Illinois § 7-194 To accept gifts

Illinois Statutes

§ 7-194 — To accept gifts

Illinois § 7-194

JurisdictionIllinois

TopicGOVERNMENT

Ch. 40PENSIONS

Act 40 ILCS 5/Illinois Pension Code.

Art.Article 7 - Illinois Municipal Retirement Fund

This text of Illinois § 7-194 (To accept gifts) 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. 7-194 (2026).

Text

To accept any gift, grant or bequest of any money or securities for the purposes designated by the grantor if such purpose is specified as providing cash benefits to some or all of the participating employees or annuitants of this fund, or if no such purposes are designated, for the purpose of distribution to all the participating employees at the end of the year in the same proportion as the interest at the effective rate is allocated for the year.

Free access — add to your briefcase to read the full text and ask questions with AI

To accept any gift, grant or bequest of any money or securities for the purposes designated by the grantor if such purpose is specified as providing cash benefits to some or all of the participating employees or annuitants of this fund, or if no such purposes are designated, for the purpose of distribution to all the participating employees at the end of the year in the same proportion as the interest at the effective rate is allocated for the year.