Bill Text: IL HB4404 | 2019-2020 | 101st General Assembly | Introduced

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Bill Title: 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.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee [HB4404 Detail]

Download: Illinois-2019-HB4404-Introduced.html

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101ST GENERAL ASSEMBLY State of Illinois 2019 and 2020 HB4404 Introduced , by Rep. Will Guzzardi SYNOPSIS AS INTRODUCED:
40 ILCS 5/17-140 from Ch. 108 1/2, par. 17-140
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.
LRB101 18561 RPS 68015 b
PENSION IMPACT NOTE ACT MAY APPLY
A BILL FOR
HB4404 LRB101 18561 RPS 68015 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 17-140 as follows:
(40 ILCS 5/17-140) (from Ch. 108 1/2, par. 17-140)
Sec. 17-140. Board officers. The president, recording
secretary and other officers of the Board shall be elected by
and from the members of the Board board at the first meeting of
the Board after the election of trustees.
In case any officer whose signature appears upon any check
or draft, issued pursuant to this Article, ceases (after
attaching his signature) to hold his office, the before the
delivery thereof to the payee, his signature nevertheless shall
be valid and sufficient for all purposes with the same effect
as if he had remained in office until delivery thereof.
(Source: P.A. 90-566, eff. 1-2-98.)