(40 ILCS 5/22-228) (from Ch. 108 1/2, par. 22-228)
Sec. 22-228.
Moneys - How paid.
All moneys ordered to be paid from the pension fund shall be paid by the
treasurer or assistant treasurer of said Board of Trustees only upon
warrants signed by the president or vice president of the said Board and
countersigned by the secretary or assistant secretary thereof. No warrant
shall be drawn except by order of the Board of Trustees and duly entered in
the records of the proceedings of the Board of Trustees.
In case the pension fund or any part thereof shall be deposited in any
savings and loan association or bank or loaned, all interest on money
which may be paid on account of any
such loan or deposit shall belong to and constitute a part of such fund.
The treasurer shall have no power to loan or deposit such fund or any part
thereof unless authorized by the Board of Trustees.
(Source: P.A. 83-541.)
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