Illinois Compiled Statutes 760 ILCS 3/707 – Delivery of property by former trustee
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(a) Unless a co-trustee remains in office or the court otherwise orders, and until the trust property is delivered to a successor trustee or other person entitled to it, a trustee who has resigned or been removed has the duties of a trustee and the powers necessary to protect the trust property.
(b) A trustee who has resigned or been removed shall proceed expeditiously to deliver the trust property within the trustee’s possession to the co-trustee, successor trustee, or other person entitled to it.
(b) A trustee who has resigned or been removed shall proceed expeditiously to deliver the trust property within the trustee’s possession to the co-trustee, successor trustee, or other person entitled to it.
Terms Used In Illinois Compiled Statutes 760 ILCS 3/707
- Trustee: A person or institution holding and administering property in trust.