Illinois Compiled Statutes 760 ILCS 3/104 – Knowledge
Current as of: 2024 | Check for updates
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(a) Except as provided in subsection (b), a person has knowledge of a fact if the person:
(1) has actual knowledge of it;
(2) has received a notice or notification of it; or
(3) from all the facts and circumstances known to
(1) has actual knowledge of it;
Terms Used In Illinois Compiled Statutes 760 ILCS 3/104
- individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
(2) has received a notice or notification of it; or
(3) from all the facts and circumstances known to
the person at the time in question, has reason to know it.
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(b) An organization that conducts activities through employees has notice or knowledge of a fact involving a trust only from the time the information was received by an employee having responsibility to act for the trust, or would have been brought to the employee’s attention if the organization had exercised reasonable diligence. An organization exercises reasonable diligence if it maintains reasonable routines for communicating significant information to the employee having responsibility to act for the trust and there is reasonable compliance with the routines. Reasonable diligence does not require an employee of the organization to communicate information unless the communication is part of the individual‘s regular duties or the individual knows a matter involving the trust would be materially affected by the information.