Illinois General Assembly - Illinois Compiled Statutes

Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.

760 ILCS 3/810

    (760 ILCS 3/810)
    (Text of Section before amendment by P.A. 103-977)
    Sec. 810. Recordkeeping and identification of trust property.

(a)  A trustee shall keep adequate records of the administration of the trust.

(b)  A trustee shall keep trust property separate from the trustee's own property.

(c)  Except as otherwise provided in subsection (d), a trustee not subject to federal or state banking regulation shall cause the trust property to be designated so that the interest of the trust, to the extent feasible, appears in records maintained by a party other than a trustee or beneficiary to whom the trustee has delivered the property.

(d)  If the trustee maintains records clearly indicating the respective interests, a trustee may invest as a whole the property of 2 or more separate trusts.

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

    (Text of Section after amendment by P.A. 103-977)
    Sec. 810. Recordkeeping and identification of trust property.
    (a) A trustee shall keep adequate records of the administration of the trust.
    (b) A trustee shall keep trust property separate from the trustee's own property.

(c) Except as otherwise provided in subsection (d), a trustee not subject to federal or state banking regulation shall cause the trust property to be designated so that the interest of the trust, to the extent feasible, appears in records maintained by a party other than a trustee or beneficiary to whom the trustee has delivered the property.

(d) If the trustee maintains records clearly indicating the respective interests, a trustee may invest as a whole the property of 2 or more separate trusts.

(e) A trustee shall maintain or cause to be maintained trust records for a minimum of 7 years after the dissolution of the trust.

(f) Prior to the destruction of trust records, a trustee shall conduct a reasonable search for any trust property that is presumptively abandoned or that has been reported and remitted to a state unclaimed property administrator.

(Source: P.A. 103-977, eff. 1-1-25.)