Public Act 90-0298 of the 90th General Assembly

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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.

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