Illinois Statutes
§ 1110 — Releases
Illinois·Topic RIGHTS AND REMEDIES·Ch. 760 TRUSTS AND FIDUCIARIES·Act 760 ILCS 3/ Illinois Trust Code.·Art. Article 11 - Total Return Trusts
A trustee may irrevocably release the power granted by this Article if the trustee reasonably believes the release is in the best interests of the trust and its beneficiaries. The release may be personal to the releasing trustee or may apply generally to some or all subsequent trustees, and the release may be for any specified period, including a period measured by the life of an individual.
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Legislative History
(Source: P.A. 101-48, eff. 1-1-20 .)
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