Illinois Statutes
§ 13-803 — Moneys to be held on deposit
Illinois § 13-803
JurisdictionIllinois
TopicGOVERNMENT
Ch. 40PENSIONS
Act 40 ILCS 5/Illinois Pension Code.
Art.Article 13 - Metropolitan Water Reclamation District Retirement Fund
This text of Illinois § 13-803 (Moneys to be held on deposit) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
40 Ill. Comp. Stat. 13-803 (2026).
Text
To make the payments authorized by this Article, the Board may keep and hold uninvested a sum not in excess of the amount required to make all annuity and disability benefit payments which shall become due and payable within the following 60 days. Such sum or any part thereof shall be kept on deposit in any bank or savings and loan association authorized to do business under the laws of this State. The amount deposited in any such bank or savings and loan association shall not exceed 25% of its paid-up capital and surplus. No bank or savings and loan association shall receive investment funds as permitted by this Section, unless it has complied with the requirements, other than the maximum deposit requirement, established pursuant to Section 6 of "An Act relating to certain investments of
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Legislative History
(Source: P.A. 87-794.)
Nearby Sections
15
§ 13-101
Creation of Fund§ 13-102
Amendatory Act of 1991§ 13-201
Terms defined§ 13-202
§ 13-202§ 13-203
§ 13-203§ 13-204
§ 13-204§ 13-205
§ 13-205§ 13-206
§ 13-206§ 13-207
§ 13-207§ 13-208
§ 13-208§ 13-209
§ 13-209§ 13-209.5
Licensed health care professional§ 13-210
§ 13-210§ 13-211
§ 13-211§ 13-212
§ 13-212Cite This Page — Counsel Stack
Bluebook (online)
Illinois § 13-803, Counsel Stack Legal Research, https://law.counselstack.com/statute/il/40/13-803.