Chapter 760, TRUSTS AND FIDUCIARIES

(760 ILCS 70/2) (from Ch. 32, par. 439.51) Sec. 2. Assignment to a fiduciary. A corporation making a transfer of a security upon assignment by the registered owner to a person described as a fiduciary in the assignment or known by the corporation to be a fiduciary is not bound to…

(760 ILCS 20/20) (from Ch. 110 1/2, par. 270) Sec. 20. Accounting by and Determination of Liability of Custodian. (a) A minor who has attained the age of 14 years, the minor's representative, an adult member of the minor's family, a transferor, or a transferor's representative ma…

(760 ILCS 20/21) (from Ch. 110 1/2, par. 271) Sec. 21. Termination of Custodianship. (a) The custodian shall transfer in an appropriate manner the custodial property (to the extent that it has not been used pursuant to this Act) to the minor or to the minor's estate upon the earl…

(760 ILCS 100/21) (from Ch. 21, par. 64.21) Sec. 21. Except as otherwise provided for in this Act, whenever the Comptroller is required to give notice to any applicant or licensee, such requirement shall be considered complied with if, within the time fixed herein, such notice is…

(760 ILCS 100/22) (from Ch. 21, par. 64.22) Sec. 22. Nothing in this Act shall be construed to impair the obligation of any existing contract. (Source: Laws 1947, p. 338.)

(760 ILCS 20/22) (from Ch. 110 1/2, par. 272) Sec. 22. Applicability. This Act applies to a transfer within the scope of Section 3 made after its effective date if: (1) the transfer purports to have been made under the Uniform Gifts to Minors Act of this State; or (2) the instrum…

(760 ILCS 20/23) (from Ch. 110 1/2, par. 273) Sec. 23. Effect on Existing Custodianships. (a) Any transfer of custodial property whether or not now defined in this Act made before the effective date of this Act is validated notwithstanding that there was no specific authority in …

(760 ILCS 100/23) (from Ch. 21, par. 64.23) Sec. 23. Every person having taken an oath or affirmation in any proceeding or matter wherein an oath is required by this Act, who shall swear wilfully, corruptly and falsely in a matter material to the issue or point in question, or sh…

(760 ILCS 100/24) (from Ch. 21, par. 64.24) Sec. 24. Whoever intentionally fails to deposit the required amounts into a trust provided for in this Act, intentionally and improperly withdraws or uses trust funds for his or her own benefit, or otherwise intentionally violates any p…

(760 ILCS 20/24) (from Ch. 110 1/2, par. 274) Sec. 24. Uniformity of Application and Construction. This Act shall be applied and construed to effectuate its general purpose to make uniform to the extent accepted by this State the law with respect to the subject of this Act among …

(760 ILCS 100/25) Sec. 25. Use of care funds. When a township or multi-township cemetery district takes over a cemetery or cemetery authority, the care fund and care fund expenditures continue to be subject to the provisions of this Act, and the township or multi-township cemeter…

(760 ILCS 100/26) Sec. 26. Abandoned or neglected cemeteries; clean-up. The Comptroller may administer a program for the purpose of cleaning up abandoned or neglected cemeteries located in Illinois. Administration of this program may include the Comptroller's issuance of grants f…

(760 ILCS 40/2a) (from Ch. 48, par. 39u1) Sec. 2a. No rule of law against perpetuities or suspension of the power of alienation of the title to property shall operate to invalidate any trust of the sort described in Section 1 of this Act heretofore created or attempted to be crea…

(760 ILCS 100/2a) (from Ch. 21, par. 64.2a) Sec. 2a. Powers and duties of cemetery authorities; cemetery property maintained by cemetery care funds. (a) With respect to cemetery property maintained by cemetery care funds, a cemetery authority shall be responsible for the performa…

(760 ILCS 45/3) (from Ch. 17, par. 2103) Sec. 3. Establishment of common trust fund. Any bank or trust company may, at and during such time as it is qualified to act as a fiduciary in this State, establish, maintain, and administer one or more common trust funds for the purpose o…

(760 ILCS 70/3) (from Ch. 32, par. 439.52) Sec. 3. Assignment by a fiduciary. A corporation making a transfer of a security upon assignment by a fiduciary: (a) may assume without inquiry that the assignment, even though to the fiduciary himself or to his nominee, is within his au…

(760 ILCS 51/3) Sec. 3. Standard of conduct in managing and investing institutional fund. (a) Subject to the intent of a donor expressed in a gift instrument, an institution, in managing and investing an institutional fund, shall consider the charitable purposes of the institutio…

(760 ILCS 40/3) (from Ch. 48, par. 39v) Sec. 3. If any provision of this Act or the application thereof is held invalid, such invalidity shall not affect other provisions or applications of the Act which can be given effect without the invalid provision or application, and to thi…

(760 ILCS 10/3) (from Ch. 17, par. 1753) Sec. 3. The provisions of the Civil Practice Law and all existing and future amendments of that Law and modifications thereof, and the Supreme Court Rules now or hereafter adopted in relation to that Law, shall apply to all proceedings her…

(760 ILCS 15/3) (from Ch. 30, par. 503) Sec. 3. Scope of Act; rules of administration. (a) This Act governs the ascertainment of income and principal and the apportionment of receipts and expenses in all cases where a trust is established unless otherwise stated hereinafter, to t…

(760 ILCS 20/3) (from Ch. 110 1/2, par. 253) Sec. 3. Scope and Jurisdiction. (a) This Act applies to a transfer that refers to this Act in the designation under Section 10(a) by which the transfer is made if at the time of the transfer, the transferor, the minor, or the custodian…

(760 ILCS 55/3) (from Ch. 14, par. 53) Sec. 3. "Trustee" means any person, individual, group of individuals, association, corporation, not-for-profit corporation, estate representative, or other legal entity holding property for or solicited for any charitable purpose; or any chi…

(760 ILCS 75/3) (from Ch. 17, par. 2053) Sec. 3. The fiduciary shall be liable for the acts of its nominee or the nominee of the clearing corporation, Federal Reserve Bank or other fiduciary, as the case may be, with respect to any security so registered or deposited and shall be…

(760 ILCS 100/3) (from Ch. 21, par. 64.3) Sec. 3. Gifts and contributions - Trust funds. Any cemetery authority is hereby authorized and empowered to accept any gift, grant, contribution, payment, legacy, or pursuant to contract, any sum of money, funds, securities or property of…

(760 ILCS 45/3.1) (from Ch. 17, par. 2104) Sec. 3.1. Participation by affiliates.) Any bank or trust company may include for the purpose of collective investment in any common trust fund or funds established, maintained and administered by it, funds held by an affiliate in its ca…

(760 ILCS 100/3a) (from Ch. 21, par. 64.3a) Sec. 3a. Loans to private cemeteries. Except upon written approval of the Comptroller, no loan or investment of any care funds by any cemetery authority owning, operating, controlling or managing a privately operated cemetery, or by any…

(760 ILCS 55/4) (from Ch. 14, par. 54) Sec. 4. (a) This Act does not apply to the United States, any State, territory or possession of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or to any of their agencies or to any governmental subdivision; or …

(760 ILCS 100/4) (from Ch. 21, par. 64.4) Sec. 4. Care funds; deposits; investments. Whenever a cemetery authority owning, operating, controlling or managing a privately operated cemetery accepts care funds, either in connection with the sale or giving away at an imputed value of…

(760 ILCS 51/4) Sec. 4. Appropriation for expenditure or accumulation of endowment fund; rules of construction. (a) Subject to the intent of a donor expressed in the gift instrument, an institution may appropriate for expenditure or accumulate so much of an endowment fund as the …

(760 ILCS 15/4) (from Ch. 30, par. 504) Sec. 4. Income and Principal Defined. (a) Income is the return in money or property derived from the use of principal, including return received as: (1) rent of real or personal property, including sums received for cancellation or renewal …

(760 ILCS 65/4) (from Ch. 17, par. 2004) Sec. 4. If any negotiable instrument payable or indorsed to a fiduciary as such is indorsed by the fiduciary, or if any negotiable instrument payable or indorsed to his principal is indorsed by a fiduciary empowered to indorse such instrum…

(760 ILCS 75/4) (from Ch. 17, par. 2054) Sec. 4. The provisions of this Act shall apply to all trusts, estates and other fiduciary accounts, including those heretofore at any time created or established, as well as those created or established on and after the effective date of t…

(760 ILCS 70/4) (from Ch. 32, par. 439.53) Sec. 4. Adverse claims. If a person having or asserting a claim of beneficial interest adverse to the transfer of a security from a fiduciary delivers written notice of the claim to the corporation before the transfer, the corporation sh…

(760 ILCS 45/4) (from Ch. 17, par. 2105) Sec. 4. Written plan.) Each common trust fund shall be established, administered and maintained in accordance with a written declaration of trust, herein referred to as the "plan", prepared by the bank or trust company and approved by reso…

(760 ILCS 10/4) (from Ch. 17, par. 1754) Sec. 4. Upon a hearing on the complaint the court may: (a) Enter an order suspending the exercise by the trustee of his powers and duties while he is in war service and until the further order of the court. (b) Appoint a temporary trustee …

(760 ILCS 20/4) (from Ch. 110 1/2, par. 254) Sec. 4. Nomination of Custodian. (a) A person having the right to designate the recipient of property transferable upon the occurrence of a future event may revocably nominate a custodian to receive the property for a minor beneficiary…

(760 ILCS 45/5) (from Ch. 17, par. 2106) Sec. 5. Management of the common trust funds. Title to all assets of the common trust fund shall, at all times, be vested in the bank or trust company, as trustee of the common trust fund, and such assets shall be deemed to be held by the …

(760 ILCS 20/5) (from Ch. 110 1/2, par. 255) Sec. 5. Transfer by Gift or Exercise of Power of Appointment. A person may make a transfer by irrevocable gift to, or the irrevocable exercise of a power of appointment in favor of, a custodian for the benefit of a minor pursuant to Se…

(760 ILCS 65/5) (from Ch. 17, par. 2005) Sec. 5. If a check or other bill of exchange is drawn by a fiduciary as such, or in the name of his principal by a fiduciary empowered to draw such instrument in the name of his principal, the payee is not bound to inquire whether the fidu…

(760 ILCS 10/5) (from Ch. 17, par. 1755) Sec. 5. When his war service is terminated, the court shall upon a petition therefor order the reinstatement of the trustee and remove the temporary trustee. (Source: Laws 1943, vol. 1, p. 1367.)

(760 ILCS 55/5) (from Ch. 14, par. 55) Sec. 5. Registration requirement. (a) The Attorney General shall establish and maintain a register of trustees subject to this Act and of the particular trust or other relationship under which they hold property for charitable purposes and, …

(760 ILCS 100/5) (from Ch. 21, par. 64.5) Sec. 5. No cemetery authority, nor any agent, servant, or employee of it, nor any other person, shall advertise, represent, guarantee, promise, or contract that perpetual care, permanent care, perpetual or permanent maintenance, care fore…

(760 ILCS 15/5) (from Ch. 30, par. 505) Sec. 5. When right to income commences and terminates. (a) An income beneficiary is entitled to income from the date or event specified in the instrument, or, if none is specified, from the date an asset becomes subject to the trust. In the…

(760 ILCS 51/5) Sec. 5. Delegation of management and investment functions. (a) Subject to any specific limitation set forth in a gift instrument or in law other than this Act, an institution may delegate to an external agent the management and investment of an institutional fund …

(760 ILCS 70/5) (from Ch. 32, par. 439.54) Sec. 5. Non-liability of corporation. A corporation making a transfer of a security under this Act incurs no liability to any person. (Source: Laws 1957, p. 247.)

(760 ILCS 55/5A) (from Ch. 14, par. 55A) Sec. 5A. Organizations that have been approved for participation under the Voluntary Payroll Deductions Act of 1983 shall be reported to the Attorney General by the Comptroller no later than May 1 of each year. (Source: P.A. 87-755.)…

(760 ILCS 70/5a) (from Ch. 32, par. 439.54a) Sec. 5a. Non-liability of third persons. No person who participates in the acquisition, disposition, assignment or transfer of a security by or to a fiduciary including a person who guarantees the signature of the fiduciary is liable f…

(760 ILCS 15/6) (from Ch. 30, par. 506) Sec. 6. Administration of a decedent's estate. (a) Subject to subsection (b), all expenses incurred in connection with the settlement of a decedent's estate, including debts, funeral expenses, estate taxes, family allowances, fees of attorn…

(760 ILCS 51/6) Sec. 6. Release or modification of restrictions on management, investment, or purpose. (a) If the donor consents in a record, an institution may release or modify, in whole or in part, a restriction contained in a gift instrument on the management, investment, or …

(760 ILCS 45/6) (from Ch. 17, par. 2107) Sec. 6. Participation in common trust fund.) The bank or trust company shall designate clearly upon its records the names of the fiduciary accounts on behalf of which the bank or trust company, or any affiliate thereof, as fiduciary or co-…