(65 ILCS 5/11-74.5-13) (from Ch. 24, par. 11-74.5-13)
Sec. 11-74.5-13.
Notwithstanding the provisions of any other Act, a member
of the corporate authorities, or an officer or employee of the municipality,
may be an officer, employee or stockholder of a lending institution or lender
participating in a residential housing finance plan of the corporate authorities
provided such member (if a member of such corporate authorities) declares
such position or interest at a regular meeting of the corporate authorities prior to
passage of an ordinance establishing the plan and abstains from voting on
such ordinance.
(Source: P.A. 81-580.)
|