Illinois Code § 26

Illinois Code § 26. Reproduced from the official Illinois Compiled Statutes, with a citation summary, verification link, and related provisions.

§ 26.

The trustee appointed pursuant to Section 25 may, and upon written request of the holders of 25% in principal amount of such notes or bonds then outstanding shall, in his own name: (a) enforce all rights of the noteholders or bondholders, including the right to require the Authority to collect fees and charges and interest and amortization payments on mortgage or other loans made by it adequate to carry out any agreement as to, or pledge of, such fees and charges and interest and amortization payments of such mortgage or other loans, and other properties and to require the Authority to carry out any other agreements with the holders of such notes or bonds and to perform its duties under this Act; (b) bring suit upon such notes or bonds; (c) require the Authority to account as if it were the trustee of an express trust for the holders of such notes or bonds; (d) enjoin any acts or things which may be unlawful or in violation of the rights of the holders of such notes or bonds; or (e) declare all such notes or bonds due and payable, and if all defaults shall be made good, then, with the consent of the holders of 25% of the principal amount of such notes or bonds then outstanding, to annul such declaration and its consequences. (Source: P.A. 83-1251.)

Source: official Illinois text · Last verified 2026-08-27

At a glance

  • Citation: Illinois Compiled Statutes § 26
  • Jurisdiction: Illinois
  • Code: Illinois Compiled Statutes
  • Text: transcribed from the official source (verify below)

Verify the text

Statute text is transcribed from the official Illinois Compiled Statutes. Confirm it against the primary source before relying on it:

Not legal advice. Verify against the official source and consult a licensed Illinois attorney.

Common questions

What is the source of Illinois Compiled Statutes § 26?

The text above is transcribed from the Illinois Compiled Statutes, the codified statutes of Illinois. The official publisher link appears under "Verify the text" on this page.

What subject does Illinois Compiled Statutes § 26 address?

It addresses the rule set out in the section text. Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.

Is Illinois Compiled Statutes § 26 still in force?

Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Illinois source before relying on this text.

Can this page be used as legal advice?

No. This is a reference transcription for research. Applying Illinois law to your facts requires a licensed Illinois attorney who can review the specifics.