Sec. 30-15. Investments of the Fund.
153 words·~1 min read·
/il/chapter-240/act-40/30-15A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 30-15. Investments of the Fund.
(a)All assessments by the Department under Section 5-30 shall be held by the Corporation in the Fund.
(b)Subject to applicable law, the assets of the Fund may be invested and reinvested at the discretion of the Corporation, and the income from these investments shall be deposited to the credit of the Fund and shall be available for the same purposes as all other assets of the Fund.
(c)Except as provided in Section 20-20(e), the assets of the Fund shall not be available for any purpose other than the payment of valid claims under this Code and the payment of refunds of amounts that the Board determines have been inappropriately paid into the Fund, and may not be transferred to any other fund, other than the Trust Account when necessary to pay valid claims under this Code or to pay refunds authorized by the Board.