2019 Illinois Compiled Statutes
Chapter 760 - TRUSTS AND FIDUCIARIES
760 ILCS 3/ - Illinois Trust Code.
Article 15 - Miscellaneous Provisions

(760 ILCS 3/Art. 15 heading)

(760 ILCS 3/1501)
(This Section may contain text from a Public Act with a delayed effective date)
Sec. 1501. Uniformity of application and construction. In applying and construing this Code, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact comparable provisions of the Uniform Trust Code.
(Source: P.A. 101-48, eff. 1-1-20.)

(760 ILCS 3/1502)
(This Section may contain text from a Public Act with a delayed effective date)
Sec. 1502. Severability. If any provision of this Code or its application to any person or circumstances is held invalid, the invalidity does not affect other provisions or applications of this Code which can be given effect without the invalid provision or application, and to this end the provisions of this Code are severable.
(Source: P.A. 101-48, eff. 1-1-20.)

(760 ILCS 3/1503)
(This Section may contain text from a Public Act with a delayed effective date)
Sec. 1503. Rights retained by Attorney General. Nothing in this Code is intended to derogate any right the Attorney General has under the common law of this State to represent a charitable interest in trust. Nothing in this Code relieves a trustee of duties to file documents under, and otherwise comply with, the Charitable Trust Act or the Solicitation for Charity Act.
(Source: P.A. 101-48, eff. 1-1-20.)

(760 ILCS 3/1504)
(This Section may contain text from a Public Act with a delayed effective date)
Sec. 1504. (See Section 9999 for effective date.)
(Source: P.A. 101-48, eff. 1-1-20.)

(760 ILCS 3/1505)
(This Section may contain text from a Public Act with a delayed effective date)
Sec. 1505. The Trusts and Trustees Act is repealed.
(Source: P.A. 101-48, eff. 1-1-20.)

(760 ILCS 3/1505.1)
(This Section may contain text from a Public Act with a delayed effective date)
Sec. 1505.1. The Trusts and Dissolutions of Marriage Act is repealed.
(Source: P.A. 101-48, eff. 1-1-20.)

(760 ILCS 3/1505.2)
(This Section may contain text from a Public Act with a delayed effective date)
Sec. 1505.2. The Uniform Powers of Appointment Act is repealed.
(Source: P.A. 101-48, eff. 1-1-20.)

(760 ILCS 3/1505.3)
(This Section may contain text from a Public Act with a delayed effective date)
Sec. 1505.3. The Statute Concerning Perpetuities is repealed.
(Source: P.A. 101-48, eff. 1-1-20.)

(760 ILCS 3/1505.4)
(This Section may contain text from a Public Act with a delayed effective date)
Sec. 1505.4. The Perpetuities Vesting Act is repealed.
(Source: P.A. 101-48, eff. 1-1-20.)

(760 ILCS 3/1505.5)
(This Section may contain text from a Public Act with a delayed effective date)
Sec. 1505.5. The Trust Accumulation Act is repealed.
(Source: P.A. 101-48, eff. 1-1-20.)

(760 ILCS 3/1506)
(This Section may contain text from a Public Act with a delayed effective date)
Sec. 1506. Application to existing relationships. Except as otherwise provided in this Code, on the effective date of this Code:
(1) This Code applies to all trusts created before,

on, or after its effective date.

(2) This Code applies to all judicial proceedings

concerning trusts commenced on or after its effective date. As used in this Section, "judicial proceedings" includes any proceeding before a court or administrative tribunal of this State and any arbitration or mediation proceedings.

(3) This Code applies to all nonjudicial matters

concerning trusts commenced before, on, or after its effective date. As used in this Section, "nonjudicial matters" includes, but is not limited to, nonjudicial settlement agreements entered into under Section 111 and the grant of any consent, release, ratification, or indemnification.

(4) This Code applies to judicial proceedings

concerning trusts commenced before its effective date unless the court finds that application of a particular provision of this Code would substantially interfere with the effective conduct of the judicial proceedings or prejudice the rights of the parties, in which case the particular provision of this Code does not apply and the superseded law applies.

(5) Any rule of construction or presumption provided

in this Code applies to trust instruments executed before the effective date of this Code unless there is a clear indication of a contrary intent in the trust instrument.

(6) An act done before the effective date of this

Code is not affected by this Code.

(7) If a right is acquired, extinguished, or barred

upon the expiration of a prescribed period that has commenced to run under any other statute before the effective date of this Code, that statute continues to apply to the right even if it has been repealed or superseded.

(8) This Code shall be construed as pertaining to

administration of a trust and applies to any trust that is administered in Illinois under Illinois law or that is governed by Illinois law with respect to the meaning and effect of its terms, except to the extent the trust instrument expressly prohibits use of this Code by specific reference to this Code.

(Source: P.A. 101-48, eff. 1-1-20.)