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Current as of January 01, 2025 | Updated by Findlaw Staff
§ 17. Any trustee who with malice and without lawful authority, in violation of the trust purposes or by intentional breach of fiduciary duty, intentionally disburses or causes charitable trust funds to be used for his personal benefit or personal use in an amount in excess of $1,000 within a 5 year period is guilty of a Class 2 felony and is subject to punitive damages up to or equal to the amount misused and is subject to a civil penalty of up to $50,000 for each intentional knowing violation.
Cite this article: FindLaw.com - Illinois Statutes Chapter 760. Trusts and Fiduciaries § 55/17. Prohibition against personal benefit or use of funds - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-760-trusts-and-fiduciaries/il-st-sect-760-55-17/
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