(220 ILCS 5/18-106)
Sec. 18-106. Grantee instruments.
(a) If an electric utility to which grantee instruments
have been issued discontinues providing electric power and
energy services prior to the maturity date of such grantee
instruments, such electric utility shall not be entitled to
receive any payment on such grantee instruments on and after
the date of such discontinuance.
(b) Notwithstanding the provisions of subsection (a) of
this Section, any assignee holding such grantee instruments or
any holder of transitional funding instruments which are
secured by such grantee instruments shall nevertheless be
entitled to recover amounts payable by such grantee under such
grantee instruments in accordance with their terms as if such
electric utility had not discontinued the provision of
electric power and energy.
(c) Notwithstanding any other provision of law, the
issuance of any grantee instruments in accordance with the
terms and provisions of a transitional funding order shall for
all purposes be exempt from the application of Section 17-59 or Article 39 of the Criminal Code
of 2012 or the Criminal Code of 1961 and the Interest Act.
(Source: P.A. 97-1150, eff. 1-25-13.)
|