Sec. 1-113.12. Application.
90 words·~1 min read·
/il/chapter-40/act-5/1-113-12A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 1-113.12. Application.
(a)Except as provided in subsection
(b)of this Section, Sections 1-113.1 through 1-113.10 apply only to pension funds established under Article 3 or 4 of this Code.
(b)Upon the transfer of the securities, funds, assets, and moneys of a transferor pension fund to a fund created under Article 22B or 22C, that pension fund shall no longer exercise any investment authority with respect to those securities, funds, assets, and moneys and Sections 1-113.1 through 113.10 shall not apply to those securities, funds, assets, and moneys.