Illinois Compiled Statutes 20 ILCS 1205/4 – As used in this Act: “Department” means the Department of Financial and Professional Regulation
Current as of: 2024 | Check for updates
|
Other versions
“Director” means the Director of the Division of Financial Institutions and any authorized representative of the Director.
“Division” means the Division of Financial Institutions of the Department.
“Financial institutions” means ambulatory and community currency exchanges, credit unions, guaranteed credit unions, money transmitters, title insuring or guaranteeing companies, consumer installment lenders, payday lenders, sales finance agencies, and any other industry or business that offers services or products that are regulated under any Act administered by the Director.
“License” means any certificate or authorization issued to any person, party, or entity pursuant to any Act administered by the Division.
“Licensee” means any person, party, or entity who is or comes to be certified, chartered, registered, licensed, or otherwise authorized by the Division pursuant to any Act administered by the Division.
“Payday loan” has the meaning ascribed to that term in the Payday Loan Reform Act.
“Person” means any individual, partnership, joint venture, trust, estate, firm, corporation, cooperative society or association, or any other form of business association or legal entity.
“Secretary” means the Secretary of Financial and Professional Regulation and any authorized representative of the Secretary.
“Division” means the Division of Financial Institutions of the Department.
Terms Used In Illinois Compiled Statutes 20 ILCS 1205/4
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
“Financial institutions” means ambulatory and community currency exchanges, credit unions, guaranteed credit unions, money transmitters, title insuring or guaranteeing companies, consumer installment lenders, payday lenders, sales finance agencies, and any other industry or business that offers services or products that are regulated under any Act administered by the Director.
“License” means any certificate or authorization issued to any person, party, or entity pursuant to any Act administered by the Division.
“Licensee” means any person, party, or entity who is or comes to be certified, chartered, registered, licensed, or otherwise authorized by the Division pursuant to any Act administered by the Division.
“Payday loan” has the meaning ascribed to that term in the Payday Loan Reform Act.
“Person” means any individual, partnership, joint venture, trust, estate, firm, corporation, cooperative society or association, or any other form of business association or legal entity.
“Secretary” means the Secretary of Financial and Professional Regulation and any authorized representative of the Secretary.