(755 ILCS 5/21-2) (from Ch. 110 1/2, par. 21-2)
Sec. 21-2.
Investments; ward's estate.
(a) It is the duty of the
representative to invest the ward's money. A representative is chargeable
with interest at a rate equal to the rate on 90-day United
States Treasury Bills upon any money that the representative
wrongfully or negligently allows to remain uninvested after it
might have been invested. Reasonable sums of money retained uninvested
by the representative in order to pay for the current or imminent expenses
of the ward shall not be considered wrongfully or negligently uninvested.
(b) Upon receiving the approval of the court, a representative may hold
any investments,
or any increase thereof, received by the representative at the time
of the representative's appointment
or acquired by the ward,
although the investment is not otherwise authorized under this Act, and
the court has power
to direct the representative in connection therewith.
(c) A representative may invest only in the types of
property specified in Sections 21-2.01 through 21-2.15.
(Source: P.A. 90-796, eff. 12-15-98.)
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