Illinois Statutes
§ 16-197 — Undivided interest
Illinois·Topic GOVERNMENT·Ch. 40 PENSIONS·Act 40 ILCS 5/ Illinois Pension Code.·Art. Article 16 - Teachers' Retirement System Of The State Of Illinois
All assets of the system shall be invested as one fund and no person, group of persons or entity shall have any right other than to an undivided interest in the whole, and all references to the reserves shall be construed as not requiring a segregation of assets but only the maintenance of a separate account indicating the equities in the assets as a whole.
Free access — add to your briefcase to read the full text and ask questions with AI
Illinois § 16-197 (Undivided interest) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Source: Laws 1963, p. 161.)
Nearby Sections
15
§ 16-101
Creation of system§ 16-102
Application of Article§ 16-103
Terms defined§ 16-104
Retirement system or system§ 16-105
Board§ 16-106
Teacher§ 16-106.1
Full-time teacher§ 16-106.2
Part-time teacher§ 16-106.3
Substitute teacher§ 16-106.4
(Repealed)§ 16-106.41
Tier 1 member§ 16-106.6
Teacher certification§ 16-107
Member§ 16-108
Prior service§ 16-109
Membership service