(65 ILCS 5/11-133-4) (from Ch. 24, par. 11-133-4)
Sec. 11-133-4.
In case any officer whose signature appears on the specified
certificates or the coupons attached thereto ceases to hold his office
before the delivery of the certificates to the purchaser, his signature
nevertheless shall be valid and sufficient for all purposes, to the same
effect as if he had remained in office until the delivery of the
certificates. The specified certificates shall have all the qualities of
negotiable paper under the law merchant and the negotiable instruments law.
(Source: Laws 1961, p. 576.)
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