Sen. Kirk W. Dillard

Filed: 3/14/2011

 

 


 

 


 
09700SB1294sam002LRB097 00144 AJO 52830 a

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.".