Illinois § 11-74.5-13

Illinois Statutes

§ 11-74.5-13

JurisdictionIllinois

TopicGOVERNMENT

Ch. 65MUNICIPALITIES

Act 65 ILCS 5/Illinois Municipal Code.

Art.Art 11 prec Div 74.2 - Commercial Blight Areas

This text of Illinois § 11-74.5-13 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

65 Ill. Comp. Stat. 11-74.5-13 (2026).

Text

Notwithstanding the provisions of any other Act, a member of the corporate authorities, or an officer or employee of the municipality, may be an officer, employee or stockholder of a lending institution or lender participating in a residential housing finance plan of the corporate authorities provided such member (if a member of such corporate authorities) declares such position or interest at a regular meeting of the corporate authorities prior to passage of an ordinance establishing the plan and abstains from voting on such ordinance.

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Notwithstanding the provisions of any other Act, a member of the corporate authorities, or an officer or employee of the municipality, may be an officer, employee or stockholder of a lending institution or lender participating in a residential housing finance plan of the corporate authorities provided such member (if a member of such corporate authorities) declares such position or interest at a regular meeting of the corporate authorities prior to passage of an ordinance establishing the plan and abstains from voting on such ordinance.