(65 ILCS 5/11-52.1-4) (from Ch. 24, par. 11-52.1-4)
Sec. 11-52.1-4.
Whenever any money or other property has been or may
hereafter be given or bequeathed to the board of managers of any
municipal cemetery owned or controlled by any city or village for the
purpose of maintaining any lot in the cemetery, or for the purpose of
maintaining the cemetery, as provided in this Division 52.1, the municipal
authorities may by ordinance provide for the appointment of any corporation
authorized to do trust business as trustee of such money or property, in
place of the treasurer of the board of managers. The corporate trustee so
appointed shall have the same powers, authority and duties with regard to
the administration of the trust funds as are provided herein for the
treasurer of the board of managers except that it shall not be required to
execute a bond and may charge for its services as trustee such amounts as
may be agreed upon from time to time with the municipal authorities. The
corporate trustee so appointed shall have the power to invest the trust
funds in any investment authorized by the law of Illinois as proper
fiduciary investments. The trustee, however, may retain any property given
or bequeathed to it in trust even though such property may not be a
legal investment under the laws of Illinois.
The board of managers may from time to time establish the minimum amount
which will be received by gift or legacy for the use and
maintenance of any lot in the cemetery, subject to the approval by the
municipal authorities.
(Source: P.A. 83-388.)
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