No trustees or successor trustee shall serve for more than 3 consecutive years unless he is reappointed by a majority of the beneficiaries.
215 ILCS 150/12
No trustees or successor trustee shall serve for more than 3 consecutive years unless he is reappointed by a majority of the beneficiaries
Known as the Religious and Charitable Risk Pooling Trust Act
The act spans §§ 215-150-1 to 215-150-9 (30 sections).
P.A. 80-530.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.