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760 ILCS 55/6
(760 ILCS 55/6) (from Ch. 14, par. 56)
Sec. 6.
(a) Every trustee subject to this Act who has received property
for charitable purposes shall file and register with the Attorney General,
within 6 months after any part of the income or principal is received for
application to the charitable purpose, and prior to disbursements, a copy
of the trust agreement, articles of incorporation or other written
instrument, if any, providing for his title, powers or duties. In the event
a trustee subject to this Act is holding property for charitable purposes
under no such written instrument, such trustee nevertheless shall file, in
lieu of such instrument, a statement in writing setting forth his title,
powers and duties with respect to the property he is so holding. If any
part of the income or principal is authorized or required to be applied to
a charitable purpose, whether a remainder interest or charitable lead
interest, at the time this Act takes effect, the filing shall be made
within 6 months after the effective date of this Act.
Upon complying with the requirement of this Section, banks and trust
companies, authorized to accept and execute trusts in this State, and an
individual or individuals duly appointed, qualified and acting as
cofiduciary or cofiduciaries with any such bank or trust company, shall
be exempt from all other provisions and requirements of this Act, but
shall be required to annually file a copy of the federal Internal Revenue
report or return for the trust within the time of its federal due date,
with the Attorney General in lieu of other reporting.
(b) If the settlor is still living, any trust which is merely
registered because it is a charitable remainder interest or charitable lead
interest trust, and the charitable interest is not matured, whether
revocable or irrevocable, the trust may upon written request be registered
as a confidential registration. A confidential registration shall mean the
Attorney General shall hold the file confidentially and not make any
filings therein public, unless necessary and pursuant to litigation. The
Attorney General may, however, disclose a confidential registration file
for statistical reasons if all indications of name and identity are blocked
out, but at all times maintaining the confidentiality as required in this
subsection.
(Source: P.A. 87-755.)
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