§ 205 ILCS 620/1-1 Short Title
§ 205 ILCS 620/1-2 Policy of Act
§ 205 ILCS 620/1-3 Scope of Act; application to national banks, federally chartered …
§ 205 ILCS 620/1-4 Effect on existing corporate fiduciaries
§ 205 ILCS 620/1-5 Definitions
§ 205 ILCS 620/1-5.01 “Bank” shall have the same meaning ascribed to the term in Section 2 …
§ 205 ILCS 620/1-5.02 “Capital” shall have the meaning ascribed to the term “capital” or …
§ 205 ILCS 620/1-5.03 “Commissioner” means the Secretary of Financial and Professional …
§ 205 ILCS 620/1-5.05 Corporate fiduciary
§ 205 ILCS 620/1-5.06 “Court” means a court of competent jurisdiction
§ 205 ILCS 620/1-5.07 “Depository institution” includes banks, savings and loan …
§ 205 ILCS 620/1-5.07a Division of Banking
§ 205 ILCS 620/1-5.07b Division
§ 205 ILCS 620/1-5.08 “Foreign corporation” means: (a) any …
§ 205 ILCS 620/1-5.09 “Person” means an individual, corporation, partnership, joint …
§ 205 ILCS 620/1-5.09a Secretary
§ 205 ILCS 620/1-5.10 “Surplus” means the aggregate of (i) amounts paid in excess of the …
§ 205 ILCS 620/1-5.11 Trust company
§ 205 ILCS 620/1-5.12 Fiduciary
§ 205 ILCS 620/1-5.13 Trust business
§ 205 ILCS 620/1-5.14 Compliance period
§ 205 ILCS 620/1-6 General corporate powers
§ 205 ILCS 620/1-6a Non-English language transactions
§ 205 ILCS 620/1-7 Office locations; corporate fiduciaries
§ 205 ILCS 620/1-8 Change of name or location
§ 205 ILCS 620/1-9 Name indicating fiduciary capacity; limitation

Terms Used In Illinois Compiled Statutes > 205 ILCS 620 > Article I - General Provisions

  • 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.
  • Executor: A male person named in a will to carry out the decedent
  • Fiduciary: A trustee, executor, or administrator.
  • 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.
  • 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
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • 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
  • 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.
  • 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
  • Statute: A law passed by a legislature.
  • Trustee: A person or institution holding and administering property in trust.
  • United States: may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14