Fabio
107 lines
7.2 KiB
Markdown
107 lines
7.2 KiB
Markdown
---
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type: "Bill"
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title: "FIN REG-AFFILIATES"
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description: "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."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "96th"
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identifier: "SB 1332"
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citation: "Illinois SB 1332 (96th)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: []
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version_count: 3
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action_count: 46
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vote_count: 3
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first_action: "2009-02-10"
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last_action: "2010-07-29"
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source: "openstates"
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source_identifier: "ocd-bill/4d23cd5c-1a40-459e-8fea-7443e7e1f7c6"
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source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=1332&GAID=10&DocTypeID=SB&LegId=42428&SessionID=76&GA=96"
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source_hash: "2580ce0be1519734871c92ce1ac3d0f2dadf5b1b8b5c9887bda7bd7dc4cd7fb8"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-il"]
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---
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# Illinois SB 1332 (96th) — FIN REG-AFFILIATES
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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.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09600SB1332&GA=96&SessionId=76&DocTypeId=SB&LegID=42428&DocNum=1332&GAID=10&Session=&print=true)
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2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09600SB1332eng&GA=96&SessionId=76&DocTypeId=SB&LegID=42428&DocNum=1332&GAID=10&Session=&print=true)
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3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09600SB1332enr&GA=96&SessionId=76&DocTypeId=SB&LegID=42428&DocNum=1332&GAID=10&Session=&print=true)
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## Votes
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- Concurrence — **57–0** (pass) · upper
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- Third Reading — **117–0** (pass) · lower
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- Third Reading — **56–0** (pass) · upper
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## Sponsors
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- Kirk W. Dillard — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2009-02-10** Filed with Secretary by Sen. Kirk W. Dillard `filing`
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- **2009-02-10** First Reading `reading-1`
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- **2009-02-10** Referred to Assignments `referral-committee`
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- **2009-02-18** Assigned to Financial Institutions `referral-committee`
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- **2009-02-26** Added as Chief Co-Sponsor Sen. Kimberly A. Lightford
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- **2009-02-27** Do Pass Financial Institutions; 011-000-000 `committee-passage`
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- **2009-02-27** Placed on Calendar Order of 2nd Reading March 4, 2009
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- **2009-03-05** Second Reading `reading-2`
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- **2009-03-05** Placed on Calendar Order of 3rd Reading March 6, 2009
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- **2009-03-26** Added as Chief Co-Sponsor Sen. Donne E. Trotter
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- **2009-03-26** Third Reading - Passed; 056-000-000 `reading-3, passage`
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- **2009-03-26** Arrived in House `introduction`
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- **2009-03-26** Placed on Calendar Order of First Reading `reading-1`
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- **2009-04-02** Chief House Sponsor Rep. Mark H. Beaubien, Jr.
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- **2009-04-02** First Reading `reading-1`
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- **2009-04-02** Referred to Rules Committee `referral-committee`
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- **2009-04-14** Assigned to Executive Committee `referral-committee`
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- **2009-05-08** Rule 19(a) / Re-referred to Rules Committee `referral-committee`
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- **2010-04-26** Alternate Chief Sponsor Changed to Rep. Franco Coladipietro
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- **2010-04-26** Final Action Deadline Extended-9(b) May 7, 2010
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- **2010-04-26** Assigned to Higher Education Committee `referral-committee`
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- **2010-05-03** House Committee Amendment No. 1 Filed with Clerk by Higher Education Committee `amendment-introduction`
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- **2010-05-03** House Committee Amendment No. 1 Adopted in Higher Education Committee; by Voice Vote `amendment-passage`
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- **2010-05-03** Do Pass as Amended / Short Debate Higher Education Committee; 004-000-000 `committee-passage`
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- **2010-05-03** Placed on Calendar 2nd Reading - Short Debate
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- **2010-05-03** Second Reading - Short Debate `reading-2`
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- **2010-05-03** Held on Calendar Order of Second Reading - Short Debate `reading-2`
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- **2010-05-04** Added Alternate Chief Co-Sponsor Rep. Jay C. Hoffman
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- **2010-05-04** Added Alternate Chief Co-Sponsor Rep. Kevin A. McCarthy
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- **2010-05-04** Added Alternate Chief Co-Sponsor Rep. Robert Rita
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- **2010-05-04** Added Alternate Chief Co-Sponsor Rep. William D. Burns
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- **2010-05-04** Second Reading - Short Debate `reading-2`
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- **2010-05-04** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2010-05-05** Third Reading - Short Debate - Passed 117-000-000 `reading-3, passage`
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- **2010-05-05** Secretary's Desk - Concurrence House Amendment(s) 1
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- **2010-05-05** Placed on Calendar Order of Concurrence House Amendment(s) 1 - May 6, 2010
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- **2010-05-06** House Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Kirk W. Dillard `filing`
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- **2010-05-06** House Committee Amendment No. 1 Motion to Concur Referred to Assignments `referral-committee`
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- **2010-05-07** House Committee Amendment No. 1 Motion to Concur Assignments Referred to Executive `referral-committee`
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- **2010-05-07** House Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Executive; 012-000-000
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- **2010-05-07** House Committee Amendment No. 1 Senate Concurs 057-000-000
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- **2010-05-07** Passed Both Houses
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- **2010-06-04** Sent to the Governor `executive-receipt`
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- **2010-07-29** Governor Approved `executive-signature`
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- **2010-07-29** Effective Date July 29, 2010
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- **2010-07-29** Public Act . . . . . . . . . 96-1391 `became-law`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/4d23cd5c-1a40-459e-8fea-7443e7e1f7c6`. Confidence: reported (aggregated from official Illinois legislature records).
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