(40 ILCS 5/22-222)
(from Ch. 108 1/2, par. 22-222)
To invest funds.
To invest funds coming into their hands in the name of the Board of
Trustees of the patrolmen's pension fund, in such investments as may be
made by a trustee of a trust fund under the laws of the State of Illinois
and as may be approved by the Board of Trustees. No personal liability of
the trustees or any of them shall attach by reason of any such investments
made in good faith.
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. The limitations set forth in such Section 6 shall be applicable
only at the time of investment and shall not require the liquidation of
any investment at any time.
(Source: P.A. 83-541.)