Illinois Compiled Statutes 765 ILCS 405 — Land Trust Beneficial Interest Disclosure Act.

Short title

Short title. This Act may be cited as the Land Trust Beneficial Interest Disclosure Act. (Source: P.A. 86-1324.)

Definitions

Definitions. As used in this Act: "Beneficial interest" means any interest, regardless of how small or minimal such interest may be, in a land trust, held by a trustee for the benefit of beneficiaries of such land trust. "Beneficiary" means any person, body politic, corporate or other entity having a beneficial interes…

Whenever any trustee of a land trust, or any beneficiary or beneficiaries of a land trust, make application to the State of Illinois or to any of its agencies or political subdivisions for any benefit, authorization, license or permit, relating to the land which is the subject of such trust, any interest therein, impro…

(a) No grant funds shall be paid to any trustee of a land trust, or any beneficiary or beneficiaries of a land trust, for any purpose relating to the land which is the subject of such trust, any interest in such land, improvements to such land or use of such land unless the grant agreement authorizes the grantee to ent…

False verification - Perjury

False verification - Perjury. Whoever, in swearing to, or affirming, an application or statement as required under this Act, makes a false statement as to the identification of beneficiaries of a land trust, or which is material to an issue or point in question in such application or statement, or who, having taken a l…