Sec. 4a-6.1. There is hereby created a Self-Insurers Administration Fund.
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/il/chapter-820/act-305/4a-6-1A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 4a-6.1. There is hereby created a Self-Insurers Administration Fund. The State Treasurer shall be the ex-officio custodian of the Self-Insurers Administration Fund. Monies in the Self-Insurers Administration Fund shall be deposited in a separate account in the same manner as are State Funds, and any interest accruing thereon shall be added thereto every 6 months. It shall be subject to audit the same as State funds and accounts and shall be protected by the general bond given by the State Treasurer.
The funds in the Self-Insurers Administration Fund shall not be subject to appropriation and shall be made available only for paying the salaries and benefits of the Self-Insurers Advisory Board employees and the operating costs of the Board. Payment from the Self-Insurers Administration Fund shall be made by the Comptroller only upon the authorization of the Chairman as evidenced by properly certified vouchers of the Commission. Notwithstanding any other provision of law, in addition to any other transfers that may be provided by law, on the effective date of this amendatory Act of the 102nd General Assembly, or as soon thereafter as practical, the State Comptroller shall direct and the State Treasurer shall transfer the remaining balance from the Self-Insurers Administration Fund into the Self-Insurers Security Fund.
Upon completion of the transfers, the Self-Insurers Administration Fund is dissolved, and any future deposits due to the Self-Insurers Administration Fund and any outstanding obligations or liabilities of the Self-Insurers Administration Fund pass to the Self-Insurers Security Fund.