101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB4404

 

Introduced 1/29/2020, by Rep. Will Guzzardi

 

SYNOPSIS AS INTRODUCED:
 
40 ILCS 5/17-140  from Ch. 108 1/2, par. 17-140

    Amends the Chicago Teacher Article of the Illinois Pension Code. Provides that in case any officer whose signature appears upon any check or draft, issued pursuant to the Article, ceases to hold office, the signature nevertheless shall be valid and sufficient for all purposes. Removes language concerning checks or drafts signed by an officer who ceases to hold office before the delivery of the check to the payee. Makes other changes.


LRB101 18561 RPS 68015 b

PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB4404LRB101 18561 RPS 68015 b

1    AN ACT concerning public employee benefits.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Pension Code is amended by changing
5Section 17-140 as follows:
 
6    (40 ILCS 5/17-140)  (from Ch. 108 1/2, par. 17-140)
7    Sec. 17-140. Board officers. The president, recording
8secretary and other officers of the Board shall be elected by
9and from the members of the Board board at the first meeting of
10the Board after the election of trustees.
11    In case any officer whose signature appears upon any check
12or draft, issued pursuant to this Article, ceases (after
13attaching his signature) to hold his office, the before the
14delivery thereof to the payee, his signature nevertheless shall
15be valid and sufficient for all purposes with the same effect
16as if he had remained in office until delivery thereof.
17(Source: P.A. 90-566, eff. 1-2-98.)