20 ILCS 3115/ Building Authority Bond Investment Act.

Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.

20 ILCS 3115/1

(20 ILCS 3115/1) (from Ch. 127, par. 213.15)

Sec. 1.

Counties, cities, villages, incorporated towns, and other municipal
corporations, political subdivisions and public bodies, and public officers
of any thereof, all banks, bankers, trust companies, savings banks and
institutions, building and loan associations, savings and loan
associations, investment companies, insurance companies and associations,
and all executors, administrators, guardians, trustees and other
fiduciaries may legally invest any sinking funds, moneys, or other funds
belonging to them or within their control in any bonds issued pursuant to
"An Act to create the Illinois Building Authority and to define its powers
and duties," approved August 15, 1961.

(Source: Laws 1963, p. 2067.)

20 ILCS 3115/2

(20 ILCS 3115/2) (from Ch. 127, par. 213.16)

Sec. 2.

Nothing in this Act shall be construed as relieving any
officer, person, firm or corporation from any duty of using reasonable
care in selecting investments.

(Source: Laws 1963, p. 2067.)

20 ILCS 3115/3

(20 ILCS 3115/3) (from Ch. 127, par. 213.17)

Sec. 3.

Short title.

This Act may be cited as the

Building Authority Bond Investment Act.

(Source: P.A. 86-1324.)