Illinois § 2-4.5

§ 2-4.5.

Exemptions. For the purposes of this Act, a person does not engage in the trust business by: (1) the rendering of fiduciary services by an attorney-at-law admitted to the practice of law in this State; (2) rendering services as a certified or registered public accountant in the performance of duties as such; (3) acting as a trustee or receiver in bankruptcy; (4) engaging in the business of an escrow agent; (5) receiving rents and proceeds of sale as a licensed real estate broker on behalf of the principal; (6) acting as trustee under a deed of trust made only as security for the payment of money or for the performance of another act; (7) acting in accordance with its authorized powers as a religious, charitable, educational, or other not-for-profit corporation or as a charitable trust or as an unincorporated religious organization; (8) engaging in securities transactions as a dealer or salesman; (9) acting as either a receiver under the supervision of a court or as an assignee for the benefit of creditors under the supervision of a court; or (10) engaging in such other activities that the Commissioner may prescribe by rule. (Source: P.A. 89-364, eff. 8-18-95.)