(40 ILCS 5/22-231) (from Ch. 108 1/2, par. 22-231)
Sec. 22-231.
Discontinuance of fire insurance patrol - Trustees of fund.
If the Board of Underwriters of any such city, village or incorporated
town, at any time after creating a pension fund as provided in the Fire
Insurance Patrolmen's Pension Fund Act of the Illinois Municipal Code or
this Division, shall discontinue the operation or sustaining of a paid fire
insurance patrol, the persons constituting the Board of Trustees of such
pension fund shall continue as such trustees until the second annual
meeting of the Board of Underwriters following the effective date of
discontinuing the operation of the paid fire insurance patrol. At the
second annual meeting of the Board of Underwriters following the
discontinuance of a paid fire insurance patrol, trustees shall be selected
composed of the president, secretary and treasurer of the Board of
Underwriters, and 4 trustees to be appointed by the President of the Board
of Underwriters and confirmed by the directors of the Board of
Underwriters, all of whom shall be officers of insurance companies who are
or have been contributors to the Patrolmen's Pension Fund. All of such
trustees shall have their principal place of business in the city, village
or incorporated town in which the Board of Underwriters has its principal
office. The president, secretary and treasurer of the Board of
Underwriters, acting as trustees, shall continue as trustees during their
respective terms of office as officers of the Board of Underwriters. The 4
trustees appointed by the President of the Board of Underwriters shall
serve for terms of 2 years and until their successors are appointed and
confirmed. Vacancies occurring by reason of death, disability or
resignation of a trustee shall be filled in the same manner in which the 4
trustees, not officers of the Board of Underwriters, are selected.
(Source: Laws 1963, p. 161.)
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