Illinois Compiled Statutes 765 ILCS 425/2 – Notwithstanding any exculpatory provision in the trust instrument or …
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Terms Used In Illinois Compiled Statutes 765 ILCS 425/2
- Petty offense: A federal misdemeanor punishable by six months or less in prison. Source: U.S. Courts
- Trustee: A person or institution holding and administering property in trust.
Notwithstanding any exculpatory provision in the trust instrument or management agreement, a trustee, managing agent or any other person who violates this Act shall be guilty of a petty offense and fined $100 for each day of such violation.