§ 2.40.370. Bankruptcy.


Latest version.
  • If any member, retired member, vested member or beneficiaries shall become bankrupt or attempt to anticipate, assign or pledge any benefits under the Plan, then such benefits shall, in the discretion of the Retirement Board, cease, and in that event the Retirement Board shall have authority to cause the same, or any part thereof, to be held or applied to or for the benefit of such member, his or her spouse, his or her children or other dependents, or any of them, in such manner and in such proportions as the Retirement Board may deem proper.

(Ord. 672 Art. 10, §2, 1973)