Illinois Compiled Statutes 760 ILCS 3/1103 – Conversion by agreement
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Terms Used In Illinois Compiled Statutes 760 ILCS 3/1103
- Trustee: A person or institution holding and administering property in trust.
Conversion to a total return trust may be made by agreement between a trustee and all qualified beneficiaries. The agreement may include any actions a court could properly order under Section 1104; however, any distribution percentage determined by the agreement may not be less than 3% nor greater than 5%.
