Public Act 102-0787
 
HB4924 EnrolledLRB102 24746 RPS 33986 b


  
    AN ACT concerning public employee benefits.
  
 
    Be it enacted by the People of the State of Illinois,
 
represented in the General Assembly:
  
 
 
    Section 5. The Illinois Pension Code is amended  by 
changing Section 4-130 as follows:
 



    (40 ILCS 5/4-130)  (from Ch. 108 1/2, par. 4-130)



    Sec. 4-130. Treasurer of the Board. The treasurer of the 
municipality shall be the treasurer of the board and
the 
custodian of the pension fund,
and shall secure and safely 
keep the fund's assets, subject
to the control and
direction 
of the board. The treasurer shall keep
books and accounts 
concerning the fund in such manner as may be prescribed
by the 
board. The books and accounts shall be subject to the 
inspection of the board
or any member thereof.

    The treasurer, within 10 days after his or her election or

appointment, shall execute a bond to the municipality, with 
good and
sufficient securities, in
such penal sums as the 
board shall direct, to be approved by the board,
conditioned 
for the faithful performance of the duties of the
office, and 
for the safekeeping and proper accounting of all moneys and

property which come to the treasurer;
and that on the 
expiration of his or her term of office all moneys
and property 
of the fund will be turned
over to his or her successor.

    The bond shall be filed in the office of the clerk of the 
municipality
or in the office of the secretary of
the board of 
trustees of the fire protection district, as the case may be.

In case of a breach of the bond, or any of its conditions,
suit 
may be
brought thereon in the name of the municipality for the 
use of the board,
or of any person or persons injured by such 
breach.

(Source: P.A. 83-1440.)

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


Effective Date:  5/13/2022