Illinois General Assembly - Illinois Compiled Statutes

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805 ILCS 110/41

(805 ILCS 110/41) (from Ch. 32, par. 170)

Sec. 41.

Upon the incorporation of any congregation, church or society, all real
and personal property held by any person or trustees for the use of the
members thereof, shall immediately vest in such corporation and be subject
to its control, and may be used, mortgaged, sold and conveyed the same as
if it had been conveyed to such corporation by deed; but no such conveyance
or mortgage shall be made so as to affect or destroy the intent or effect
of any grant, legacy or donation that may be made to such
person or trustee
for the use of such congregation, church or society. However, this
limitation on the disposition of real or personal property does not apply
to the extent that a restriction imposed by a donor on the use of an
institutional fund may be released by the governing board of an institution
under the Uniform Prudent Management of Institutional Funds Act.

(Source: P.A. 96-29, eff. 6-30-09.)