Sec. 102. Scope.
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/il/chapter-760/act-3/102A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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 mortgage;
(4)liquidation trust;
(5)escrow;
(6)instrument under which a nominee, custodian for property, or paying or receiving
agent is appointed;
(7)trust created by a deposit arrangement in a 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
(8)Grain Indemnity Trust Account or any other trust created under the Grain Code.