(760 ILCS 75/2) (from Ch. 17, par. 2052)
Sec. 2.
In addition to all other powers granted corporations authorized to
accept and execute trusts in Illinois, such a corporation, when acting as a
fiduciary or co-fiduciary, may, unless otherwise provided by the agreement, will, deed,
court order or other instrument:
(a) Cause securities to be registered in the name of a nominee without
mention of its fiduciary capacity in any instrument or record constituting
or evidencing title thereto, and may cause certificates representing
securities, including those held in bearer form, of the same class of the
same issuer and from time to time constituting assets of particular
fiduciary accounts, to be held in bulk with certificates of the same class
of the same issuer and from time to time constituting assets of other
fiduciary accounts, without certification as to ownership attached,
including the merging of certificates from time to time constituting assets
of various fiduciary accounts into one or more certificates; or
(b) Deposit or arrange for the deposit of securities with a clearing
corporation, a Federal Reserve Bank or another fiduciary.
When such securities are so deposited,
certificates
representing securities, including those held in bearer form, of the same
class of the same issuer and from time to time constituting assets of
particular fiduciary accounts may be registered in the name of the nominee
of the clearing corporation, Federal Reserve Bank or other
fiduciary without mention of the
fiduciary capacity in
any instrument or record constituting or evidencing title thereto, and may
be held in bulk in the name of said nominee with certificates of the same
class of the same issuer and with any other securities authorized to be
deposited in such clearing corporation, Federal Reserve Bank
or other fiduciary by any authorized
person regardless
of the ownership of any such securities, including the merging of
certificates from time to time constituting assets of various fiduciary
accounts into one or more certificates.
(Source: P.A. 84-519.)
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