SB0731 101ST GENERAL ASSEMBLY

LRB101 04492 RJF 49500 b

101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
SB0731

Introduced 1/31/2019, by Sen. John J. Cullerton

SYNOPSIS AS INTRODUCED:

15 ILCS 505/1

from Ch. 130, par. 1

Amends the State Treasurer Act. Makes a technical change in a Section concerning bond.

A BILL FOR

AN ACT concerning State government.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The State Treasurer Act is amended by changing Section 1 as follows:

(15 ILCS 505/1) (from Ch. 130, par. 1)

Sec. 1. Bond. That That the Treasurer of this State shall give bond, before entering upon the duties of his or her office, in the penal sum of $500,000 by inclusion in the blanket bond or bonds or self-insurance program provided for in Sections 14.1 and 14.2 of the Official Bond Act. The bond shall be conditioned (i) for the faithful discharge of the Treasurer's duties, (ii) to deliver up all moneys, papers, books, records, and other property appertaining to his or her office, whole, safe, and undefaced, to the successor in office, and (iii) that the Treasurer will give additional bonds when legally required.

(Source: P.A. 90-372, eff. 7-1-98.)