Illinois Compiled Statutes 775 ILCS 5/7-111 – Public Grants; Private Gifts) The Department is authorized to accept …
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Terms Used In Illinois Compiled Statutes 775 ILCS 5/7-111
- Bequest: Property gifted by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Public Grants; Private Gifts) The Department is authorized to accept public grants and private gifts and bequests so long as the conditions of the grant, gift or bequest are not inconsistent with the purposes of this Act.