(50 ILCS 320/6)
(from Ch. 85, par. 7206)
Action by commission; financial advisor; liability.
(a) The commission may adopt and alter bylaws and rules for
the conduct of its affairs, and for the manner, subject to this Act, in
which its powers and functions shall be exercised and embodied.
(b) Six members of the commission constitute a quorum of the commission.
The affirmative vote of 6 members of the commission is necessary for any
action taken by vote of the commission. No vacancy in the membership of
the commission shall impair the rights of a quorum by such vote to exercise
all the rights and perform all the duties of the commission. Members of
the commission, and their designees, are not disqualified from voting by
reason of the functions of the other office they hold and are not
disqualified from exercising the functions of any other office with respect
to the unit of local government, its officers, or the commission.
(c) The commission may retain a financial advisor. As used in this
Act, "financial advisor" means a firm of certified public accountants
with demonstrated professional competence in matters relating to this Act,
engaged by the commission pursuant to a written contract, a copy of which
shall be provided to each member of the commission and each member of the
governing body of the unit of local government.
(d) The financial advisor, the members of the commission, or any other
person authorized to act on behalf of or assist them shall not be
personally liable or subject to any action, judgment, or claim for damages
resulting from the exercise of or failure to exercise the powers, duties,
and functions granted to them in regard to their functioning under this
Act, but the commission, the financial advisor, and such other persons
shall be subject to mandamus proceedings to compel performance of their
duties under this Act.
(e) At the request of the commission the administrative head of any State
department or agency shall temporarily assign personnel skilled in
procedures relevant to assisting the commission or the financial advisor
in its duties.
(f) Each appointed member of the commission shall file with the
commission a signed written statement setting forth the general nature of
sales of goods, property, or services or of loans to the unit of local
government with respect to which that commission is established, in which
such member has a pecuniary interest or in which any member of his
immediate family, or any corporation, partnership, or enterprise of which
he is an officer, director, or partner, or of which he or a member of his
immediate family owns more than 7 1/2% interest, has a pecuniary interest,
and of which sale, loan and interest such member has knowledge. The
statement shall be supplemented from time to time to reflect changes in the
general nature of any such sales or loans.
(Source: P.A. 86-1211.)