2023 Illinois Compiled Statutes 205 ILCS 625/2 – Definitions
Current as of: 2023 | Check for updates
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As used in this Act, the following words have the meanings ascribed to them as set forth herein:
(a) “Institution” includes any bank as defined in § 2 of the Illinois Banking Act, any association as defined in Section 1-10.03 of the Illinois Savings and Loan Act, any insured savings bank as defined in § 1007.75 of the Savings Bank Act, or any credit union as defined in § 1.1 of the Illinois Credit Union Act, and similar federal institutions.
(b) “Account” includes any account, deposit, certificate of deposit, withdrawable capital account or credit union share in any institution.
(c) “Beneficiary” includes a natural person who is living, a trust, a corporation, a charitable organization, or any other entity that maintains a lawful existence under the state or federal authority pursuant to which it was organized.
(a) “Institution” includes any bank as defined in § 2 of the Illinois Banking Act, any association as defined in Section 1-10.03 of the Illinois Savings and Loan Act, any insured savings bank as defined in § 1007.75 of the Savings Bank Act, or any credit union as defined in § 1.1 of the Illinois Credit Union Act, and similar federal institutions.
(b) “Account” includes any account, deposit, certificate of deposit, withdrawable capital account or credit union share in any institution.
(c) “Beneficiary” includes a natural person who is living, a trust, a corporation, a charitable organization, or any other entity that maintains a lawful existence under the state or federal authority pursuant to which it was organized.