Illinois § 7
Full text of Illinois Illinois Compiled Statutes § 7, with citation guidance and answers to common questions.
§ 7.
State Not to Impair Bond Obligations. While Bonds under this Act are outstanding, the State irrevocably pledges and covenants that it shall not: A. Take action to limit or restrict the rights of the Department to fulfill its responsibilities to pay Bond Obligations, Bond Administrative Expenses or otherwise comply with instruments entered by the Department pertaining to the issuance of the Bonds; B. In any way impair the rights and remedies of the holders of the Bonds until the Bonds are fully discharged; or C. Reduce: 1. The Fund Building Rates below the levels in existence effective January 1, 2012; 2. The maximum amount includable as wages pursuant to Section 235 of the Unemployment Insurance Act below the levels in existence effective January 1, 2012; and 3. The Solvency Adjustments imposed pursuant to Section 1400.1 of the Unemployment Insurance Act below the levels in existence effective January 1, 2012. (Source: P.A. 97-621, eff. 11-18-11.)
Frequently Asked Questions About Illinois § 7
What does Illinois Compiled Statutes § 7 cover?
Section 7 is part of the Illinois Compiled Statutes, the codified statutory law of Illinois. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Illinois § 7?
A common citation format is "Illinois Compiled Statutes § 7" (Illinois). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Illinois law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Illinois official source linked on this page or consult a licensed Illinois attorney.
How does Illinois § 7 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Illinois can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Illinois.