30 ILCS 160/1
This Act may be cited as the Public Use Trust Act
This Act may be cited as the Public Use Trust Act. (Source: P.A. 87-550.)
Illinois Compiled Statutes 30 ILCS 160 — Public Use Trust Act.
Illinois · statute · 30 ILCS 160 · 4 active provisions
30 ILCS 160/2
(a) The Department of Agriculture, the Department of Natural Resources, and the Abraham Lincoln Presidential Library and Museum have the power to enter into a trust agreement with a person or group of persons under which the State agency may receive or collect money or other property from the person or group of persons…
30 ILCS 160/3
The Auditor General shall audit every trust created under this Act from time to time as deemed necessary by the Auditor General
The Auditor General shall audit every trust created under this Act from time to time as deemed necessary by the Auditor General. The State Comptroller shall prescribe any rules or guidelines deemed necessary for the administration, regulation, or operation of these trusts. (Source: P.A. 87-550.)
30 ILCS 160/4
If a State agency listed in Section 2, as trustee, violates its fiduciary duty under the trust agreement, any person who is a party to the trust agreement may bring suit in circuit court to enforce the terms of the trust. (Source: P.A. 87-550.)