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Sen. Iris Y. Martinez
Filed: 2/26/2010
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09600SB2525sam002 |
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LRB096 16690 AMC 37630 a |
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| AMENDMENT TO SENATE BILL 2525
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| AMENDMENT NO. ______. Amend Senate Bill 2525 by replacing |
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| everything after the enacting clause with the following:
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| "Section 5. The Illinois Pension Code is amended by |
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| changing Section 1-107 as follows:
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| (40 ILCS 5/1-107) (from Ch. 108 1/2, par. 1-107)
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| Sec. 1-107. Indemnification of trustees, consultants, and |
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| employees of
retirement systems and pension funds. Every |
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| retirement system, pension
fund, or other system or fund |
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| established under this Code, other than a retirement system |
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| established under Article 2, 14, 15, 16, or 18 of this Code or |
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| the investment board established under Article 22A of this |
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| Code, must indemnify and
protect the trustees against all |
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| damage claims
and suits, including defense thereof, when |
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| damages are sought for negligent
or wrongful acts alleged to |
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| have been committed in the scope of their powers and duties as |
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09600SB2525sam002 |
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LRB096 16690 AMC 37630 a |
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| trustees. |
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| Every retirement system established under Article 2, 14, |
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| 15, 16, or 18 of this Code may indemnify and
protect the |
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| trustees against all damage claims
and suits, including defense |
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| thereof, when damages are sought for negligent
or wrongful acts |
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| alleged to have been committed in the scope of their powers and |
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| duties as trustees. |
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| The investment board established under Article 22A of this |
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| Code may indemnify and
protect its members against all damage |
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| claims
and suits, including defense thereof, when damages are |
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| sought for negligent
or wrongful acts alleged to have been |
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| committed in the scope of their powers and duties as members. |
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| Every retirement system, pension
fund, or other system or |
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| fund established under this Code may indemnify and
protect the |
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| trustees, staff and consultants against all damage claims
and |
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| suits, including defense thereof, when damages are sought for |
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| negligent
or wrongful acts alleged to have been committed in |
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| the scope of employment
or under the direction of the trustees. |
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| However, the trustees, staff, and
consultants shall not be |
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| indemnified for wilful misconduct and gross negligence.
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| Each board is authorized to insure against loss or |
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| liability of the trustees,
staff, and consultants which may |
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| result from these damage claims. This insurance
shall be |
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| carried in a company which is licensed to write such coverage |
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| in this State.
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| (Source: P.A. 80-1364.)
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