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(765 ILCS 405/2) (from Ch. 148, par. 72)
Sec. 2.
Whenever any trustee of a land trust, or any beneficiary or
beneficiaries of a land trust, make application to the State of Illinois or
to any of its agencies or political subdivisions for any benefit,
authorization, license or permit, relating to the land which is the subject
of such trust, any interest therein, improvements thereto, or use thereof,
such application shall identify each beneficiary of such land trust by name
and address and define his interest therein.
Each beneficiary shall be identified, regardless of the size of the
beneficiary's interest in the land trust. During the term of the lease, the
trustee shall file supplements to the application identifying (by name,
address, and interest) each beneficiary added or deleted. A beneficiary
identified in an application or supplement shall not be a nominee for another
individual or entity. The application also
shall specify whether the land trust currently owns the property that is the
subject of the lease.
All such applications and supplements shall be
verified by the applicant in his capacity as trustee, or by the beneficiary
as a beneficial owner of an interest in such land trust. If such
application or supplement is filed by a body politic or other corporate
entity it shall be
verified by a duly authorized officer of such body politic or other
corporate entity for whom the application is made.
If an application or supplement is with respect to a lease of property to
the State, the application or supplement shall be filed with the head of the
appropriate State agency at least 30 days before the lease is executed.
(Source: P.A. 88-174.)
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