary Act by changing
Section 2-11 and adding Section 2-12.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Corporate Fiduciary Act is amended by
changing Section 2-11 and adding Section 2-12 as follows:
(205 ILCS 620/2-11)
Sec. 2-11. Retention of agents and advisors. A
corporate fiduciary may hire and compensate, as an additional
expense of the trust or estate, agents, and advisors
(including financial, investment, and other advisors), and
brokers (including brokers for the sale or purchase of
securities or other property) to assist or advise the
corporate fiduciary in the performance of its duties,
including persons and entities associated or affiliated with
the corporate fiduciary.
(Source: P.A. 89-205, eff. 1-1-96; 89-364, eff. 8-18-95.)
(205 ILCS 620/2-12 new)
Sec. 2-12. Reproductions of documents. Notwithstanding
any other provision of law, if a corporate fiduciary
possesses, records, or creates any document, memorandum,
writing, entry, representation, or combination thereof, of
any act, transaction, occurrence, event, or agreement
(including, without limitation, a trust agreement or
amendment thereto, but excluding in all events an original
will or codicil thereto) and in the regular course of
business has caused any or all of the same to be recorded,
copied, or reproduced by photographic, photostatic,
facsimile, microfiche, optical, or electronic imaging, or any
other electronic or computer-generated process that
accurately reproduces or forms a medium for so reproducing
the original, the original may be destroyed in the regular
course of business and such recording, copy, or reproduction
shall be admissible in evidence in the same manner as the
original in any proceeding, whether the original is in
existence or not. This Section shall not be construed to
exclude from evidence any document or copy thereof that is
otherwise admissible under the rules of evidence.
Section 99. Effective date. This Act takes effect upon
becoming law.