§ 760 ILCS 51/1 Short title
§ 760 ILCS 51/2 Definitions
§ 760 ILCS 51/3 Standard of conduct in managing and investing institutional fund
§ 760 ILCS 51/4 Appropriation for expenditure or accumulation of endowment fund; rules of construction
§ 760 ILCS 51/5 Delegation of management and investment functions
§ 760 ILCS 51/6 Release or modification of restrictions on management, investment, or purpose
§ 760 ILCS 51/7 Reviewing compliance
§ 760 ILCS 51/8 Application to existing institutional funds
§ 760 ILCS 51/9 Relation to Electronic Signatures in Global and National Commerce Act
§ 760 ILCS 51/10 Uniformity of application and construction
§ 760 ILCS 51/10.1 Repeal
§ 760 ILCS 51/11 Effective date

Terms Used In Illinois Compiled Statutes > 760 ILCS 51 - Uniform Prudent Management of Institutional Funds Act

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Dependent: A person dependent for support upon another.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Trustee: A person or institution holding and administering property in trust.