(30 ILCS 430/6) (from Ch. 127, par. 3756)
Sec. 6.
Compel payment; remedies of bondholders.
If the State fails
to pay the principal of or interest on any Retirement Savings Bonds or
premium, if any, as the same become due, or shall fail to make any required
monthly transfer of funds to provide for the payment of such principal,
interest or premium, a civil action to compel payment may be instituted in
the Supreme Court of Illinois as a court of original jurisdiction by the
holder or holders of the Retirement Savings Bonds with respect to which
such default of payment or failure to make a required transfer exists.
Delivery of a summons and a copy of the complaint to the Attorney General
shall constitute sufficient service to give the Supreme Court of Illinois
jurisdiction of the subject matter of such suit and jurisdiction over the
State and its officers named as defendants for the purpose of compelling
such payment or transfer. Any case, controversy or cause of action concerning
the validity of this Act relates to the revenue of the State of Illinois.
If the Supreme Court of Illinois denies the holder or holders of Bonds
leave to file an original action in the Supreme Court, the bond holder or
holders may bring the action in the Circuit Court of Sangamon County.
(Source: P.A. 86-892.)
|