Sec. 1-113.20. Investment strategies; explicit and implicit costs.
78 words·~1 min read·
/il/chapter-40/act-5/1-113-20·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 1-113.20. Investment strategies; explicit and implicit costs. Every pension fund, retirement system, and investment board created under this Code, except those whose investments are restricted by Section 1-113.2 of this Code, shall instruct the fund's, system's, or board's investment advisors to utilize investment strategies designed to ensure that all securities transactions are executed in such a manner that the total explicit and implicit costs and total proceeds in every transaction are the most favorable under the circumstances.