(105 ILCS 5/8-12)
(from Ch. 122, par. 8-12)
in which securities taken-Actions.
Bonds, mortgages, notes and other securities taken for money or other
property due, or to become due, to the trustees of schools for the
township, shall be made payable to them in their corporate name; and in
such name, suits, actions and complaints, and every description of legal
proceedings may be had for the recovery of money, breach of contracts and
for every legal liability which may at any time arise or exist, or upon
which a right of action shall accrue to the use of such corporation.
(Source: Laws 1961, p. 31.)