A bank or savings and loan association shall not receive investment funds from a pension fund established under Article 3 or 4 of this Code, unless it has complied with the requirements established under Section 6 of the Public Funds Investment Act. The limitations set forth in that Section 6 are applicable only at the time of investment and do not require the liquidation of any investment at any time.
40 ILCS 5/1-113.8
Limitations on banks and savings and loan associations
Known as the Illinois Pension Code
The act spans §§ 40-5-1-101 to 40-5-1-167 (79 sections).
P.A. 90-507, eff. 8-22-97.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.