BEAUBIEN-CAPPARELLI. (WALSH,T) 760 ILCS 5/5.2 from Ch. 17, par. 1675.2 Amends the Trusts and Trustees Act. Provides that a trustee may invest or reinvest the trust estate in interests in a unit investment trust (instead of investment trust). Provides that a trustee may invest or reinvest the trust estate in interests in any investment fund exempt from registration. Provides that a trustee shall not be prohibited from investing, reinvesting, retaining, or exchanging any interests held by the trust estate in any mutual fund for which the trustee acts as advisor or manager or in any other role (instead of just advisor or manager) solely on the basis that the trustee provides service to the mutual fund and receives remuneration. Provides that a trustee shall not be required to reduce or waive its compensation for services provided in connection with the administration of the trust estate because the trustee invests, reinvests, or retains the trust estate in a mutual fund. Effective immediately. 97-02-27 H FIRST READING 97-02-27 H ADDED AS A JOINT SPONSOR CAPPARELLI 97-02-27 H REFERRED TO HOUSE RULES COMMITTEE RULES 97-02-28 H ASSIGNED TO COMMITTEE JUD-CIVIL LAW 97-03-20 H DO PASS/SHORT DEBATE 011-000-000 HJUA 97-03-20 H PLACED CALENDAR 2ND READING-SHORT DEBATE 97-04-08 H SECOND READING-SHORT DEBATE 97-04-08 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 97-04-09 H THIRD READING/SHORT DEBATE/PASSED 116-000-001 97-04-10 S ARRIVE IN SENATE 97-04-10 S PLACED CALENDAR ORDER OF FIRST READING 97-04-16 S CHIEF SPONSOR WALSH,T 97-04-17 S FIRST READING 97-04-17 S REFERRED TO SENATE RULES COMMITTEE RULES 97-04-24 S ASSIGNED TO COMMITTEE FIN INST 97-05-08 S DO PASS 009-000-000 SFIC 97-05-08 S PLACED ON CALENDAR ORDER OF 2ND READING 97-05-09 97-05-12 S SECOND READING 97-05-12 S PLACED ON CALENDAR ORDER OF 3RD READING 97-05-13 97-05-13 S THIRD READING - PASSED 056-000-001 97-05-13 H PASSED BOTH HOUSES 97-06-11 H SENT TO THE GOVERNOR 97-08-01 H GOVERNOR APPROVED 97-08-01 H EFFECTIVE DATE 97-08-01 97-08-01 H PUBLIC ACT.............................. 90-0297 END OF INQUIRY Full Text Bill Summary