Illinois Statutes
§ 6-192 — Moneys which may be held on deposit
Illinois § 6-192
JurisdictionIllinois
TopicGOVERNMENT
Ch. 40PENSIONS
Act 40 ILCS 5/Illinois Pension Code.
Art.Article 6 - Firemen's Annuity And Benefit Fund--Cities Over 500,000
This text of Illinois § 6-192 (Moneys which may 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. 6-192 (2026).
Text
To pay annuities and benefits, the board may at all times keep uninvested a sum not in excess of the amount required for such payments which become due and payable within the following 90 days. Such sum or any part thereof, shall be kept on deposit in any bank or savings and loan association authorized to do business in this State. The amount which the board may deposit in any such bank or savings and loan association, however, shall not exceed 25% of the paid up capital and surplus of the bank or savings and loan association. 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
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Legislative History
(Source: P.A. 83-541.)
Nearby Sections
15
§ 6-101
Creation of fund§ 6-102
Terms defined§ 6-103
§ 6-103§ 6-104
Effective date§ 6-105
Retirement board or board§ 6-106
Fireman§ 6-106.1
Gender§ 6-107
Present employee§ 6-108
Future entrant§ 6-109
Active fireman§ 6-110
Act of duty§ 6-111
Salary§ 6-112
§ 6-112§ 6-113
Compulsory retirement§ 6-114
§ 6-114Cite This Page — Counsel Stack
Bluebook (online)
Illinois § 6-192, Counsel Stack Legal Research, https://law.counselstack.com/statute/il/40/6-192.