Illinois General Assembly - Illinois Compiled Statutes

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760 ILCS 3/102

(760 ILCS 3/102)

Sec. 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.

(Source: P.A. 101-48, eff. 1-1-20.)