Ill. Admin. Code tit. 2 § 1975.420

Current through Register Vol. 48, No. 49, December 6, 2024

Section 1975.420 - Organization of the Authority

Duties of the members, officers and staff of the Authority are governed by the Act and the By-Laws.

a) Members. The Authority is a body politic and corporate of the State created by the Act and governed by nine members, appointed by the Governor by and with the advice and consent of the Senate.

b) Chairman. The Chairman, who is a member and who is designated from time to time by the Governor, is the chief executive officer of the Authority.

c) Officers. The members annually elect from their membership a Vice Chairman, Treasurer, and Secretary. The members may elect one or more Assistant Treasurers and Assistant Secretaries, who need not be members.

d) Director. The Director, who is appointed by the members, is the chief administrative officer of the Authority. The members may also appoint a Deputy Director.

e) Staff. The Authority may from time to time employ persons as necessary for the effective transaction of Authority business. Under the By-Laws, the Director may be empowered to employ the staff.

f) Staff Organization. The Director may, in his or her discretion, organize the staff into departments, divisions, or other administrative units necessary for the effective transaction of Authority business, including, but not limited to, units focused on accounting, finance, operations, single family and multifamily housing lending, compliance, law, communications, planning and research.

Ill. Admin. Code tit. 2, § 1975.420

Adopted at 42 Ill. Reg. 7687, effective 4/11/2018.