Illinois Compiled Statutes 20 ILCS 880/20 – Disclosure to donors of exemption from Public Funds Investment Act. …
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Terms Used In Illinois Compiled Statutes 20 ILCS 880/20
- Bequest: Property gifted by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Disclosure to donors of exemption from Public Funds Investment Act. The Foundation must provide a written notice to any entity providing a gift, grant, or bequest to the Foundation that the Foundation is not subject to the provisions of the Public Funds Investment Act which Act places limitations on the types of securities in which a public agency may invest public funds.