Illinois Compiled Statutes 40 ILCS 5/2-152 – No monetary gain on investments
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Terms Used In Illinois Compiled Statutes 40 ILCS 5/2-152
- Petty offense: A federal misdemeanor punishable by six months or less in prison. Source: U.S. Courts
- Trustee: A person or institution holding and administering property in trust.
No trustee or employee of the board shall have any direct interest in the income, gains or profits of any investments made in behalf of the system, nor receive any pay or emolument for services in connection with any investment. No trustee or employee of the board shall become an endorser or surety, or in any manner an obligor for money loaned or borrowed from the system. Whoever violates any of the provisions of this Section is guilty of a petty offense.