(105 ILCS 5/1E-120)
(This Section scheduled to be repealed in accordance with 105 ILCS 5/1E-165) Sec. 1E-120.
Obligations as legal investments.
The obligations issued under
the provisions of this Article are hereby made securities in which all public
officers and bodies of this State, all political subdivisions of this State,
all persons carrying on an insurance business, all banks, bankers, trust
companies, saving banks, and savings associations (including savings and loan
associations, building and loan associations, investment companies, and
other persons carrying on a banking business), and all credit unions, pension
funds, administrators, and guardians who are or may be authorized to invest in
bonds or in other obligations of the State may properly and legally invest
funds, including capital, in their control or belonging to them. The
obligations are also hereby made securities that may be deposited with and may
be received by all public officers
and bodies of the State, all political subdivisions of the State, and
public corporations for any purpose for which the deposit of bonds or
other obligations of the State is authorized.
(Source: P.A. 92-547, eff. 6-13-02.)
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