Illinois Compiled Statutes 215 ILCS 150/8 – Every such trust fund shall have no fewer than 3 nor more than 30 …
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Illinois Compiled Statutes 215 ILCS 150/8
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
Every such trust fund shall have no fewer than 3 nor more than 30 trustees. No less than 2/3 of the trustees shall be officers, directors, trustees or full time employees of a beneficiary of the trust fund.