§ 205 ILCS 5/1 Title
§ 205 ILCS 5/2 General definitions
§ 205 ILCS 5/2.6 Transfer of powers
§ 205 ILCS 5/3 Formation and primary powers
§ 205 ILCS 5/4 Effect on existing banks
§ 205 ILCS 5/5 General corporate powers
§ 205 ILCS 5/5b Deposits in outside depository
§ 205 ILCS 5/5c Ownership of a bankers’ bank
§ 205 ILCS 5/5d Notwithstanding any other provision of this Act, a bank may engage in …
§ 205 ILCS 5/5e Lending and account authority
§ 205 ILCS 5/5f Non-English language transactions
§ 205 ILCS 5/5g Savings promotion raffle
§ 205 ILCS 5/7 Organization capital requirements
§ 205 ILCS 5/8 Incorporators
§ 205 ILCS 5/9 Contents of application
§ 205 ILCS 5/9.5 Reservation of corporate name
§ 205 ILCS 5/10 Permit to organize
§ 205 ILCS 5/11 Stock subscription
§ 205 ILCS 5/12 Organization
§ 205 ILCS 5/13 Issuance of charter
§ 205 ILCS 5/13.5 Formation and merger of interim banks
§ 205 ILCS 5/13.6 Banks as limited liability companies
§ 205 ILCS 5/14 Stock
§ 205 ILCS 5/14.1 Quasi-Reorganization of Capital
§ 205 ILCS 5/15 Stock and stockholders
§ 205 ILCS 5/16 Directors
§ 205 ILCS 5/16.1 One or more of the directors may be removed, with or without cause, …
§ 205 ILCS 5/16.5 Employment of persons with convictions
§ 205 ILCS 5/17 Changes in charter
§ 205 ILCS 5/18 Change in control
§ 205 ILCS 5/19.1 As used in Sections 20 through 30 both inclusive of this Act and for …
§ 205 ILCS 5/19.2 For purposes of Sections 20 through 30 both inclusive of this Act, a …
§ 205 ILCS 5/20 Resulting national bank or insured savings association
§ 205 ILCS 5/21 Resulting State bank
§ 205 ILCS 5/21.1 Application for certificate of authority
§ 205 ILCS 5/21.2 Interstate mergers; minimum age requirement
§ 205 ILCS 5/21.3 Mergers; deposit concentration limits
§ 205 ILCS 5/21.4 Out-of-state banks establishing branches
§ 205 ILCS 5/21.5 Prohibition against establishment of branches on or near the premises of certain affiliates
§ 205 ILCS 5/22 Merger procedure; resulting State bank
§ 205 ILCS 5/23 Merger; approval by stockholders
§ 205 ILCS 5/24 Effective date of merger; filing
§ 205 ILCS 5/25 Conversion of national bank or insured savings association into State …
§ 205 ILCS 5/26 Converting national banks or insured savings association; issuance of …
§ 205 ILCS 5/27 Commissioner’s expenses
§ 205 ILCS 5/28 Continuation of corporate entity
§ 205 ILCS 5/29 Dissenting stockholders.) If a stockholder of a state bank which is a …
§ 205 ILCS 5/30 Conversion; merger with trust company
§ 205 ILCS 5/30.5 Mid-tier bank holding company merger with State bank
§ 205 ILCS 5/31 Emergency sale of assets, change in control, or merger
§ 205 ILCS 5/31.1 Savings association branch; bank branch
§ 205 ILCS 5/32 Basic loaning limits
§ 205 ILCS 5/32.1 Loans to Single Females
§ 205 ILCS 5/33 Marketable investment securities limit
§ 205 ILCS 5/34 Exceptions to loans and investment limits
§ 205 ILCS 5/35 Exemptions from loan and investment limits
§ 205 ILCS 5/35.1 Lease limitations
§ 205 ILCS 5/35.2 Limitations on investments in and loans to affiliates
§ 205 ILCS 5/36 Classification of loans and investments
§ 205 ILCS 5/37 Loans to officers and loans on and purchases of bank’s own stock
§ 205 ILCS 5/38 Validation of loans and investments
§ 205 ILCS 5/39 Directors’ and officers’ liability
§ 205 ILCS 5/40 Prohibited activities
§ 205 ILCS 5/43 Waivers; corporate action by unanimously signed writing
§ 205 ILCS 5/44 School or institutional deposits. Subject to such regulations as the …
§ 205 ILCS 5/44.1 Services at care facilities
§ 205 ILCS 5/45.1 Accounts for minors
§ 205 ILCS 5/46 Misleading practices and names prohibited; penalty
§ 205 ILCS 5/47 Reports to Commissioner
§ 205 ILCS 5/48 Secretary’s powers; duties
§ 205 ILCS 5/48.05 Regulatory fees
§ 205 ILCS 5/48.1 Customer financial records; confidentiality
§ 205 ILCS 5/48.2 Prohibition against certain activities
§ 205 ILCS 5/48.3 Disclosure of reports of examinations and confidential supervisory information; limitations
§ 205 ILCS 5/48.4 Enforcement of child support
§ 205 ILCS 5/48.5 Reliance on Commissioner
§ 205 ILCS 5/48.6 Retention of records
§ 205 ILCS 5/49 False statements; penalty
§ 205 ILCS 5/50 Commissioner’s proceedings exclusive
§ 205 ILCS 5/51 Capital impairment, etc.; correction
§ 205 ILCS 5/52 Capital impairment, etc.; emergency
§ 205 ILCS 5/53 Commissioner’s possession; power
§ 205 ILCS 5/54 Commissioner’s possession; limitation of actions
§ 205 ILCS 5/55 Reorganization
§ 205 ILCS 5/56 Requirements of reorganization plan
§ 205 ILCS 5/57 Reorganization; emergency
§ 205 ILCS 5/58 Appointment of receiver; court proceeding
§ 205 ILCS 5/59 Notice of receivership
§ 205 ILCS 5/60 Receiver’s powers; duties
§ 205 ILCS 5/61 Receiver’s powers; court directions
§ 205 ILCS 5/62 Change of receiver
§ 205 ILCS 5/63 Insured deposits; subrogation. The right of an agency of the United …
§ 205 ILCS 5/64 Expenses and fees
§ 205 ILCS 5/65 Dividends; dissolution
§ 205 ILCS 5/66 Validation of dividends; destruction of records
§ 205 ILCS 5/67 Judicial review
§ 205 ILCS 5/68 Voluntary dissolution
§ 205 ILCS 5/69 Voluntary dissolution; deposit with Commissioner
§ 205 ILCS 5/70 Voluntary dissolution; Commissioner’s payments
§ 205 ILCS 5/71 Voluntary dissolution; fees and expenses
§ 205 ILCS 5/72 Voluntary dissolution; dissolving bank
§ 205 ILCS 5/73 Voluntary dissolution; limitation on claims
§ 205 ILCS 5/74 Voluntary dissolution; termination of charter
§ 205 ILCS 5/74.5 Voluntary dissolution of less active bank
§ 205 ILCS 5/75 Separability
§ 205 ILCS 5/76 Effective Date
§ 205 ILCS 5/77 Repealer
§ 205 ILCS 5/78 Board of banks and trust companies; creation, members, appointment
§ 205 ILCS 5/79 Board, terms of office
§ 205 ILCS 5/80 Board; powers
§ 205 ILCS 5/81 Board; compensation. No member of the Board, including the chairman, …
§ 205 ILCS 5/82 Commissioner, board; civil liability
§ 205 ILCS 5/83 Compliance review

Terms Used In Illinois Compiled Statutes > 205 ILCS 5 - Illinois Banking Act

  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Amortization: Paying off a loan by regular installments.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Bequest: Property gifted by will.
  • Chambers: A judge's office.
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Department: means the Department of Children and Family Services. See Illinois Compiled Statutes 20 ILCS 510/510-5
  • Dependent: A person dependent for support upon another.
  • Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
  • Devise: To gift property by will.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Docket: A log containing brief entries of court proceedings.
  • Donee: The recipient of a gift.
  • Donor: The person who makes a gift.
  • Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Ex officio: Literally, by virtue of one's office.
  • Executor: A male person named in a will to carry out the decedent
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Fraud: Intentional deception resulting in injury to another.
  • Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
  • Grantor: The person who establishes a trust and places property into it.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Heretofore: means any time previous to the day on which the statute takes effect; and the word "hereafter" at any time after such day. See Illinois Compiled Statutes 5 ILCS 70/1.17
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Minority leader: See Floor Leaders
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Municipalities: has the meaning established in Section 1 of Article VII of the Constitution of the State of Illinois of 1970. See Illinois Compiled Statutes 5 ILCS 70/1.27
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • oath: shall be deemed to include an affirmation, and the word "sworn" shall be construed to include the word "affirmed. See Illinois Compiled Statutes 5 ILCS 70/1.12
  • Oath: A promise to tell the truth.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • 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.
  • Person under legal disability: means a person 18 years or older who (a) because of mental deterioration or physical incapacity is not fully able to manage his or her person or estate, or (b) is a person with mental illness or is a person with developmental disabilities and who because of his or her mental illness or developmental disability is not fully able to manage his or her person or estate, or (c) because of gambling, idleness, debauchery or excessive use of intoxicants or drugs, so spends or wastes his or her estate as to expose himself or herself or his or her family to want or suffering. See Illinois Compiled Statutes 5 ILCS 70/1.06
  • Personal property: All property that is not real property.
  • Petty offense: A federal misdemeanor punishable by six months or less in prison. Source: U.S. Courts
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Quorum: The number of legislators that must be present to do business.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
  • Revolving credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or open-end credit.) Source: OCC
  • Service of process: The service of writs or summonses to the appropriate party.
  • Statute: A law passed by a legislature.
  • Subpoena: A command to a witness to appear and give testimony.
  • Summons: Another word for subpoena used by the criminal justice system.
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • Trustee: A person or institution holding and administering property in trust.
  • Units of local government: has the meaning established in Section 1 of Article VII of the Constitution of the State of Illinois of 1970. See Illinois Compiled Statutes 5 ILCS 70/1.28
  • Venue: The geographical location in which a case is tried.