Illinois Statutes
§ 1103 — Conversion by agreement
Illinois·Topic RIGHTS AND REMEDIES·Ch. 760 TRUSTS AND FIDUCIARIES·Act 760 ILCS 3/ Illinois Trust Code.·Art. Article 11 - Total Return Trusts
Conversion to a total return trust may be made by agreement between a trustee and all qualified beneficiaries. The agreement may include any actions a court could properly order under Section 1104; however, any distribution percentage determined by the agreement may not be less than 3% nor greater than 5%.
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Legislative History
(Source: P.A. 101-48, eff. 1-1-20; 102-279, eff. 1-1-22 .)
Nearby Sections
15
§ 11.2
Service§ 1102
Conversion by trustee§ 1103
Conversion by agreement§ 1105
Post conversion§ 1106
Administration§ 1107
Allocations§ 1108
Restrictions§ 1109
Tax limitations§ 1110
Releases