Illinois Compiled Statutes 305 ILCS 5/2-5 – “Vendor payment”
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Terms Used In Illinois Compiled Statutes 305 ILCS 5/2-5
- 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.
A payment made directly to the person, firm, corporation, association, agency, institution or other legal entity supplying goods or services to a recipient.