205 ILCS 620/1-4

(205 ILCS 620/1-4) (from Ch. 17, par. 1551-4)

Sec. 1-4. Effect on existing corporate fiduciaries. With respect to any existing corporate fiduciary:

(a) any existing certificate of authority shall continue in full force and effect except as provided in Section 1-3 of this Act;

(b) all existing appointments in any fiduciary capacity and any existing contracts by such corporate fiduciary shall continue in full force and effect; and

(c) no corporate fiduciary which holds a current and valid certificate of authority under this Act shall be required to submit an application to obtain a certificate of authority unless the certificate of authority of such corporate fiduciary subsequently shall have been relinquished or revoked and such corporate fiduciary thereafter seeks to again obtain a certificate of authority.

(Source: P.A. 85-858.)