Illinois Compiled Statutes 40 ILCS 5/2-133 – To certify interest rate and adopt actuarial tables
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Terms Used In Illinois Compiled Statutes 40 ILCS 5/2-133
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
To certify in the records of the board the prescribed interest rate, and to adopt all necessary actuarial tables in accordance with recommendations of the actuary.