Illinois General Assembly - Bill Status for SB0263

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Bill Status of SB0263 94th General Assembly

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Short Description: CORP FIDUCIARY-AFFILIATE INVST

Senate Sponsors
Sen. Terry Link

House Sponsors
(Rep. Angelo Saviano)

Last Action

Date	Chamber	Action
1/9/2007	Senate	Session Sine Die

Statutes Amended In Order of Appearance

205 ILCS 620/5-15 new

Synopsis As Introduced
Amends the Corporate Fiduciary Act. Authorizes any bank or trust company to purchase services or products from an affiliate of the bank or trust company if the purchase is otherwise prudent and not prohibited by the instrument governing the fiduciary relationship. Provides that compensation for the services or products may be in addition to any compensation to which the bank, trust company, or its affiliate is otherwise entitled as a fiduciary. Provides that the bank or trust company must disclose, in a specified manner, any purchase from an affiliate. Applies to any bank or trust company doing banking or trust business in this State, including any national bank, national trust company, or its affiliates. Effective January 1, 2006.

Actions

Date	Chamber	Action
2/3/2005	Senate	Filed with Secretary by Sen. Terry Link
2/3/2005	Senate	First Reading
2/3/2005	Senate	Referred to Rules
2/17/2005	Senate	Assigned to Financial Institutions
2/24/2005	Senate	Do Pass Financial Institutions; 006-000-000
2/24/2005	Senate	Placed on Calendar Order of 2nd Reading March 1, 2005
3/1/2005	Senate	Second Reading
3/1/2005	Senate	Placed on Calendar Order of 3rd Reading March 2, 2005
3/9/2005	Senate	Third Reading - Passed; 054-000-000
3/9/2005	House	Arrived in House
3/9/2005	House	Placed on Calendar Order of First Reading
3/10/2005	House	Chief House Sponsor Rep. Angelo Saviano
3/15/2005	House	First Reading
3/15/2005	House	Referred to Rules Committee
4/5/2005	House	Assigned to Executive Committee
5/13/2005	House	Rule 19(a) / Re-referred to Rules Committee
1/9/2007	Senate	Session Sine Die

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