Current as of January 01, 2019 | Updated by FindLaw Staff
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§ 102. Scope. 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.
Cite this article: FindLaw.com - Illinois Statutes Chapter 760. Trusts and Fiduciaries § 3/102. Scope - last updated January 01, 2019 | https://codes.findlaw.com/il/chapter-760-trusts-and-fiduciaries/il-st-sect-760-3-102/
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