IL SB1332 | 2009-2010 | 96th General Assembly
Status
Completed Legislative Action
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Passed on July 29 2010 - 100% progression
Action: 2010-07-29 - Public Act . . . . . . . . . 96-1391
Text: Latest bill text (Enrolled) [HTML]
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Passed on July 29 2010 - 100% progression
Action: 2010-07-29 - Public Act . . . . . . . . . 96-1391
Text: Latest bill text (Enrolled) [HTML]
Summary
Amends the Corporate Fiduciary Act. Adds provisions concerning investments and participation by affiliates of any bank or trust company acting in its fiduciary capacity. Provides that any bank or trust company may purchase services or products from an affiliate, provided that the purchase is otherwise prudent and not prohibited by the instrument governing the fiduciary relationship. Provides that the compensation for the service or product may be in addition to the compensation that the bank or 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 authorized by the new provisions. Provides that the new provisions apply to any bank or trust company doing banking or trust business in this State, including any national bank or national trust company or any of its affiliates.
Title
FIN REG-AFFILIATES
Sponsors
Roll Calls
2010-05-07 - Senate - Concurrence in Senate (Y: 57 N: 0 NV: 2 Abs: 0) [PASS]
2010-05-05 - House - Third Reading in House (Y: 117 N: 0 NV: 1 Abs: 0) [PASS]
2009-03-26 - Senate - Third Reading in Senate (Y: 51 N: 0 NV: 3 Abs: 0) [PASS]
2010-05-05 - House - Third Reading in House (Y: 117 N: 0 NV: 1 Abs: 0) [PASS]
2009-03-26 - Senate - Third Reading in Senate (Y: 51 N: 0 NV: 3 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2010-07-29 | Public Act . . . . . . . . . 96-1391 | |
| 2010-07-29 | Effective Date July 29, 2010 | |
| 2010-07-29 | Governor Approved | |
| 2010-06-04 | Sent to the Governor | |
| 2010-05-07 | Passed Both Houses | |
| 2010-05-07 | House Committee Amendment No. 1 Senate Concurs 057-000-000 | |
| 2010-05-07 | House Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Executive; 012-000-000 | |
| 2010-05-07 | House Committee Amendment No. 1 Motion to Concur Assignments Referred to Executive | |
| 2010-05-06 | House Committee Amendment No. 1 Motion to Concur Referred to Assignments | |
| 2010-05-06 | House Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Kirk W. Dillard | |
| 2010-05-05 | Placed on Calendar Order of Concurrence House Amendment(s) 1 - May 6, 2010 | |
| 2010-05-05 | Secretary's Desk - Concurrence House Amendment(s) 1 | |
| 2010-05-05 | Third Reading - Short Debate - Passed 117-000-000 | |
| 2010-05-04 | Placed on Calendar Order of 3rd Reading - Short Debate | |
| 2010-05-04 | Second Reading - Short Debate | |
| 2010-05-04 | Added Alternate Chief Co-Sponsor Rep. William D. Burns | |
| 2010-05-04 | Added Alternate Chief Co-Sponsor Rep. Robert Rita | |
| 2010-05-04 | Added Alternate Chief Co-Sponsor Rep. Kevin A. McCarthy | |
| 2010-05-04 | Added Alternate Chief Co-Sponsor Rep. Jay C. Hoffman | |
| 2010-05-03 | Held on Calendar Order of Second Reading - Short Debate | |
| 2010-05-03 | Second Reading - Short Debate | |
| 2010-05-03 | Placed on Calendar 2nd Reading - Short Debate | |
| 2010-05-03 | Do Pass as Amended / Short Debate Higher Education Committee; 004-000-000 | |
| 2010-05-03 | House Committee Amendment No. 1 Adopted in Higher Education Committee; by Voice Vote | |
| 2010-05-03 | House Committee Amendment No. 1 Filed with Clerk by Higher Education Committee | |
| 2010-04-26 | Assigned to Higher Education Committee | |
| 2010-04-26 | Final Action Deadline Extended-9(b) May 7, 2010 | |
| 2010-04-26 | Alternate Chief Sponsor Changed to Rep. Franco Coladipietro | |
| 2009-05-08 | Rule 19(a) / Re-referred to Rules Committee | |
| 2009-04-14 | Assigned to Executive Committee | |
| 2009-04-02 | Referred to Rules Committee | |
| 2009-04-02 | First Reading | |
| 2009-04-02 | Chief House Sponsor Rep. Mark H. Beaubien, Jr. | |
| 2009-03-26 | Placed on Calendar Order of First Reading | |
| 2009-03-26 | Arrived in House | |
| 2009-03-26 | Third Reading - Passed; 056-000-000 | |
| 2009-03-26 | Added as Chief Co-Sponsor Sen. Donne E. Trotter | |
| 2009-03-05 | Placed on Calendar Order of 3rd Reading March 6, 2009 | |
| 2009-03-05 | Second Reading | |
| 2009-02-27 | Placed on Calendar Order of 2nd Reading March 4, 2009 | |
| 2009-02-27 | Do Pass Financial Institutions; 011-000-000 | |
| 2009-02-26 | Added as Chief Co-Sponsor Sen. Kimberly A. Lightford | |
| 2009-02-18 | Assigned to Financial Institutions | |
| 2009-02-10 | Referred to Assignments | |
| 2009-02-10 | First Reading | |
| 2009-02-10 | Filed with Secretary by Sen. Kirk W. Dillard |
