Illinois Code § 11-197.7
Illinois Code § 11-197.7. Reproduced from the official Illinois Compiled Statutes, with a citation summary, verification link, and related provisions.
§ 11-197.7.
Payment of annuity other than direct. The board, at the written direction and request of any annuitant, may, solely as an accommodation to such annuitant, pay the annuity due him or her to a bank, savings and loan association, or any other financial institution insured by an agency of the federal government, for deposit to his or her account, or to a bank or trust company for deposit in a trust established by him or her for his benefit with such bank, savings and loan association, or trust company, and such annuitant may withdraw such direction at any time. An annuitant who directs the board to pay the annuity due him or her to a financial institution shall hold the board and the fund harmless from any claim or loss related to any error as to whether the financial institution is or continues to be federally insured. (Source: P.A. 100-23, eff. 7-6-17; 100-1166, eff. 1-4-19.)
Source: official Illinois text · Last verified 2026-08-27
At a glance
- Citation: Illinois Compiled Statutes § 11-197.7
- Jurisdiction: Illinois
- Code: Illinois Compiled Statutes
- Text: transcribed from the official source (verify below)
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Common questions
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What subject does Illinois Compiled Statutes § 11-197.7 address?
It addresses the rule set out in the section text. Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
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