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| | 101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB4404 Introduced 1/29/2020, by Rep. Will Guzzardi SYNOPSIS AS INTRODUCED:
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| 40 ILCS 5/17-140 | from Ch. 108 1/2, par. 17-140 |
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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.
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| | | PENSION IMPACT NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| | HB4404 | | LRB101 18561 RPS 68015 b |
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| 1 | | AN ACT concerning public employee benefits.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Illinois Pension Code is amended by changing |
| 5 | | Section 17-140 as follows:
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| 6 | | (40 ILCS 5/17-140) (from Ch. 108 1/2, par. 17-140)
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| 7 | | Sec. 17-140. Board officers. The president, recording |
| 8 | | secretary and other officers of the Board shall
be elected by |
| 9 | | and from the members of the Board board at the first meeting of |
| 10 | | the
Board after the election of trustees.
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| 11 | | In case any officer whose signature appears upon any check |
| 12 | | or draft,
issued pursuant to this Article, ceases (after |
| 13 | | attaching his signature) to
hold his office, the before the |
| 14 | | delivery thereof to the payee, his signature
nevertheless shall |
| 15 | | be valid and sufficient for all purposes with the same
effect |
| 16 | | as if he had remained in office until delivery thereof.
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| 17 | | (Source: P.A. 90-566, eff. 1-2-98.)
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