§ 1 This Act shall be known and may be cited as the Emergency Farm Credit …
§ 2 The General Assembly has found and determined and does hereby declare …
§ 3 As used in this Act unless the context otherwise requires: …
§ 4 There is hereby created a payment adjustment program to be …
§ 5 A payment adjustment may be granted if the following criteria are …
§ 6 Application for an operating loan subject to a payment adjustment …
§ 7 An application for a payment adjustment shall be transacted on forms …
§ 8 There is hereby created outside of the State treasury a special fund …

Terms Used In Illinois Compiled Statutes > 20 ILCS 3610

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Case law: The law as laid down in cases that have been decided in the decisions of the courts.
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • 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.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • 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.
  • United States: may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14