Illinois General Assembly - Illinois Compiled Statutes

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110 ILCS 805/3-19.1

(110 ILCS 805/3-19.1) (from Ch. 122, par. 103-19.1)

Sec. 3-19.1.

When any warrant issued for the wages of an educational
employee is presented to the treasurer and is not paid for want of funds,
the treasurer shall endorse it over his signature, "not paid for want of
funds", with the date of presentation, and shall make and keep a record of
that endorsement. The warrant shall thereafter bear interest at the rate of
6% per annum, until the treasurer notifies the chairman
of the board in
writing that he has funds to pay it. The treasurer shall make and keep a
record of that notice and hold the funds necessary to pay the warrant until
it is presented. The warrant shall draw no interest after notice is given
to the chairman of the board.

(Source: P.A. 82-622.)