(760 ILCS 3/819)
Sec. 819. Nominee registration. The trustee may cause stocks, bonds, and other real or personal property belonging to the trust to be registered and held in the name of a nominee without mention of the trust in any instrument or record constituting or evidencing title thereto. The trustee is liable for the acts of the nominee with respect to any investment so registered. The records of the trustee shall show at all times the ownership of the investment by the trustee, and the stocks, bonds, and other similar investments shall be in the possession and control of the trustee and be kept separate and apart from assets that are the individual property of the trustee.
(Source: P.A. 101-48, eff. 1-1-20.) |