IL SB3204

Amends the Illinois Power of Attorney Act to specify that certain financial institution agreements are excluded from power of attorney law when they do not include a durable power of attorney surviving the principal's incapacity.

Exempts eight categories of agreements from power of attorney requirements, including proxies for voting rights, specific asset transfers, government filings, account-specific authorizations, collateral agreements, corporate role agreements, entity governance documents, and service of process authorizations.

Clarifies that excluded financial institution agreements are not "nonstatutory property powers" under existing law and applies the exemption to all agreements whenever executed.

Takes effect immediately upon becoming law.