POWER OF ATTY HONORING FORMS Senate SponsorsSen. Don Harmon House Sponsors(Rep. Jay Hoffman) 8/9/2024SenatePublic Act . . . . . . . . . 103-0994 755 ILCS 45/2-8from Ch. 110 1/2, par. 802-8Amends the Illinois Power of Attorney Act. Makes it unlawful for a third party to unreasonably refuse to honor a statutory short form power of attorney properly executed in accordance with the laws in effect at the time of its execution. Provides that it is unreasonable for a third party to refuse to honor a statutory short form power of attorney properly executed in accordance with the laws in effect at the time of its execution, if the only reason for the refusal is any of the following: (1) the power of attorney is not on a form the third party receiving such power prescribes regardless of any form the terms of any account agreement between the account holder and third party requires; (2) there has been a lapse of time since the execution of the power of attorney; (3) on the face of the statutory short form power of attorney, there is a lapse of time between the date of acknowledgment of the signature of the principal and the date of the acceptance by the agent; (4) the document provided does not bear an original signature, original witness, or original notarization but is accompanied by an attorney-certified copy; or (5) the document appoints an entity as the agent.Senate Committee Amendment No. 2 Replaces everything after the enacting clause with the following. Amends the Illinois Power of Attorney Act. Provides that it is unreasonable for a third party to refuse to honor an Illinois statutory short form power of attorney properly executed in accordance with the laws in effect at the time of its execution, if the only reason for the refusal is any of the following: (1) the power of attorney is not on a form required by the terms of any account agreement between the account holder and third party; (2) there has been a lapse of time since the execution of the power of attorney; (3) on the face of the statutory short form power of attorney, there is a lapse of time between the date of acknowledgment of the signature of the principal and the date of the acceptance by the agent; (4) the document provided does not bear an original signature, original witness, or original notarization but is accompanied by a properly executed Agent's Certification and Acceptance of Authority, Successor Agent's Certification and Acceptance of Authority, or Co-Agent's Certification and Acceptance of Authority bearing the original signature of the named agent; or (5) the document appoints an entity as the agent. Nothing in this Section shall be interpreted as prohibiting or limiting a third party from requiring the named agent to furnish a properly executed Agent's Certification and Acceptance of Authority, Successor Agent's Certification and Acceptance of Authority, or Co-Agent's Certification and Acceptance of Authority. Provides multiple reasons for which it shall be deemed reasonable cause for a third party to refuse to honor a power of attorney for property. 2/8/2024SenateFiled with Secretary by Sen. Ann Gillespie 2/8/2024SenateFirst Reading 2/8/2024SenateReferred to Assignments 2/20/2024SenateAssigned to Judiciary 2/28/2024SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Ann Gillespie 2/28/2024SenateSenate Committee Amendment No. 1 Referred to Assignments 3/1/2024SenateSenate Committee Amendment No. 2 Filed with Secretary by Sen. Ann Gillespie 3/1/2024SenateSenate Committee Amendment No. 2 Referred to Assignments 3/5/2024SenateSenate Committee Amendment No. 1 Pursuant to Senate Rule 3-8 (b-1) this amendment will stay in Assignments 3/5/2024SenateSenate Committee Amendment No. 2 Assignments Refers to Judiciary 3/5/2024SenateSenate Committee Amendment No. 2 Adopted 3/6/2024SenateDo Pass as Amended Judiciary; 008-000-000 3/6/2024SenatePlaced on Calendar Order of 2nd Reading March 7, 2024 3/14/2024SenateSecond Reading 3/14/2024SenatePlaced on Calendar Order of 3rd Reading March 20, 2024 4/9/2024SenateSenate Committee Amendment No. 1 Tabled Pursuant to Rule 5-4 (a) 4/9/2024SenateThird Reading - Passed; 055-000-000 4/9/2024HouseArrived in House 4/15/2024SenateChief Sponsor Changed to Sen. Don Harmon 4/15/2024HouseChief House Sponsor Rep. Jay Hoffman 4/15/2024HouseFirst Reading 4/15/2024HouseReferred to Rules Committee 4/24/2024HouseAssigned to Judiciary - Civil Committee 5/1/2024HouseDo Pass / Short Debate Judiciary - Civil Committee; 014-000-000 5/1/2024HousePlaced on Calendar 2nd Reading - Short Debate 5/16/2024HouseSecond Reading - Short Debate 5/16/2024HouseHeld on Calendar Order of Second Reading - Short Debate 5/17/2024HouseThird Reading/Final Action Deadline Extended-9(b) May 24, 2024 5/22/2024HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/22/2024HouseThird Reading - Short Debate - Passed 110-000-000 5/22/2024SenatePassed Both Houses 6/20/2024SenateSent to the Governor 8/9/2024SenateGovernor Approved 8/9/2024SenateEffective Date January 1, 2025 8/9/2024SenatePublic Act . . . . . . . . . 103-0994