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Northeast Illinois Regional Commuter Railroad Corporation Overview
Northeast Illinois Regional Commuter Railroad Corporation (NIRCRC), IL Code of Ordinances
NORTHEAST ILLINOIS REGIONAL COMMUTER RAILROAD CORPORATION (“NIRCRC”) CODE OF ORDINANCES
TITLE I: ADMINISTRATION
TITLE III: DEFERRED COMPENSATION PLAN
TITLE V: EMPLOYMENT POLICIES
TITLE VII: FINANCES
TITLE IX: PROCUREMENT
TITLE XI: AGREEMENTS
TITLE XIII: RULES OF CONSTRUCTION
TABLE OF SPECIAL ORDINANCES
PARALLEL REFERENCES
§ 33.023 PLAN LOAN MUST BE ADEQUATELY SECURED.
   (A)   A plan loan shall not be made unless the plan loan is adequately secured.
   (B)   A participant’s account may be used as security for the plan loan to the extent of the issuer’s or the plan-trustee’s ability (consistent with the provisions of the plan) to satisfy the participant’s outstanding obligation in the event of default.
(Ord. NIRC 97-1, passed 1-15-1997)

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