Illinois Compiled Statutes 225 ILCS 459/177 – Administrator, executor, or guardian
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Terms Used In Illinois Compiled Statutes 225 ILCS 459/177
- Appraisal: A determination of property value.
- Executor: A male person named in a will to carry out the decedent
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
If the ownership of an appraisal management company registered under this Act is held or contained in an estate subject to the control and supervision of an administrator, executor, or guardian appointed, approved, or by a court of the State of Illinois, having jurisdiction so to do, the administrator, executor, or guardian may, upon the entry of an order by the court granting leave to continue the operation of the appraisal management company, apply to the Secretary for a registration under this Act. If the administrator, executor, or guardian applies for an appraisal management company registration pursuant to this Section and complies with all of the provisions of this Act relating to the application for an appraisal management company registration, the Secretary may issue to the applicant an appraisal management company registration. An appraisal management company registration issued to an appraisal management company, for which an application for a registration is sought under this Section, if not previously surrendered, lapsed, or revoked, shall be surrendered, revoked, or otherwise terminated before a registration is issued pursuant to the application made under this Section.