Illinois General Assembly - Illinois Compiled Statutes

Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.

40 ILCS 5/22A-113.2

(40 ILCS 5/22A-113.2) (from Ch. 108 1/2, par. 22A-113.2)

Sec. 22A-113.2. Custodian.

The securities, funds and other assets transferred to the Illinois State
Board of Investment or otherwise acquired by the board shall be placed in
the custody of the board's custodian. The custodian shall provide adequate safe deposit facilities therefor and hold all
such securities, funds and other assets subject to the order of the board.

As soon as may be practicable, but in no event later than December 31, 2016, the board shall appoint and retain a qualified custodian. Until a custodian has been appointed by the board, the State Treasurer shall serve as official custodian of
the board.

The custodian shall furnish a corporate surety bond of such amount
as the board designates, which bond shall indemnify the board against any
loss that may result from any action or failure to act by the custodian or
any of the custodian's agents. All charges incidental to the procuring and giving of
such bond shall be paid by the board. The bond shall be in the custody of
the board.

(Source: P.A. 99-708, eff. 7-29-16.)