(110 ILCS 95/2) (from Ch. 144, par. 1702)
Sec. 2.
The governing board of any public institution of higher education
has the power to make payments to custodial accounts for investment in
regulated
investment company stock to provide retirement benefits as described in
Section 403(b)(7) of the Internal Revenue Code for eligible employees of
such institutions. Such payments shall be made with funds made available
by deductions from or reductions in salary or wages of eligible employees
who authorize in writing deductions or reductions for such purpose. Such
stock shall be purchased only from persons authorized to sell such stock in
this State.
(Source: P.A. 83-261.)
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