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| | 102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB1478 Introduced 2/25/2021, by Sen. Dan McConchie SYNOPSIS AS INTRODUCED:
| | 15 ILCS 505/1 | from Ch. 130, par. 1 |
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Amends the State Treasurer Act. Makes a technical change in a
Section concerning bond.
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| | A BILL FOR |
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| | SB1478 | | LRB102 11256 RJF 16588 b |
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| 1 | | AN ACT concerning State government.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The State Treasurer Act is amended by changing |
| 5 | | Section 1 as follows:
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| 6 | | (15 ILCS 505/1) (from Ch. 130, par. 1)
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| 7 | | Sec. 1. Bond. That
That the Treasurer of this State shall |
| 8 | | give bond,
before
entering upon the duties of his or her |
| 9 | | office, in the penal
sum of $500,000 by inclusion in the |
| 10 | | blanket bond or bonds or
self-insurance program provided for |
| 11 | | in Sections 14.1 and 14.2 of the Official
Bond Act. The bond |
| 12 | | shall be conditioned (i) for the faithful
discharge
of the |
| 13 | | Treasurer's duties, (ii) to deliver up all
moneys, papers, |
| 14 | | books, records, and other property
appertaining to his or her |
| 15 | | office, whole, safe, and undefaced, to
the successor in
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| 16 | | office, and (iii) that the Treasurer will give additional |
| 17 | | bonds when legally
required. |
| 18 | | (Source: P.A. 90-372, eff. 7-1-98.)
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