Illinois Compiled Statutes 760 ILCS 70/1 – Definitions
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In this Act unless the context requires otherwise:
(a) “Assignment” includes any written stock power, bill of sale, deed, declaration of trust or other instrument of transfer.
(b) “Beneficial interest” includes the interest of a decedent‘s legatee, distributee, heir or creditor, of a beneficiary under a trust, of a ward, of a beneficial owner of a security registered in the name of a nominee, or of a minor owner of a security registered in the name of a custodian, or any similar interest.
(c) “Corporation” means a corporation (private, public or municipal) association or trust organized or created under the laws of this State and issuing a security subject to this Act, and includes the transfer agents and registrars of any of its securities.
(d) “Fiduciary” includes an executor, administrator, trustee, guardian, committee, conservator, curator, tutor, custodian or nominee.
(e) “Person” includes a firm or corporation.
(f) “Security” includes any share of stock, bond, debenture, note or other security of a corporation which is registered as to ownership on the books of the corporation.
(g) “Transfer” means a change on the books of a corporation in the registered ownership of a security.
(a) “Assignment” includes any written stock power, bill of sale, deed, declaration of trust or other instrument of transfer.
Terms Used In Illinois Compiled Statutes 760 ILCS 70/1
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- 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.
- Decedent: A deceased person.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Executor: A male person named in a will to carry out the decedent
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Legatee: A beneficiary of a decedent
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
- Trustee: A person or institution holding and administering property in trust.
(b) “Beneficial interest” includes the interest of a decedent‘s legatee, distributee, heir or creditor, of a beneficiary under a trust, of a ward, of a beneficial owner of a security registered in the name of a nominee, or of a minor owner of a security registered in the name of a custodian, or any similar interest.
(c) “Corporation” means a corporation (private, public or municipal) association or trust organized or created under the laws of this State and issuing a security subject to this Act, and includes the transfer agents and registrars of any of its securities.
(d) “Fiduciary” includes an executor, administrator, trustee, guardian, committee, conservator, curator, tutor, custodian or nominee.
(e) “Person” includes a firm or corporation.
(f) “Security” includes any share of stock, bond, debenture, note or other security of a corporation which is registered as to ownership on the books of the corporation.
(g) “Transfer” means a change on the books of a corporation in the registered ownership of a security.