(70 ILCS 200/30-13)
Sec. 30-13.
Investment in bonds.
The State and all
counties, cities, villages, incorporated towns and
other units of local government and public bodies, and
public officers of any thereof, all banks, bankers, trust companies,
savings banks and institutions, building and loan associations, savings and
loan associations, investment companies and other persons carrying on an
insurance business and all executors, administrators, guardians, trustees
and other fiduciaries may legally invest any sinking funds, moneys or other
funds belonging to them or within their control in any bonds issued
pursuant to this Article,
it being the purpose of this Section to authorize the investment in such
bonds of all sinking, insurance, retirement, compensation, pension and
trust funds, whether owned or controlled by private or public persons or
officers; provided, however, that nothing contained in this Section may be
construed as relieving any person from any duty of exercising reasonable
care in selecting securities for investment.
(Source: P.A. 90-328, eff. 1-1-98.)
|