Illinois General Assembly - Illinois Compiled Statutes

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805 ILCS 110/43

(805 ILCS 110/43) (from Ch. 32, par. 172)

Sec. 43.

The trustees shall have the care, custody and control of the real and
personal property of the corporation, subject to the direction of the
congregation, church or society, and may, when directed by the
congregation, church or society, erect houses or buildings and
improvements, and repair and alter the same, and may, when so directed,
mortgage, incumber, sell and convey any real or personal estate of such
corporation, and enter into all lawful contracts in the name of and in
behalf of such corporation: but no mortgage, incumbrance, sale
or conveyance shall be made of any such estate, so as to defeat or destroy
the effect of any gift, grant or legacy which
may be made to such
corporation; but all such gifts, grants and legacies
shall be
appropriated and used as directed or intended by the person or persons
making the same. 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.)