Illinois Statutes
§ 4-133 — Interest on deposits
Illinois·Topic GOVERNMENT·Ch. 40 PENSIONS·Act 40 ILCS 5/ Illinois Pension Code.·Art. Article 4 - Firefighters' Pension Fund - Municipalities 500,000 And Under
If the pension fund, or any part thereof, by order of the board or otherwise, is deposited in any bank or savings and loan association, or loaned, all interest or money which is paid or agreed to be paid on the loan or deposit shall become a part of the fund. No such loan or deposit shall be made without board authorization. No bank or savings and loan association shall receive investment funds as permitted by this Section, unless it has complied with the requirements established pursuant to Section 6 of "An Act relating to certain investments of public funds by public agencies", approved July 23, 1943, as now or hereafter amended.
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Legislative History
(Source: P.A. 83-1440.)
Nearby Sections
15
§ 4-101
Creation of fund§ 4-102
Terms defined§ 4-103
Municipality§ 4-105
Board§ 4-105a
Deferred Pensioner§ 4-105b
Permanent Disability§ 4-105c
Participant§ 4-105d
Beneficiary§ 4-106
Firefighter, firefighters§ 4-106.1
§ 4-106.1§ 4-106a
Gender§ 4-107
Qualifications§ 4-108
Creditable service§ 4-108.1
§ 4-108.1