Bill Text: IL HB4924 | 2021-2022 | 102nd General Assembly | Chaptered
Bill Title: Amends the Downstate Firefighter Article of the Illinois Pension Code. Removes language requiring the treasurer of the board to execute a bond to the municipality conditioned for the faithful performance of the duties of the office and other conditions. Makes conforming changes. Effective immediately.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Passed) 2022-05-13 - Public Act . . . . . . . . . 102-0787 [HB4924 Detail]
Download: Illinois-2021-HB4924-Chaptered.html
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Public Act 102-0787 | ||||
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AN ACT concerning public employee benefits.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Illinois Pension Code is amended by | ||||
changing Section 4-130 as follows:
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(40 ILCS 5/4-130) (from Ch. 108 1/2, par. 4-130)
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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.
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The treasurer, within 10 days after his or her election or
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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
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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.
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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.
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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.
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(Source: P.A. 83-1440.)
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Section 99. Effective date. This Act takes effect upon | ||
becoming law.
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