(735 ILCS 5/2-1404) (from Ch. 110, par. 2-1404)
Sec. 2-1404.
Preservation of trust estates.
In all cases where a
trustee has been or shall be appointed by order of a circuit court, such
court has authority
to authorize the payment of interest on any mortgage which is a lien upon
the trust estate, to authorize the payment of taxes and assessments levied
upon or assessed against the trust estate, to authorize the payment of
the insurance premiums on any policy of insurance on the buildings and personal
property of the trust estate, and to authorize the making of repairs and
the payment therefor, when it appears for the best interests of the estate;
and where a trustee has paid any such interest, taxes, assessments,
insurance premiums, or for repairs, and it appears that such payments
were for the best interests of the estate and the protection and
preservation thereof, the court, on application or by report, has authority
to approve such payments.
(Source: P.A. 84-621.)
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