Illinois General Assembly - Full Text of SB2525
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Full Text of SB2525  96th General Assembly

SB2525sam002 96TH GENERAL ASSEMBLY

Sen. Iris Y. Martinez

Filed: 2/26/2010

 

 


 

 


 
09600SB2525sam002 LRB096 16690 AMC 37630 a

1
AMENDMENT TO SENATE BILL 2525

2     AMENDMENT NO. ______. Amend Senate Bill 2525 by replacing
3 everything after the enacting clause with the following:
 
4     "Section 5. The Illinois Pension Code is amended by
5 changing Section 1-107 as follows:
 
6     (40 ILCS 5/1-107)  (from Ch. 108 1/2, par. 1-107)
7     Sec. 1-107. Indemnification of trustees, consultants, and
8 employees of retirement systems and pension funds. Every
9 retirement system, pension fund, or other system or fund
10 established under this Code, other than a retirement system
11 established under Article 2, 14, 15, 16, or 18 of this Code or
12 the investment board established under Article 22A of this
13 Code, must indemnify and protect the trustees against all
14 damage claims and suits, including defense thereof, when
15 damages are sought for negligent or wrongful acts alleged to
16 have been committed in the scope of their powers and duties as

 

 

09600SB2525sam002 - 2 - LRB096 16690 AMC 37630 a

1 trustees.
2     Every retirement system established under Article 2, 14,
3 15, 16, or 18 of this Code may indemnify and protect the
4 trustees against all damage claims and suits, including defense
5 thereof, when damages are sought for negligent or wrongful acts
6 alleged to have been committed in the scope of their powers and
7 duties as trustees.
8     The investment board established under Article 22A of this
9 Code may indemnify and protect its members against all damage
10 claims and suits, including defense thereof, when damages are
11 sought for negligent or wrongful acts alleged to have been
12 committed in the scope of their powers and duties as members.
13     Every retirement system, pension fund, or other system or
14 fund established under this Code may indemnify and protect the
15 trustees, staff and consultants against all damage claims and
16 suits, including defense thereof, when damages are sought for
17 negligent or wrongful acts alleged to have been committed in
18 the scope of employment or under the direction of the trustees.
19     However, the trustees, staff, and consultants shall not be
20 indemnified for wilful misconduct and gross negligence.
21     Each board is authorized to insure against loss or
22 liability of the trustees, staff, and consultants which may
23 result from these damage claims. This insurance shall be
24 carried in a company which is licensed to write such coverage
25 in this State.
26 (Source: P.A. 80-1364.)
 

 

 

09600SB2525sam002 - 3 - LRB096 16690 AMC 37630 a

1     Section 99. Effective date. This Act takes effect upon
2 becoming law.".