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Illinois Statutes Chapter 765. Property § 420/4. Violations; penalties; liability for taxes and interest

Current as of January 01, 2025 | Updated by Findlaw Staff

§ 4. Any trustee who knowingly violates this Act is guilty of a Class C misdemeanor and shall be liable to the State and any unit of local government for any taxes which would have been payable to the State or the unit of local government had the trustee complied with this Act, plus 20% interest on such amount, accruing from the date the trust document was executed.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 765. Property § 420/4. Violations; penalties; liability for taxes and interest - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-765-property/il-st-sect-765-420-4/

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