Illinois Public Official Bonds

Published: Aug 28, 2011

HB 239: Public Officials

This will allow for the State Treasurer to establish and administer a Home Savings Pool for first time home buyers. The State Treasurer would be authorized to receive endorsements paid into the Pool by a participant and could serve as the fiscal agent of the participant to hold and invest the Pool’s funds. The State Treasurer will be required to post a one million dollar bond to secure the faithful performance of his or her duties in connection with the Pool.

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