ILCS » Chapter 760 · Act 65
Illinois Compiled Statutes

760 ILCS 65/1 (2026)

(1) In this Act unless the context or subject matter otherwise requires:     "Fiduciary" includes a trustee under any trust, expressed, implied, resulting or constructive executor, administrator, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer, or any other person acting in a fiduciary capacity for any person, trust or estate

✓ current as of May 2026
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(760 ILCS 65/1) (from Ch. 17, par. 2001)
    Sec. 1. (1) In this Act unless the context or subject matter otherwise requires:
    "Fiduciary" includes a trustee under any trust, expressed, implied, resulting or constructive executor, administrator, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer, or any other person acting in a fiduciary capacity for any person, trust or estate.
    "Person" includes a corporation, partnership, or other association, or two or more persons having a joint or common interest.
    "Principal" includes any person to whom a fiduciary as such owes an obligation.
    (2) A thing is done "in good faith" within the meaning of this Act, when it is in fact done honestly, whether it be done negligently or not.
(Source: Laws 1931, p. 676.)

    
Notes of Decisions
Cited in 14 cases (2 in the last 5 years), 1995–2023 · leading case: Time Savers, Inc. v. LaSalle Bank, NA, 863 N.E.2d 1156 (Ill. App. Ct. 2007).
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Time Savers, Inc. v. LaSalle Bank, NA, 863 N.E.2d 1156 (Ill. App. Ct. 2007). · cites it 3× “(LaSalle): (1) violation of the Illinois Fiduciary Obligations Act (Fiduciary Obligations Act) (760 ILCS 65/1 et seq. (West 2004)); (2) breach of contract; (3) common-law fraud; (4) conspiracy to defraud; and (5) aiding and abetting.”
Janowiak v. Tiesi, 932 N.E.2d 569 (Ill. App. Ct. 2010). “760 ILCS 65/1(1) (West 2006). The Act further specifies that “[i]n any case not provided for in this Act the rules of law and equity, including the law merchant and those rules of law and equity relating to trusts, agency, negotiable instruments and banking, shall continue to…”
Geimer v. Bank of Am., N.A., 784 F. Supp. 2d 926 (N.D. Ill. 2011). · cites it 2× “) Plaintiffs amended complaint presents a claim of breach of fiduciary duty purportedly based on the Illinois Fiduciary Obligations Act (“FOA”), 760 ILCS 65/1 et seq. (Count I); a claim of negligence (Count II); and a breach of contract claim (Count III).”
Praither v. Northbrook Bank & Trust Co., 2021 IL App (1st) 201192 (Ill. App. Ct. 2021). “On appeal, plaintiffs contend the court erred in dismissing their second- amended complaint where the complaint sufficiently pled facts that (1) defendant Northbrook failed to exercise ordinary care to protect plaintiffs from defendant Tamer Moumen’s fraud, (2) Northbrook was…”
West Bend Mut. Ins. Co v. Belmont State Corp., 712 F.3d 1030 (7th Cir. 2013). “” 760 ILCS 65/1(1). This is regrettably circular (a fiduciary is a person “acting in a fiduciary capacity”), but the idea seems to be that a fiduciary is a person with discretion to act on a principal’s behalf.”
Hawkins v. Voss, 2015 IL App (5th) 140001 (Ill. App. Ct. 2015). “Finally, the Corporate Fiduciary Act also defines "fiduciary" as a trustee: " 'Fiduciary' means trustee, executor, administrator, receiver, guardian, assignee for the benefit of creditors, or any holder of a similar position of trust.”
Law Offices of William J. Stogsdill v. Cragin Fed. Bank for Sav., 645 N.E.2d 564 (Ill. App. Ct. 1995). “Count II alleged a breach of the bank’s duty pursuant to the Fiduciary Obligations Act (760 ILCS 65/1 et seq. (West 1992)). Count III alleged that the bank’s conduct violated the Act.”
Lawyers Title Ins. Corp. v. Dearborn Title Corp., 904 F. Supp. 818 (N.D. Ill. 1995). “Because Lawyers Title has alleged only intentional torts by First Midwest, however, First Midwest may not seek contribution for its potential liability- As the Seventh Circuit has explained, a suit “under” the Uniform Fiduciaries Act (“UFA”), codified in Illinois as the…”
Crawford Supply Grp., Inc. v. Bank of Am., N.A., 829 F. Supp. 2d 636 (N.D. Ill. 2011). “760 ILCS 65/1, et seq. The purpose of that Act is to facilitate banking transactions and to place the onus on principals, rather than on banking institutions, to employ honest fiduciaries.”
Hawkins v. Voss, 2015 IL App (5th) 140001 (Ill. App. Ct. 2015). “Finally, the Corporate Fiduciary Act also defines “fiduciary” as a trustee: “ ‘Fiduciary’ means trustee, executor, administrator, receiver, guardian, assignee for the benefit of creditors, or any holder of a similar position of trust.” 205 ILCS 620/1-5.”
Detterbeck v. Detterbeck, 2019 IL App (1st) 181113-U (Ill. App. Ct. 2019). “See 760 ILCS 65/1(1) (West 2018) (Under the Fiduciary Obligations Act, a “fiduciary” includes a trustee under any trust.”
Lawyers Title Ins. v. Dearborn Title Corp., 993 F. Supp. 1159 (N.D. Ill. 1998). “Lawyers Title argues that because First Midwest knew that Dearborn held those funds in trust for others in its escrow account, First Midwest is liable for Dear-born’s actions under the- Illinois Fiduciary Obligations Act (“IFOA”), 760 ILCS 65/1 et seq., and the Illinois Uniform…”
Show all 14 citing cases →
— 760 ILCS 65/1(1) — 5 cases
Janowiak v. Tiesi, 932 N.E.2d 569 (Ill. App. Ct. 2010). “760 ILCS 65/1(1) (West 2006). The Act further specifies that “[i]n any case not provided for in this Act the rules of law and equity, including the law merchant and those rules of law and equity relating to trusts, agency, negotiable instruments and banking, shall continue to…”
West Bend Mut. Ins. Co v. Belmont State Corp., 712 F.3d 1030 (7th Cir. 2013). “” 760 ILCS 65/1(1). This is regrettably circular (a fiduciary is a person “acting in a fiduciary capacity”), but the idea seems to be that a fiduciary is a person with discretion to act on a principal’s behalf.”
Hawkins v. Voss, 2015 IL App (5th) 140001 (Ill. App. Ct. 2015). “Finally, the Corporate Fiduciary Act also defines "fiduciary" as a trustee: " 'Fiduciary' means trustee, executor, administrator, receiver, guardian, assignee for the benefit of creditors, or any holder of a similar position of trust.”
Hawkins v. Voss, 2015 IL App (5th) 140001 (Ill. App. Ct. 2015). “Finally, the Corporate Fiduciary Act also defines “fiduciary” as a trustee: “ ‘Fiduciary’ means trustee, executor, administrator, receiver, guardian, assignee for the benefit of creditors, or any holder of a similar position of trust.” 205 ILCS 620/1-5.”
Detterbeck v. Detterbeck, 2019 IL App (1st) 181113-U (Ill. App. Ct. 2019). “See 760 ILCS 65/1(1) (West 2018) (Under the Fiduciary Obligations Act, a “fiduciary” includes a trustee under any trust.”
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