(760 ILCS 3/102)
Sec. 102. Scope. Except as otherwise provided, this Code applies to express trusts, charitable or noncharitable, and trusts created pursuant to a statute, judgment, or decree that requires the trust to be administered in the manner of an express trust. This Code does not apply to any:
(1) land trust;
(2) voting trust;
(3) security instrument such as a trust deed or |
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(4) liquidation trust;
(5) escrow;
(6) instrument under which a nominee, custodian for
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| property, or paying or receiving agent is appointed;
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(7) trust created by a deposit arrangement in a
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| banking or savings institution, commonly known as a "Totten trust" unless in the trust instrument any of the provisions of this Code are made applicable by specific reference; or
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(8) Grain Indemnity Trust Account or any other trust
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| created under the Grain Code.
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(Source: P.A. 101-48, eff. 1-1-20 .)
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