Illinois Compiled Statutes 55 ILCS 5/3-11011 – Designation of active depository
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Terms Used In Illinois Compiled Statutes 55 ILCS 5/3-11011
- County board: means the board of county commissioners in counties not under township organization, and the board of supervisors in counties under township organization, and the board of commissioners of Cook County. See Illinois Compiled Statutes 5 ILCS 70/1.07
- county moneys: shall include all moneys to whomsoever belonging, received by or in possession or control of the incumbent of the office of county treasurer when acting as such or in any other official capacity incident to his incumbency of the office of county treasurer. See Illinois Compiled Statutes 55 ILCS 5/3-11001
- county treasurer: shall include the county treasurer when acting as such or in any other official capacity incident to his incumbency of the office of county treasurer. See Illinois Compiled Statutes 55 ILCS 5/3-11001
- Month: means a calendar month, and the word "year" a calendar year unless otherwise expressed; and the word "year" alone, is equivalent to the expression "year of our Lord. See Illinois Compiled Statutes 5 ILCS 70/1.10
Of the banks, savings and loan associations, savings banks, or credit unions which may have been so designated as depositories, one shall be designated from time to time by the county treasurer as the active bank, depository, savings and loan association, savings bank, or credit union for a period of not more than one month at a time. The county board shall have power, if it sees fit, to require that no bank, savings and loan association, savings bank, or credit union whose aggregate capital stock and surplus is less than a certain specified amount shall be named as the active bank, savings and loan association, savings bank, or credit union. During such period the county treasurer shall draw all of his checks to pay warrants and other demands drawn upon him upon such active bank, savings and loan association, savings bank, or credit union: Provided, however, that the county treasurer shall have power to withdraw county moneys from any depository for the purposes stated in Section 3-11010: And, provided, further, that during such period drafts and checks against deposit of funds designated by Section 3-11003 hereof as “Class A” funds and “Class B” funds may be drawn upon other than the active bank, savings and loan association, savings bank, or credit union.