(40 ILCS 5/9-194)
(from Ch. 108 1/2, par. 9-194)
To invest the reserves.
To invest the reserves of the
fund in accordance with Sections 1-109, 1-109.1, 1-109.2, 1-110, 1-111,
1-114, and 1-115 of this Act. Investments made in accordance with Section
1-113 shall be deemed to be prudent.
The retirement board may sell any security held by it at any time it
deems it desirable.
The board may enter into agreements and execute documents that it
determines to be necessary to complete any investment transaction.
All investments shall be clearly held and accounted for to indicate
ownership by the board. The board may direct the registration of securities
in its own name or in the name of a nominee created for the express purpose
of registration of securities by a savings and loan association or national
or State bank or trust company authorized to conduct a trust business in the
State of Illinois.
Investments shall be carried at cost or at a value determined in
accordance with generally accepted accounting principles.
(Source: P.A. 91-887, eff. 7-6-00.)