Terms Used In Illinois Compiled Statutes 5 ILCS 420/1-104.3

  • 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
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
     “Creditor” means, for the purposes of Sections 4A-102 and 4A-103, an individual, organization, or other business entity to whom money or its equivalent is owed, no matter whether that obligation is secured or unsecured, except that if a filer makes a loan to members of his or her family, then that filer does not, by making such a loan, become a creditor of that individual for the purposes of Sections 4A-102 and 4A-103 of this Act.