Illinois SB 83: REVENUE-TECH

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 Full Text of SB0083

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 Senate Amendment 001 
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SB0083 EnrolledLRB104 02999 LNS 13017 b

1 AN ACT concerning civil law.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Probate Act of 1975 is amended by changing 

5Section 25-1 as follows:

6 (755 ILCS 5/25-1) (from Ch. 110 1/2, par. 25-1)

7 Sec. 25-1. Payment or delivery of small estate of decedent 

8upon affidavit.

9 (a) When any person, corporation, or financial institution 

10(1) indebted to or holding personal estate of a decedent, (2) 

11controlling the right of access to decedent's safe deposit box 

12or (3) acting as registrar or transfer agent of any evidence of 

13interest, indebtedness, property or right is furnished with a 

14small estate affidavit in substantially the form hereinafter 

15set forth, that person, corporation, or financial institution 

16shall pay the indebtedness, grant access to the safe deposit 

17box, deliver the personal estate or transfer or issue the 

18evidence of interest, indebtedness, property or right to 

19persons and in the manner specified in the affidavit or to an 

20agent appointed as hereinafter set forth.

21 (a-5) The small estate affidavit set forth in subsection 

22(b) may be used to transfer personal property in a decedent's 

23estate if:

SB0083 Enrolled- 2 -LRB104 02999 LNS 13017 b

1 (1) no letters of office are outstanding on the 

2 decedent's estate and no petition for letters is 

3 contemplated or pending in this State or in any other 

4 jurisdiction; and

5 (2) the decedent's personal estate passing to any 

6 party by intestacy or under a will is limited to:

7 (A) exc