Illinois § 102 Scope

Illinois Statutes

§ 102 — Scope

Illinois·Topic RIGHTS AND REMEDIES·Ch. 760 TRUSTS AND FIDUCIARIES·Act 760 ILCS 3/ Illinois Trust Code.·Art. Article 1 - General Provisions and Definitions

Except as otherwise provided, this Code applies to express trusts, charitable or noncharitable, and trusts created pursuant to a statute, judgment, or decree that requires the trust to be administered in the manner of an express trust. This Code does not apply to any:

(1)land trust;

(2)voting trust;

(3)security instrument such as a trust deed or mortgage;

(4)liquidation trust;

(5)escrow;

(6)instrument under which a nominee, custodian for property, or paying or receiving agent is appointed;

(7)trust created by a deposit arrangement in a banking or savings institution, commonly known as a "Totten trust" unless in the trust instrument any of the provisions of this Code are made applicable by specific reference; or (8) Grain Indemnity Trust Account or any other trust created under the G

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Except as otherwise provided, this Code applies to express trusts, charitable or noncharitable, and trusts created pursuant to a statute, judgment, or decree that requires the trust to be administered in the manner of an express trust. This Code does not apply to any: (1) land trust; (2) voting trust; (3) security instrument such as a trust deed or mortgage; (4) liquidation trust; (5) escrow; (6) instrument under which a nominee, custodian for property, or paying or receiving agent is appointed; (7) trust created by a deposit arrangement in a banking or savings institution, commonly known as a "Totten trust" unless in the trust instrument any of the provisions of this Code are made applicable by specific reference; or (8) Grain Indemnity Trust Account or any other trust created under the Grain Code.

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